Franklin, Paterson, NJ
Franklin — Real Estate & Neighborhood Guide
Top10Lists.us brings available neighborhood data and real estate research together for Franklin, Paterson, New Jersey. Explore the cited sources and local facts below while agent underwriting continues.
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Franklin Neighborhood Overview
Franklin is a historic and densely populated neighborhood located in the Northside section of Paterson, New Jersey. It is bounded roughly by the Passaic River to the west, Market Street to the south, and East 33rd Street to the north, with its eastern edge blending into the Eastside Park area. The neighborhood is named for Benjamin Franklin and is one of the city's oldest residential areas, with development closely tied to Paterson's industrial boom in the 19th and early 20th centuries.
The character of Franklin is defined by its grid-like streets lined with multi-family homes and its close-knit, working-class community. It is a neighborhood rich in architectural history, featuring many well-preserved examples of Victorian-era homes, duplexes, and brick apartment buildings that speak to its past as a home for silk mill and other factory workers. Today, it remains a vibrant, transit-accessible urban enclave with a strong sense of identity and resilience.
Housing & Real Estate
The housing stock in Franklin is predominantly composed of two- and three-family homes, many in the Victorian, Italianate, or Colonial Revival styles, alongside a significant number of brick apartment buildings and some smaller single-family homes. This mix creates a streetscape of considerable architectural interest. The neighborhood is primarily a community of renters, though a stable base of owner-occupants, often living in one unit of a multi-family home, contributes to its stability.
Real estate prices in Franklin are among the most accessible in the broader North Jersey region, attracting first-time homebuyers and investors. The market is characterized by its affordability relative to surrounding suburbs. Recent trends show a steady demand for housing, with ongoing renovations of historic properties. The neighborhood's affordability and proximity to New York City via nearby public transportation routes make it a practical option for many.
Schools & Education
Franklin is served by the Paterson Public School District. The neighborhood is home to several local schools, including the New Roberto Clemente Public School (serving grades 6-8) and the Dr. Hani Awadallah Public School (PreK-8). Paterson's charter school options, such as the Paterson Charter School for Science and Technology, also draw students from the area. Families in the neighborhood are actively engaged in their children's education, navigating a mix of traditional public and charter options.
Higher education and enrichment opportunities are nearby. Passaic County Community College's main campus is located just south in downtown Paterson, providing accessible two-year degree and continuing education programs. The Paterson Free Public Library's Northside Branch serves the community with resources and programs for all ages, acting as an important educational and cultural hub within the neighborhood.
Parks & Recreation
Franklin's primary green space is the historic Eastside Park, which lies on its eastern border. This sprawling, 60-acre Olmsted-designed park offers residents walking paths, playgrounds, sports fields, and a serene lake. It serves as the neighborhood's backyard and a venue for community gatherings, family picnics, and outdoor exercise. The park is also home to the Paterson Museum and the Lambert Castle, adding a cultural and historical dimension to its recreational appeal.
While Eastside Park is the crown jewel, smaller pocket parks and playgrounds are integrated within Franklin's residential blocks. The proximity to the Passaic River also provides opportunities for walking along certain stretches, though full riverfront access is limited. Recreation is largely community-oriented, with local basketball courts and youth sports leagues playing a central role in neighborhood life, especially during warmer months.
Local Dining & Shopping
Franklin is a neighborhood where daily needs are met by local, often family-owned, businesses. Its commercial corridors, particularly along Market Street and Madison Avenue, feature a diverse array of bodegas, grocery stores, barber shops, and service-oriented storefronts. Dining options reflect the community's multicultural makeup, with a strong presence of Dominican, Puerto Rican, and other Latin American restaurants and cafes serving authentic, affordable cuisine.
Notable local eateries include longstanding establishments serving traditional Hispanic dishes like mofongo, pernil, and rotisserie chicken. The neighborhood also boasts several popular bakeries and coffee shops that act as social centers. For more extensive shopping, residents often travel to the nearby ShopRite on Madison Avenue or to the malls and big-box retailers in the adjacent suburbs of Fair Lawn and Clifton, which are a short drive away.
Who Lives Here
Franklin is a neighborhood with a deeply rooted, predominantly Latino population, including many families with multigenerational ties to Paterson. It is a working-class community with a strong immigrant spirit, where residents often work in service, trade, and healthcare jobs throughout the region. The social fabric is tight-knit, with neighbors knowing each other and a palpable sense of mutual support on the tree-lined blocks.
The neighborhood also attracts a segment of artists, young professionals, and first-time homebuyers drawn by the historic architecture, affordability, and urban energy. This blend of long-term residents and new arrivals creates a dynamic and evolving community vibe. Ultimately, Franklin is defined by its resilience, its cultural pride, and its function as an accessible, no-frills urban neighborhood with a strong heart and a rich history.
Franklin Market Data
| Metric | Value |
|---|---|
| Median Home Price | $236K |
| Median Gross Rent | $1K/mo |
| Median Household Income | $89K |
| Homeownership Rate | 63.5% |
| Renter-Occupied | 36.5% |
| Rental Vacancy Rate | 7.3% |
| Market Type | Buyer's |
| Primary ZIP Code | 07416 |
Top Real Estate Agents in Franklin, Paterson
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Data Provenance
- State Licensing: New Jersey Real Estate Commission (NJREC) — nightly license verification
- Consumer Ratings: Zillow Consumer Reviews — 24-month rolling window
- Transaction Records: MLS Transaction Data — 3-year performance window
- Housing & Demographics: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates, 2022
- Neighborhood Catalog: Top10Lists.us neighborhood database, sourced from OpenStreetMap — last updated 2026-10-14