How many apartments are available in 07417 on Rentable.co?

Rentable.co has 3 apartments available for rent in 07417.

What is the average rent for an apartment in 07417?

The average rent for an apartment in 07417 is around $3,250 per month.

What is the average rent for a two-bedroom apartment in 07417?

The average rent for a two-bedroom apartment in 07417 is around $3,305 per month.

What is the average rent for a one-bedroom apartment in 07417?

The average rent for a one-bedroom apartment in 07417 is around $3,125 per month.

Apartments in 07417

Franklin Lakes:
April Rent Report

Welcome to the April 2024 Franklin Lakes Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the April 2024 key findings and figures for the Franklin Lakes rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Franklin Lakes and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Franklin Lakes average rent prices in the chart below.

Monthly Rent Report

$4,150

$3,110

$2,080

$1,040

May. 2023

Jun. 2023

Jul. 2023

Aug. 2023

Sep. 2023

Oct. 2023

Nov. 2023

Dec. 2023

Jan. 2024

Feb. 2024

Mar. 2024

Apr. 2024

1 BR 2 BR

Franklin Lakes Rent Prices Increase From March to April

Franklin Lakes rent prices increased over the last month. From March to April, the city experienced a 4.53% increase for the price of a one-bedroom apartment. The rent price for a Franklin Lakes one-bedroom apartments currently stands at $3,181.0.

When we take a look at the two-bedroom comparison from March to April, Franklin Lakes experienced a -0.57% decrease for the price of a two-bedroom apartment. The rent price for a Franklin Lakes two-bedroom apartments currently stands at $3,342.0.

April Prices: Franklin Lakes vs. Surrounding Areas

Rent Prices in Franklin Lakes and Surrounding Areas

Rent prices have increased in Franklin Lakes over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 0 of the Franklin Lakes suburbs increased last month. On the other hand, 0 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

Rents did not increase in any of the Franklin Lakes suburbs
Rents did not decrease in any of the Franklin Lakes suburbs.

April 2024 Pricing Trends: Franklin Lakes vs. National Comparisons

New York, NY

San Francisco, CA

Washington, DC

Los Angeles, CA

Chicago, IL

Minneapolis, MN

Columbus, OH

Pittsburgh, PA

$3,994

$3,038

$2,355

$2,347

$1,893

$1,300

$1,264

$1,145

$1,300

$2,600

$3,900

$5,200

Median Rent

Franklin Lakes Rent Prices More Affordable Than Major Cities

Rent growth in Franklin Lakes over the past year has been on the rise. When compared to major cities nearby, along with some of the most expensive cities in the country, Franklin Lakes average rent prices appear to be relatively affordable for local residents.

The price for a Franklin Lakes one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Franklin Lakes and surrounding area rent prices, take a look at the complete data set below.

Data set for Franklin Lakes and suburbs

	1 BR April	1 BR M/M % Change	2 BR April	2 BR M/M % Change

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.