Franklin Lakes has the 2451st largest population in the United States. The population grew by 2.9% from 2010 to 2015, which was faster than the national average. Franklin Lakes is part of the New York City metro area. Unemployment in the New York City area is 4%, which is lower than the national average, and is getting better. New York City has the largest local economy in the US, and a high cost of living. The average pay for jobs in Franklin Lakes is above average at $61,300, and the median cost of a home in Franklin Lakes is $917,800, which is above the national average. 66% of workers in Franklin Lakes hold a bachelors degree or higher (above average), and 96% of workers have a high school degree (above average). Driving to work is especially common in Franklin Lakes. 66% of Franklin Lakes workers drive to work alone, 15% take public transit, 7% carpool, and 10% walk. People in Franklin Lakes spend an average of 34 minutes commuting to work, which is longer than the national average of 26 minutes.