Living in Millburn, New Jersey
Cost of living, income, home prices, rent and demographics of Millburn · Census data 2020–2024
Millburn has 22,145 residents with a median age of 41. The median household income is $250,001 (141% higher than the New Jersey median), the median home value is $1,371,500, the median rent is $2,262/month.
Millburn at a glance
- Population
- 22,145
- Median age
- 41State: 40.1
- Median household income
- $250,001State: $103,556
- Median home value
- $1,371,500State: $454,400
- Median rent
- $2,262/moState: $1,720
- Homeowners
- 81.3%
- Bachelor's degree or higher
- 90%
- Average commute
- 42 min
Is Millburn a good place to live?
Pros: Median household income 141% higher than the New Jersey median; unemployment of 4.3%; a poverty rate of 3%.
Cons: Home values 202% higher than the state median; an average commute of 42 minutes.
The weather is best in May–June and August–September.
Cost of living in Millburn
Housing is the biggest part of the cost of living. In Millburn the median home value is $1,371,500, 312% higher than the U.S. median. Renters pay a median of $2,262 per month, which is 31.2% of household income. Homeowners with a mortgage pay $4,001 a month in housing costs.
Millburn median household income
The median household income in Millburn is $250,001 and the income per person is $140,337. 3% of residents live below the poverty line (New Jersey: 9.7%).
Housing in Millburn: homes for sale and rent
- Housing units
- 7,436
- Owner-occupied
- 81.3%
- Renter-occupied
- 18.7%
- Vacant
- 3.8%Includes seasonal homes
- Median year built
- 1954
- Average household size
- 3.09
Millburn demographics
- Population
- 22,145
- Median age
- 41
- Under 18
- 30.5%
- 65 and older
- 12.9%
- Households
- 7,156
- Foreign-born
- 33%
- Veterans
- 1%Adults 18+
Hispanic or Latino can be of any race. Population history of Millburn ›
Education in Millburn
90% of adults 25 and older in Millburn have a bachelor's degree or higher (New Jersey: 43.6%), and 58% have a graduate or professional degree.
Jobs and commute in Millburn
- Unemployment rate
- 4.3%State: 6.3%
- Average commute
- 42 minState: 31 min
- Work from home
- 36%
- Drive alone
- 36.4%
- Public transit
- 22.1%
- Walk to work
- 1.8%
- Homes with broadband
- 98.7%
Millburn vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Millburn | 22,145 | $250,001 | $1,371,500 | $2,262 |
| Short Hills | 14,923 | $250,001 | $1,674,100 | $3,126 |
| Vauxhall | 6,157 | $111,421 | $360,000 | $1,830 |
| Maplewood | 25,613 | $173,500 | $720,700 | $2,269 |
| Summit | 22,705 | $190,304 | $994,500 | $2,430 |
| Livingston | 31,488 | $229,806 | $821,100 | $2,949 |
| Springfield | 17,171 | $155,906 | $636,600 | $2,188 |
| Chatham | 9,407 | $241,500 | $984,900 | $2,250 |
| Union | 61,071 | $119,464 | $451,300 | $2,064 |
More for people moving to Millburn
Millburn ZIP code ›Weather and climate ›Living in Millburn: FAQ
What is the median household income in Millburn, NJ?
The median household income in Millburn is $250,001, 141% higher than the New Jersey median of $103,556 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Millburn?
The median home value in Millburn is $1,371,500, compared with $454,400 in New Jersey.
How much is rent in Millburn?
The median gross rent in Millburn is $2,262 per month, about 31.2% of household income.
Is Millburn, NJ a good place to live?
Pluses: median household income 141% higher than the New Jersey median; unemployment of 4.3%; a poverty rate of 3%. Minuses: home values 202% higher than the state median; an average commute of 42 minutes.
What is the median age in Millburn?
The median age in Millburn is 41 years (New Jersey: 40.1).
How long is the commute in Millburn?
The average commute to work in Millburn is 42 minutes; 36% of workers work from home.
What is the unemployment rate in Millburn?
The unemployment rate in Millburn is 4.3% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Millburn?
90% of adults in Millburn have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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