Race & Ethnicity
Age Breakdown
Key Indicators
| Median Age | 39.0 yrs |
|---|---|
| Avg HH Size | 2.94 |
| Below Poverty | 3.9% ▼ 61% below avg |
| College Grads | 84.7% ▲ 119% above avg |
| Unemployment | 6.3% ▲ 28% above avg |
| No HS Diploma | 13 (0.3%) |
| HS Graduate | 381 (8.5%) |
| Some College | 67 (1.5%) |
| Associates | 226 (5%) |
| Bachelors | 107 (2.4%) |
| Graduate Degree | 3,687 (82.3%) |
Education
Housing Tenure
Home Value Distribution
Financials
| Median HH Income | $220,923 ▲ 190% above avg |
|---|---|
| Median Home Value | $935,900 ▲ 236% above avg |
| Home/Income Ratio | 4.2x (nat avg ~3.5x) |
| Median Rent | $1,969/mo |
| Total Housing Units | 2,843 |
| Vacant Units | 264 |
Income Distribution
How People Get to Work
Commute Time
Year Built
Millburn is a city in New Jersey, located in Essex County. The city spans 1 ZIP code and is home to approximately 7,610 residents. It is a middle-aged city, with a median age of 39 years.
Economically, Millburn is a affluent community. The median household income of $220,923 is more than double the national average. Approximately 3.9% of residents live below the poverty line. The unemployment rate is 6.3%, above the national average.
The real estate market in Millburn is among the most expensive housing markets in the country. Median home values stand at $935,900, which is more than double the national average. Renters typically pay around $1,969 per month. Homeownership is high at 68.1%, typical of suburban and family-oriented communities.
The population of Millburn is highly educated. 84.7% of adults hold a bachelor's degree or higher — more than double the national average. The community is racially diverse, with White as the largest group at 48.7%.
Millburn, NJ offers residents above-average earning potential within New Jersey.
| ZIP | Population | Median Income | Median Home | Median Rent | Unemp. | College | Owner Occ. |
|---|---|---|---|---|---|---|---|
| 07041 | 7,610 | $220,923 | $935,900 | $1,969 | 6.3% | 84.7% | 68.1% |