Millville, NJ—08332
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Millville, NJ
As of Oct '25, the median home price in Millville, NJ is $253,000, with a year-over-year change of 4.9%. This indicates that home prices in Millville, NJ are increasing. According to Zillow, the 1-year price projection is 2.9%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $253,000 | 4.9% |
| Single Family | $254,000 | 4.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $126,000 | 5.9% |
2 Bed | $193,000 | 6.0% |
3 Bed | $269,000 | 5.9% |
4 Bed | $339,000 | 5.9% |
| 5 Bed | $329,000 | 5.4% |
% of Housing Stock
Rental Trends — Millville, NJ
As of July '25, Rentcast reports the average rent in Millville, NJ is $1,670, with a year-over-year rent change of 5.7%. Per bedroom, the median rent as of July '25 in Millville, NJ is studios: $867, 1-bedrooms: $1,230, 2-bedrooms: $1,410, 3-bedrooms: $2,170, 4-bedrooms: $2,100. The most common rental property sizes in Millville, NJ are 2-bedroom and 1-bedroom, accounting for 33.6% and 32.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,500 | $1,670 |
| Studio Rent | $1,000 | $867 |
| 1 Bed Rent | $1,200 | $1,230 |
| 2 Bed Rent | $1,400 | $1,410 |
| 3 Bed Rent | $1,950 | $2,170 |
| 4 Bed Rent | $2,050 | $2,100 |
% of Rental Stock
Property Listings — Millville, NJ
As of Oct '25, Realtor.com reports that the median days on market for a home in Millville, NJ is 51. This is a increase of 9.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $286,000 | 6.0% |
Listing Count | 164 | 18.0% |
| Listings as % of Homes | 0.9% | 18.0% |
Days on Market | 51 | 9.0% |
Demographics — Millville, NJ
As of the latest ACS Survey released in 2023, Millville, NJ has a population of 35,200, which has decreased by -2.5% over the past 5 years. Millville, NJ is a moderately popular place for families, as children make up 22.1% of the population. The area has a poorly educated workforce, with 18.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 35,200 | -2.5% |
% Under 18 | 22.1% | -10.5% |
% Seniors | 17.9% | 20.1% |
% WFH | 4.6% | 253.8% |
% w/ College Degree | 18.1% | 20.7% |
As of the latest ACS Survey released in 2023, Millville, NJ is a predominantly white area, with 59.4% of the population identifying as white. The white population has shrunk by 6.2% in the last 5 years. The second most common race or ethnicity in Millville, NJ is hispanic, making up 16.9% of the population. Foreign-born residents account for 6.6% of the population in Millville, NJ, and this percentage has increased by 88.6% 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 | 59.4% | -6.2% |
% Black | 15.1% | -12.2% |
% Hispanic | 16.9% | 12.7% |
% Asian | 1.6% | -11.1% |
% Foreign Born | 6.6% | 88.6% |
Mortgage and Risk — Millville, NJ
According to HUD data as of 2023, there were 554 mortgage originations in Millville, NJ, of which 54.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 45.0% above 90% LTV (very high). This implies large mortgage risk in Millville, NJ. Investor activity is low, as 3.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 554 |
% Conventional Loans | 54.0% |
% Government Loans | 46.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Millville, NJ
As of 2024, the percent of homes in Millville, NJ under the Section 8 program is 18.1%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Millville, NJ, all tracked home sizes have HUD payment amounts above market rent, suggesting strong Section 8 opportunity across the board.
Section 8 Market Size
Total Units under HUD | 1,359 |
Total Units Section 8 | 870 |
% Rentals under Section 8 | 18.1% |
% Occupied Section 8 | 96.5% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $50 | $1,200 | $1,250 |
| 2 Bedroom | $160 | $1,400 | $1,560 |
| 3 Bedroom | $170 | $1,950 | $2,120 |
| 4 Bedroom | $90 | $2,050 | $2,140 |
Affordability — Millville, NJ
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $253,000 |
| Median Household Income | $65,800 |