Salary & Cost of Living in Franklin Township, NJ
Franklin Township, NJ: $65,180 median salary, cost of living index 130.6, $15.13/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$65,180
$31/hr
Cost of Living
130.6
US avg = 100
Minimum Wage
$15.13
per hour
Unemployment
3.9%
rate
Franklin Township, NJ Overview
Population
67,698
Median Salary
$65,180
Average Salary
$73,002
Avg Commute
17 min
Median Home Price
$454,000
Median Rent
$1,850/mo
Job Growth
+0.9%
Sales Tax
6.625%
Franklin Township is located in New Jersey with a population of 67,698. The median household salary is $65,180 per year ($31/hour), which is $5,796 above the national median of $59,384. The average commute time is 17 minutes, and the city has a job growth rate of +0.9%.
Franklin Township Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Franklin Township, NJ, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$48,393
$4,032.79/month · $1,861.29/biweekly · Effective Rate: 25.8%
Gross Pay
$65,180
Federal Tax
-$5,954
State Tax
-$5,847
Local Tax
$0
FICA
-$4,986
Net Pay
$48,393
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $5,431.67 | $65,180.00 |
| Federal Income Tax | -$496.13 | -$5,953.60 |
| New Jersey State Tax (8.97%) | -$487.22 | -$5,846.65 |
| Social Security (6.2%) | -$336.76 | -$4,041.16 |
| Medicare (1.45%) | -$78.76 | -$945.11 |
| Net Take-Home Pay | $4,032.79 | $48,393.48 |
Salary Comparison: Franklin Township vs Other Cities
See how Franklin Township's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Franklin Township, NJ | $65,180 | 130.6 | $49,908 |
| National Average | $59,384 | 100 | $59,384 |
| Danvers, MA | $65,175 | 125.4 | $51,974 |
| Riverhead, NY | $65,192 | 122.4 | $53,261 |
| Windsor, CO | $65,194 | 105.3 | $61,913 |
| Fairbanks, AK | $65,200 | 120 | $54,333 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Franklin Township
Franklin Township's cost of living index is 130.6 (national average = 100). Living in Franklin Township is 30.599999999999994% more expensive than the national average.
Median Home Price
$454,000
Median Monthly Rent
$1,850
Annual Rent Cost
$22,200
Your Salary's Purchasing Power
Your $48,393 annual take-home pay in Franklin Township has the purchasing power of approximately $37,055 in an average-cost US area. You would need to earn $85,125 in Franklin Township to match a $65,180 salary in an average-cost city.
Top Industries in Franklin Township
Franklin Township's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $65,180.
Salary Tips for Franklin Township Workers
- Negotiate for cost of living. Franklin Township has a cost of living 30.599999999999994% above the national average. When negotiating salary, factor in the higher housing and living costs to ensure your real purchasing power stays competitive.
- Maximize pre-tax deductions. With a 8.97% state income tax rate, maximizing 401(k) contributions (up to $23,500 in 2026) and HSA contributions can significantly reduce both your federal and state tax burden.
- Research top industries. Franklin Township's top industries include Pharmaceuticals, Finance, Logistics. Targeting roles in these sectors can help you earn above the $65,180 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
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Frequently Asked Questions
What is the median salary in Franklin Township, NJ?
The median salary in Franklin Township, NJ is $65,180 per year, or $31 per hour. The average salary is $73,002. This is $5,796 above the national median of $59,384.
What is the cost of living in Franklin Township, NJ?
Franklin Township's cost of living index is 130.6 (national average = 100), meaning it is 30.599999999999994% more expensive compared to the national average. The median home price is $454,000 and the median monthly rent is $1,850.
What are the best industries in Franklin Township?
The top industries in Franklin Township, NJ include Pharmaceuticals, Finance, Logistics. The city has a job growth rate of 0.9% and an unemployment rate of 3.9%. Workers in these industries often earn above the city's median salary of $65,180.
How does Franklin Township's salary compare to other cities?
Franklin Township's median salary of $65,180 is 9.8% above the national median of $59,384. However, when adjusted for cost of living (index: 130.6), the real purchasing power is approximately $49,908.
What is the minimum wage in Franklin Township, NJ?
The minimum wage in Franklin Township, NJ is $15.13 per hour. This equals approximately $31,470 per year for a full-time worker (40 hours/week). This is $7.88 above the federal minimum wage of $7.25/hour.