$2,900 Per Month
- 2 Beds
- 2.5 Baths
- 1,575 Sq Ft
- Townhouse for Rent
11 Woodhill St, Somerset, NJ 08873
11 Woodhill St, Somerset, NJ 08873
Frequently Asked Questions
How much does it cost to rent a home in Franklin, NJ?
The median rent for a home in Franklin, NJ is $3,050 per month, though prices vary by neighborhood, size, and property type. As of September 2026, condos tend to be the most affordable option while townhouses and single-family homes are currently more expensive.
How much do you need to make to afford rent in Franklin, NJ?
To comfortably afford the median rent in Franklin, NJ, a household needs to earn roughly $122,000 per year. This is based on the common guideline that households should spend no more than 30% of gross income on housing. Most landlords require monthly household income of at least 3x the monthly rent, and with a median rent of $3,050 per month in Franklin, NJ, renters typically need to show $9,150 per month in gross income to qualify. Actual affordability will vary depending on household debts, other living expenses, and overall budget.
Is it more affordable to rent or buy in Franklin, NJ?
In Franklin, NJ, the price-to-rent ratio is 13.8, which generally favors renting. This ratio divides the median home price by the annual median rent: below 15 typically favors buying, 15 to 20 is balanced, and above 20 typically favors renting. Your finances, how long you plan to stay, and costs like mortgage rates, taxes, and maintenance all factor into the decision.
