What is the population of Milltown borough?

Milltown borough has 6,994 residents on Census ACS 2019-2023 ACS 5-year estimates, ranking #229 of 700 in New Jersey.

What is the median household income in Milltown borough?

Median household income in Milltown borough is $119,958 a year, 52.7% above the national figure of $78,538.

How much does it cost to rent or buy in Milltown borough?

Median gross rent is $1,500 a month and the median home value is $423,000, so rent absorbs about 15% of median household income.

Is Milltown borough affordable compared with the rest of the US?

Homes cost about 3.5× the local median income here versus roughly 3.9× nationally, so Milltown borough is more affordable to buy in than the typical US market, and rent takes 15% of median income against the 30% cost-burden line.

Aerial view of a dense city center, illustrating the US cities ZIP code directory

New Jersey · Census place 46620

Milltown, NJ population, income and ZIP codes

Quick answer

The population of the city of Milltown, New Jersey (Milltown, NJ — Census place “Milltown borough”) is 6,994 residents, ranking #229 of 700 places in New Jersey. Median household income is $119,958, the median home is worth $423,000 and median gross rent runs $1,500 a month. Looking for the Milltown New Jersey ZIP code list? 1 ZIP codes serve Milltown, NJ: 08850.

Population: 6,994Milltown borough residents
Median household income: $119,958Past 12 months, inflation adjusted
Median home value: $423,000Owner-occupied units
Median gross rent: $1,500Rent plus utilities, monthly
Median age: 40.3 yrsAll residents
Homeownership rate: 76%Owner-occupied households

Milltown ZIP codes (New Jersey)

Census ZCTAs whose delivery area overlaps Milltown.

The Milltown NJ ZIP code list below covers 1 ZIP code. Open any one for its population, income, housing and rent profile.

08850

What the numbers mean in Milltown borough

Housing cost measured against local earnings.

A household earning the Milltown borough median would spend about 15% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 3.5× the median household income; nationally that ratio sits near 4.5×. Poverty affects 1.1% of residents and 76% of households own their home.

Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year

Milltown borough, NJ in context

How this area compares with national benchmarks.

Milltown borough is a mid-size town in New Jersey, with 6,994 residents counted in the Census American Community Survey 2019-2023 ACS 5-year estimates, which places it #229 of 700 ranked by population — larger than 67% of them. The median age here is 40.3 years against 39.1 nationally, a slightly older profile than the country as a whole. Places under 65,000 residents only appear in the five-year release, never the one-year file, so these values pool sixty months of responses and lag the current year by design.

Households in Milltown borough earn a median of $119,958 a year, 52.7% above the national figure of $78,538 and 12% above the $106,926 median for the 543 New Jersey cities we cover. This figure covers the household, not the worker: two people on ordinary wages at one address outrank a single professional in the same table. Poverty reaches 1.1% of residents here, less than half the 12.4% national rate.

The typical owner-occupied home in Milltown borough is valued at $423,000, 39.4% above the national figure and 3% above the $412,500 peer median, while median gross rent runs $1,500 a month, 6.7% above the national figure, or roughly $18,000 across a full year. A household on the local median income would put about 15% of gross pay toward that rent against the federal 30% cost-burden threshold, so renting here is cheap relative to what people here earn. The home-price-to-income ratio works out to 3.5×, against roughly 3.9× nationally, so buying is easier here than in the average US market. 76% of occupied homes are owner-occupied versus 65% nationally, so the market leans toward owners. Rent is reported gross — contract rent plus tenant-paid utilities — which is why it runs above the advertised price on a listing for the same unit.

No figure on this page is estimated by us; each one comes straight from the published ACS tables for this area. Small-area estimates still carry wider margins of error than state or national figures, so check the linked ACS tables before relying on them for lending, appraisal or legal work.

Compare with nearby places

Places of similar size in New Jersey.

More New Jersey coverage.

Frequently asked questions

Common questions about this area.

What is the population of Milltown borough?: Milltown borough has 6,994 residents on Census ACS 2019-2023 ACS 5-year estimates, ranking #229 of 700 in New Jersey.
What is the median household income in Milltown borough?: Median household income in Milltown borough is $119,958 a year, 52.7% above the national figure of $78,538.
How much does it cost to rent or buy in Milltown borough?: Median gross rent is $1,500 a month and the median home value is $423,000, so rent absorbs about 15% of median household income.
Is Milltown borough affordable compared with the rest of the US?: Homes cost about 3.5× the local median income here versus roughly 3.9× nationally, so Milltown borough is more affordable to buy in than the typical US market, and rent takes 15% of median income against the 30% cost-burden line.
How current is this Milltown borough data?: All figures come from the US Census Bureau American Community Survey 2019-2023 ACS 5-year five-year estimates. Places under 65,000 residents only appear in the five-year release, never the one-year file, so these values pool sixty months of responses and lag the current year by design.