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City · 6,646 residents · Somerset County, New Jersey

Franklin Center , New Jersey

In Franklin Center, a typical home is worth $612,000 and typical rent is $2,748 a month. Compared with all of Somerset County, typical rent is 35% higher and typical household income is 12% higher.

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  • Typical home value

    $612,000

    11% above the county

    35% above New Jersey

    • Franklin Center
    • Somerset
    • New Jersey

  • Typical rent

    $2,748a month

    35% above the county

    60% above New Jersey

    • Franklin Center
    • Somerset
    • New Jersey

  • Typical household income

    $157,212a year

    12% above the county

    52% above New Jersey

    • Franklin Center
    • Somerset
    • New Jersey

  • Households that own their home

    75%

    About the same as the county

    11 points above New Jersey

    • Franklin Center
    • Somerset
    • New Jersey

Source: U.S. Census Bureau, Average 2020–2024

Franklin Center is in Somerset County. The FHA loan limit ($1,249,125 for a one-unit home), the fair market rents and the help on this page are those of all of Somerset County. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Franklin Center apart

What this place has that others do not, from public data, most unusual first.

  1. Nearby, in Middlesex, the typical rent is $1,416: 48% less than in Franklin Center ($2,748).

  2. Nearby, in Manville, the typical home value is $354,300: 42% less than in Franklin Center ($612,000).

  3. The typical rent in Franklin Center is $2,748 a month, 35% more than in Somerset County as a whole ($2,033).

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Franklin Center

What homes there are in Franklin Center, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

The detached house is the most common home in Franklin Center: 55% of homes, near the figure in Somerset County (58%).

Year built

Here half of the homes date from 2006 or later; in Somerset County, from 1982 or later.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$3,367 a month

Somerset County: $3,156 a month

Owners with a mortgage

51%

Somerset County: 64%

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

From 2015–2019 to 2020–2024, the typical home value in Franklin Center rose 40%; in Somerset County, it rose 28%.

The typical rent in Franklin Center rose 37% over the same time; in Somerset County, it rose 28%.

Income in Franklin Center grew faster than housing: it rose 51%, while home values changed +40% and rent +37%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureFranklin CenterSomerset CountyNew JerseyUnited States
Rental vacancy Unreliable estimate2.0%3.5%5.5%
Homeowner vacancy Unreliable estimateUnreliable estimate0.7%0.9%
More than one person per room Unreliable estimate3.0%4.0%3.4%
People per household 2.442.642.622.53
Drive alone 54%64%62%69%
Carpool Unreliable estimate7%8%9%
Public transit Unreliable estimate3%8%3%
Walk or bike Unreliable estimate1%3%3%
Work from home 32%23%17%15%
Other means Unreliable estimate2%2%2%
Typical commute Unreliable estimate20 to 29 minutes20 to 29 minutes20 to 29 minutes

Fewer people live in each home here: 2.44 on average, against 2.64 in Somerset County.

In Franklin Center, 32% of workers work from home, more than in Somerset County (23%).

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Franklin Center?

A typical home costs more than the typical income allows

We start with a typical home in Franklin Center, worth $612,000, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 41% of the typical household income in Franklin Center, which is $157,212 a year. For that payment to be 28% of income, a household would need to earn about $232,620 a year.

The calculator's FHA and conventional loan limits are those of all of Somerset County.

Your numbers

Local data
$

Starts at the typical home value in Franklin Center. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $21,420 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$5,428

at 7.18% · 30 years

Loan amount
$600,915
Total interest
$864,576
Paid off in
November 2056

Includes $10,335 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $3,668 a month

  • Tight

    $3,668 to $4,716 a month

  • Hard

    more than $4,716 a month

    Your payment · 41%

Compared with the typical household income in Franklin Center ($157,212 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$5,428
Principal & interest$4,071
Property tax$831
Home insurance$255
FHA mortgage insurance (MIP)$271

You need at least $21,420 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Franklin Center and Somerset County

Franklin Center is in Somerset County, New Jersey. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Franklin Center's own numbers

Typical home value
$612,000
Typical monthly rent
$2,748
Typical yearly household income
$157,212
Households that own their home
75%
Effective property tax rate
1.63%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Somerset County

FHA limit, one-unit home
$1,249,125
Conventional limit, one unit
$1,209,750
HUD fair market rent, 2 bedrooms
$2,623
Price change over 5 years (FHFA)
+56%
Homes in a high flood-risk zone
1.3%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Somerset County.

Everything about Somerset County

Buying

Buying a home in Franklin Center

A typical home in Franklin Center is worth $612,000: 11% above the county and 35% above New Jersey. With the typical household income in Franklin Center ($157,212 a year), a typical home costs 3.9 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Franklin Center 3.9 years
  • Somerset 3.9 years
  • New Jersey 4.4 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Somerset County

According to FHFA’s house price index, home prices in Somerset County rose 73% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Somerset County.

Period County New Jersey U.S.
Last year (2025) +6.3% +6.2% +2.9%
5 years (2020–2025) +56% +63% +47%
10 years (2015–2025) +73% +88% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Franklin Center next to Somerset County, New Jersey and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Franklin Center $612,000
  • Somerset $552,100
  • New Jersey $454,400
  • United States $332,700
Typical monthly rent
  • Franklin Center $2,748
  • Somerset $2,033
  • New Jersey $1,720
  • United States $1,413
Typical yearly household income
  • Franklin Center $157,212
  • Somerset $140,374
  • New Jersey $103,556
  • United States $80,734
See the full table
Franklin Center next to Somerset County and New Jersey
Measure Franklin Center Somerset County New Jersey U.S.
Typical home value $612,000 $552,100 $454,400 $332,700
Typical monthly rent $2,748 $2,033 $1,720 $1,413
Typical yearly household income $157,212 $140,374 $103,556 $80,734
Households that own their home 75% 74% 64% 65%
Typical yearly property tax $10,001 $10,001 $9,590 $3,119
Effective property tax rate 1.63% 1.81% 2.11% 0.94%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Somerset County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Franklin Center

For a typical $612,000 home in Franklin Center, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Franklin Center's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $5,428a month

    Least cash to close
    Down payment
    $21,420
    Cash to close
    $39,780
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $271

  • Conventional, 5% down $5,316a month

    Down payment
    $30,600
    Cash to close
    $48,960
    Rate
    7.18%
    Mortgage insurance
    PMI · $291

  • Conventional, 20% down, no PMI $4,403a month

    Down payment
    $122,400
    Cash to close
    $140,760
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $4,969a month

    Down payment
    $91,800
    Cash to close
    $110,160
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Franklin Center and for Somerset County.

Property tax

Effective rate in Franklin Center

1.63%of the home’s value each year

$10,001 a year for the typical owner in Franklin Center.

  • Franklin Center 1.63%
  • Somerset 1.81%
  • New Jersey 2.11%

What New Jersey publishes ANCHOR, Senior Freeze and Stay NJ: one combined application (New Jersey Division of Taxation)

Exemptions and deadlines in New Jersey

Flood risk in Somerset County

FEMA does not publish these numbers by city: they are for all of Somerset County.

Homes in the high-risk zone
1.3%
1,323
Of those, with NFIP insurance
53%
County New Jersey U.S.
Homes in the high-risk zone 1.3% 6.7% 3.5%
Of those, with NFIP insurance 53% 63% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Franklin Center

Typical rent in Franklin Center is $2,748 a month: 35% above the county.

HUD publishes a fair market rent for all of Somerset County, by unit size. To pay the 2-bedroom one ($2,623 a month) without spending more than 30% of your income, you would need to earn $50.44 an hour working full time.

HUD fair market rent for all of Somerset County

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,953 $37.56 $78,120
1 bedroom $2,103 $40.44 $84,120
2 bedrooms $2,623 $50.44 $104,920
3 bedrooms $3,125 $60.10 $125,000
4 bedrooms $3,508 $67.46 $140,320

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Franklin Center

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Franklin Center is in ZIP code 08873.

For 2 bedrooms it is $2,840: $217 more than the fair market rent for Somerset County ($2,623).

  • 08873 $2,840$3,380

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Franklin Center when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Free help

Help to buy or rent in Franklin Center

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Somerset County; 1 says it serves in Spanish.

A man leans over the armchair where a girl is reading a book.

HUD counseling is free or low-cost

Assistance programs in Franklin Center

No down payment, repair or rent-help program on our list is for Franklin Center or Somerset County. The ones below are statewide in New Jersey: they work in Franklin Center the same as in the rest of the state.

Which programs do I qualify for? All programs in New Jersey

Housing counselors near Franklin Center

The HUD-approved agencies closest to the center of Franklin Center, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Central Jersey Housing Resource Center, Inc.

    92 E Main St, Somerville · 4 miles away · Spanish

    • Mortgage delinquency and default
    • Budget and credit workshops
    • and 7 more
    (908) 446-0036

  • Puerto Rican Action Board, Inc.

    754 Route 18, East Brunswick · 11 miles away · Spanish

    • Mortgage delinquency and default
    • Mortgage delinquency workshops
    • and 7 more
    (732) 832-7535

  • The Housing Authority of the City of Perth Amboy

    881 Amboy Avenue, Perth Amboy · 14 miles away · Spanish

    Also serves in other languages.

    • Mortgage delinquency and default
    • Budget and financial counseling
    • and 6 more
    732-826-3110-631

Every agency in Somerset County All counseling agencies in New Jersey

Help in Spanish near Franklin Center

3 of the 3 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Franklin Center

In HUD’s record, no housing authority with an office in Somerset County is named for Franklin Center or Somerset County.

3 other authorities have an office in Somerset County: see the list Source: HUD

Cities

Other cities in Somerset County

These cities are also in Somerset County. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Somerset County Housing in New Jersey
See 10 more cities in Somerset County, with prices and rents

Every city has its own page with prices, rents and help.

Nearby cities

The cities closest to Franklin Center, with the typical home value.

Neighboring counties

If Somerset County is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Franklin Center.

All guides
A family walks a boardwalk trail in the forest; one of them uses a wheelchair.

Questions

Housing questions about Franklin Center

Short answers with the numbers for Franklin Center and all of Somerset County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Franklin Center?

The typical home value in Franklin Center is $612,000, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Somerset County it is $552,100.

How much does it cost to rent in Franklin Center?

Typical rent in Franklin Center is $2,748 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Somerset County is $2,623.

What is the FHA loan limit in Franklin Center?

Franklin Center uses the FHA limit for all of Somerset County (2026): $1,249,125 for a one-unit home and $2,402,625 for a four-unit home.

How much property tax do owners pay in Franklin Center?

The typical homeowner in Franklin Center pays $10,001 a year, according to the U.S. Census Bureau. That is 1.63% of the home’s value; in Somerset County, the rate is 1.81%.

Where can I find free help to buy or rent in Franklin Center?

There is 1 HUD-approved counseling agency with an office in Somerset County. 1 says it serves in Spanish. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).