Market Overview
Home Prices in Millburn, NJ
The median home value in Millburn, NJ is $1,332,657 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 8.8% compared to a year ago and up 4.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Millburn are priced225% above average. Millburn is part of the New York-Newark-Jersey City, NY-NJ-PA metro area.
Over the past five years, Millburn home values have risen by approximately53.0%, reflecting strong long-term appreciation in this market.
Price History
Millburn Home Price Trend
City Comparison
Millburn vs. National Median
At $1,332,657, homes in Millburn cost 225% above the national median of $410,000. Buyers in Millburn should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Millburn?
20% Down Payment
$266,531
on $1,332,657
Monthly P&I
$6,950/mo
30-yr @ 6.8%
Total Monthly Est.
~$8,827/mo
incl. taxes & insurance
Income Needed
$353,080
gross annual (30% rule)
10% Down Option
$133,266
+ PMI applies
Loan Amount (20% dn)
$1,066,126
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Millburn, NJ?
The median home value in Millburn is $1,332,657 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 8.8% year-over-year.
How much have home prices changed in Millburn?
Over the past year, home values in Millburn have increased by 8.8%. Over five years, prices have risen approximately 53.0%.
How much do I need to earn to buy a home in Millburn?
To comfortably afford the median home price of $1,332,657 with a 20% down payment ($266,531) at today's rates (6.8%), you'd need a gross annual income of approximately $353,080. This assumes keeping total housing costs at or below 30% of gross income.
How does Millburn compare to the national average home price?
The national median home value is approximately $410,000. At $1,332,657, homes in Millburn are 225% above the national average.
What metro area is Millburn part of?
Millburn is part of the New York-Newark-Jersey City, NY-NJ-PA metropolitan area. Home prices and market conditions can vary across the broader metro region.