Cost of Living in Milltown, NJ
Population 6,994 · New Jersey · Data vintage 2023
(100 = US avg)
Milltown is a smaller New Jersey community of around 7000 residents, where median household incomes of $119,958 and housing costs ($423,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape.
Milltown sits roughly 20 miles southwest of Elizabeth — close enough that regional housing and labor patterns are shaped largely by the larger market. Housing prices track closely with Elizabeth's $394,000 median.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Milltown
The median home value in Milltown is $423,000 — 39% above the national median of $305,000. Median rent runs $1,500/month, 14% higher than the national median of $1,314/month. The median household income of $119,958/year is 61% higher than the US median of $74,580. The local unemployment rate is 4.8%, below the national average of 4.8%. New Jersey's top state income tax rate is 10.8% and the combined sales tax is 6.6%. The climate averages highs of 63.6°F and lows of 41.4°F. Overall, Milltown has a cost of living index of 129 versus the US average of 100, meaning it is 29% more expensive.
Milltown has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 39 | 43 | 51 | 63 | 73 | 81 | 86 | 84 | 78 | 66 | 55 | 44 |
| Low °F | 21 | 22 | 30 | 39 | 48 | 58 | 63 | 61 | 54 | 42 | 33 | 26 |
| Precip" | 3.16 | 2.20 | 3.89 | 3.59 | 3.54 | 4.23 | 4.93 | 5.18 | 3.82 | 3.67 | 3.41 | 3.87 |
💨 Air Quality
EPA AQS 2023 — county-level monitoring data
Frequently Asked Questions
What is the cost of living in Milltown, NJ?
Milltown has a cost index of 129 (100 = national average). It is 29% above the national average.
What is average rent in Milltown, NJ?
The median gross rent in Milltown is $1,500 per month based on 2023 Census data.
What is the average home price in Milltown?
The median home value in Milltown is $423,000 according to Zillow and Census data.
What is the median income in Milltown?
The median household income in Milltown is $119,958 per year (2023 ACS 5-year estimates).
What is the sales tax in Milltown, NJ?
The combined state and local sales tax rate in Milltown is 6.6%. The New Jersey state income tax top rate is 10.8%.
Is Milltown, NJ affordable?
Milltown is above average in cost of living, with an index of 129 — about 29% higher than the national average.
What is the weather like in Milltown?
Milltown has average high temperatures of 63.6°F and average lows of 41.4°F. Annual precipitation is 45.5". Data from NOAA 1991–2020 Climate Normals.
Milltown at a Glance
- Population
- 6,994
- Median Income
- $119,958
- Home Value
- $423,000
- Median Rent
- $1,500/mo
- Unemployment
- 4.8%
- Avg High Temp
- 63.6°F
- Sales Tax
- 6.6%
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New Jersey Rankings
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