Franklin Lakes receives the higher standardized Area Score. That reflects AreaProfile's weighting, not a judgment about which place is better to live in.
Signals
Franklin Lakes
Paterson
Opportunity
83 · Top 4%
vs39 · Bottom 16%
Growth
40 · Bottom 32%
vs43 · Bottom 36%
Climate
65 · Bottom 35%
vs65 · Bottom 35%
Physical resilience
47 · Bottom 37%
vs36 · Bottom 28%
Housing affordability
75 · Bottom 42%
vs36 · Bottom 3%
Schools
84 · Top 9%
vs24 · Bottom 16%
Access
91 · Bottom 46%
vs95 · Top 37%
Economic stability
70 · Top 28%
vs48 · Bottom 28%
Measured values
| Metric | Franklin Lakes | Paterson | Source period |
|---|---|---|---|
| Population | 11,084 | 158,735 | 2024 ACS 5-Year |
| Median household income | $235,795 | $55,997 | 2024 ACS 5-Year |
| Per capita income | $105,713 | $24,403 | 2024 ACS 5-Year |
| Population density | 1,177/sq mi | 18,868/sq mi | 2024 ACS 5-Year |
| Median home value | $1,264,000 | $360,100 | 2024 ACS 5-Year |
| Median gross rent | $3,230 | $1,548 | 2024 ACS 5-Year |
| Homeownership rate | 88.9% | 26.9% | 2024 ACS 5-Year |
| Unemployment rate | 3.8% | 6.9% | June 2026 |
| Employment change (year over year) | 1.5% | 1.6% | June 2026 |
| Bachelor's degree or higher | 77.4% | 11.8% | 2024 ACS 5-Year |
| Poverty rate | 3.4% | 21.2% | 2024 ACS 5-Year |
| Housing units permitted (12 months) | 20 | 260 | 12 months ending July 2026 |
| Permits per 1,000 residents | 1.8 | 1.6 | 12 months ending July 2026 |
| Permit change (year over year) | -42.9% | -13.0% | 12 months ending July 2026 |
| Average July high | 85°F | 85°F | 1991-2020 Normals |
| Average January low | 23°F | 23°F | 1991-2020 Normals |
| Annual precipitation | 44.9" | 44.9" | 1991-2020 Normals |
| Distance to major airport | 22 mi | 15 mi | NASR current cycle |
| Average commute | 39.8 min | 24.5 min | 2024 ACS 5-Year |
| Median age | 46.3 | 33.3 | 2024 ACS 5-Year |
| Public schools | 10 | 49 | 2024-25 school year |
| Students per teacher | 10.15 | 13.17 | 2024-25 school year |
| Math proficiency | 42.3% | 7.3% | 2019-20 school year |
| Reading proficiency | 56.8% | 26.6% | 2019-20 school year |
| Free or reduced-price lunch eligibility | 1.4% | 72.8% | 2024-25 school year |
A bolded value is the more favorable of the two where the metric has a clear direction. Metrics like population and density have no inherent better or worse and are shown unweighted.
Physical risk tradeoff
Franklin Lakes
Elevated or high exposure: coastal flooding, earthquake.
Paterson
Elevated or high exposure: inland flooding, earthquake.
Your best match
Weight what matters to you. Your preferences stay in this browser and never change either Area Score.
Franklin Lakes
69
Your Score
68
Area Score
Paterson
48
Your Score
43
Area Score
Select your priorities to see which of the two fits them better.
Full profiles: Franklin Lakes, NJ · Paterson, NJ · How this is calculated: methodology