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Demographic Analysis of Zip Code 07417: White Majority with Increasing Diversity
CATEGORY
Demographics
DATA
Population
Median Income
Racial Distributions
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Demographics
Population
Median Income
Racial Distributions
Zip code 07417 in Franklin Lakes, New Jersey, is classified as a "White Majority" community with low to moderate diversity as of 2022. The area has a median income of $176,802, which is significantly above national averages, indicating an affluent suburban environment.
Over the past decade, Franklin Lakes has maintained its "White Majority" status, but has shown a gradual trend towards increased diversity. The percentage of white residents has decreased from 83% in 2013 to 78% in 2022. The Asian population has grown from 7% to 10%, and the Hispanic population has increased from 6% to 9% during this period. The Black population has risen from negligible levels to 2% of the population.
The median income in Franklin Lakes has remained high throughout the observed period, increasing from $167,858 in 2013 to $176,802 in 2022, representing a 5.3% increase over nine years. The population has grown modestly from 10,654 in 2013 to 10,996 in 2022, an increase of about 3.2%.
Franklin Lakes's demographic shifts are relatively modest compared to national trends. Many suburban areas across the United States have experienced more rapid diversification over the past decade. The stability of the high median income, despite increasing diversity, is noteworthy.
The gradual nature of these changes, coupled with economic stability, suggests a controlled evolution rather than a dramatic transformation of the area's character. As this trend continues, it will be important to observe whether the community eventually shifts from a "White Majority" to a "Moderate Diversity" classification, and how this might impact the local economy and community dynamics in the future.
