Millington, NJ—07946
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Millington, NJ
As of Oct '25, the median home price in Millington, NJ is $847,000, with a year-over-year change of 3.7%. This indicates that home prices in Millington, NJ are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $847,000 | 3.7% |
| Single Family | $853,000 | 4.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $716,000 | 3.6% |
4 Bed | $949,000 | 5.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Millington, NJ
As of July '25, Rentcast reports the average rent in Millington, NJ is $5,080, with a year-over-year rent change of 8.8%. Per bedroom, the median rent as of July '25 in Millington, NJ is 2-bedrooms: $2,750, 3-bedrooms: $6,250. The most common rental property sizes in Millington, NJ are 3-bedroom and 4-bedroom, accounting for 44.1% and 42.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $6,000 | $5,080 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $2,750 | $2,750 |
| 3 Bed Rent | $6,000 | $6,250 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Millington, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Millington, NJ is 22. This is a decrease of -23.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $1,170,000 | 45.0% |
Listing Count | 3 | -46.0% |
| Listings as % of Homes | 0.6% | -46.0% |
Days on Market | 22 | -23.0% |
Demographics — Millington, NJ
As of the latest ACS Survey released in 2023, Millington, NJ has a population of 3,100, which has decreased by -2.4% over the past 5 years. Millington, NJ is a moderately popular place for families, as children make up 18.2% of the population. The area has a highly educated workforce, with 61.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 19.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,100 | -2.4% |
% Under 18 | 18.2% | -27.8% |
% Seniors | 19.5% | 33.6% |
% WFH | 19.3% | 407.9% |
% w/ College Degree | 61.3% | -9.3% |
As of the latest ACS Survey released in 2023, Millington, NJ is a predominantly white area, with 82.6% of the population identifying as white. The white population has shrunk by 6.9% in the last 5 years. The second most common race or ethnicity in Millington, NJ is hispanic, making up 6.9% of the population. Foreign-born residents account for 15.0% of the population in Millington, NJ, and this percentage has increased by 7.9% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 82.6% | -6.9% |
% Black | 0.0% | N/A |
% Hispanic | 6.9% | 64.3% |
% Asian | 6.2% | 24.0% |
% Foreign Born | 15.0% | 7.9% |
Mortgage and Risk — Millington, NJ
According to HUD data as of 2023, there were 55 mortgage originations in Millington, NJ, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 46.0%, with 7.0% above 90% LTV (normal). This implies small mortgage risk in Millington, NJ. Investor activity is low, as 0.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 55 |
% Conventional Loans | 98.0% |
% Government Loans | 2.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — Millington, NJ
Millington, NJ lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $2,170 |
| 2 Bedroom | -$60 | $2,750 | $2,690 |
| 3 Bedroom | -$2,710 | $6,000 | $3,290 |
| 4 Bedroom | N/A | N/A | $3,780 |
Affordability — Millington, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.4 |
| Median Home Price | $847,000 |
| Median Household Income | $213,000 |