Milltown, NJ
Population 6,994 · New Jersey
About Milltown, NJ
Milltown is a small community in New Jersey with a population of 6,994 residents. The median household income is $119,958 per year, which is above the national average. The median age in Milltown is 40.3 years.
Housing in Milltown has a median home value of $423,000 and median monthly rent of $1,500. Of the 2,632 total housing units, the majority are owner-occupied, with 1,949 owner-occupied and 615 renter-occupied units.
The unemployment rate in Milltown is 4.8% and the poverty rate is 1.1%. 43.2% of residents hold a bachelor's degree or higher. The average commute time is 29 minutes.
Cost of Living in Milltown, NJ
Compared to national averages, Milltown has a median household income of $119,958 (60% above the national median of $75,149). Home values average $423,000, which is 73% above the national median. Monthly rent at $1,500 is 29% above the US average of $1,163. Within New Jersey, Milltown's income is 4% above the state average of $115,667, and home values are 10% below the state median of $469,644.
Why Live in Milltown, NJ?
Milltown offers a strong local economy with a median household income of $119,958, well above the national average, and a well-educated community where 43.2% of residents hold a bachelor’s degree or higher, and a low poverty rate of 1.1%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $423,000. However, Milltown’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Milltown has a population of 6,994 with a median age of 40.3 years. Compare Milltown with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Milltown
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Midland Park | 6,996 | $140,063 | $586,200 | Compare |
| Mountainside | 6,967 | $210,100 | $755,600 | Compare |
| Stratford | 6,965 | $100,735 | $238,200 | Compare |
| Linwood | 6,954 | $135,904 | $351,100 | Compare |
| Barrington | 7,047 | $84,334 | $244,400 | Compare |
| Lincroft | 6,901 | $168,945 | $719,000 | Compare |
| Keyport | 7,159 | $79,036 | $374,800 | Compare |
| Allendale | 6,820 | $156,992 | $764,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Jersey
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Milltown
What is the population of Milltown, NJ?
The population of Milltown, NJ is 6,994 according to the latest Census data.
What is the median household income in Milltown?
The median household income in Milltown, NJ is $119,958 per year.
What is the median home value in Milltown?
The median home value in Milltown, NJ is $423,000.
What is the average rent in Milltown?
The median monthly rent in Milltown, NJ is $1,500.
What is the unemployment rate in Milltown?
The unemployment rate in Milltown, NJ is 4.8%.