Market Overview
Home Prices in Milltown, NJ
The median home value in Milltown, NJ is $626,971 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 6.5% compared to a year ago and up 6.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Milltown are priced53% above average. Milltown is part of the New York-Newark-Jersey City, NY-NJ-PA metro area.
Over the past five years, Milltown home values have risen by approximately44.1%, reflecting strong long-term appreciation in this market.
Price History
Milltown Home Price Trend
City Comparison
Milltown vs. National Median
At $626,971, homes in Milltown cost 53% above the national median of $410,000. Buyers in Milltown should expect to pay a premium compared to most U.S. markets.
Affordability
What Does It Cost to Buy in Milltown?
20% Down Payment
$125,394
on $626,971
Monthly P&I
$3,270/mo
30-yr @ 6.8%
Total Monthly Est.
~$4,153/mo
incl. taxes & insurance
Income Needed
$166,120
gross annual (30% rule)
10% Down Option
$62,697
+ PMI applies
Loan Amount (20% dn)
$501,577
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 Milltown, NJ?
The median home value in Milltown is $626,971 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 6.5% year-over-year.
How much have home prices changed in Milltown?
Over the past year, home values in Milltown have increased by 6.5%. Over five years, prices have risen approximately 44.1%.
How much do I need to earn to buy a home in Milltown?
To comfortably afford the median home price of $626,971 with a 20% down payment ($125,394) at today's rates (6.8%), you'd need a gross annual income of approximately $166,120. This assumes keeping total housing costs at or below 30% of gross income.
How does Milltown compare to the national average home price?
The national median home value is approximately $410,000. At $626,971, homes in Milltown are 53% above the national average.
What metro area is Milltown part of?
Milltown 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.