Edgewater, NJ vs Franklin, NJ

The cost of living difference between Edgewater, NJ and Franklin, NJ is dramatic. Franklin is 77.5% cheaper than Edgewater, a gap that translates to thousands of dollars per year in household expenses. Edgewater has a cost index of 179 while Franklin sits at 101, making this one of the more striking comparisons on our site. Relocating between these cities would require a serious reassessment of budget and lifestyle expectations.

On the housing front, median rent in Edgewater is $2,645/month compared to $1,340/month in Franklin — a 97% difference. Home values follow the same pattern: Franklin is more affordable at $253,100 median vs $723,400.

Median household income in Edgewater is $137,847 compared to $90,152 in Franklin (+52.9%). The higher salaries in Edgewater partially offset the cost difference, but don't fully close the gap. Looking at affordability, residents of Edgewater spend roughly 23% of their income on rent, more than the 17.8% in Franklin.