The housing market in 07041 Millburn, NJ is quite substantial compared to the median US house value. The median housing value in Millburn is $929,800 while the US median house value is $338,100. The appreciation of US houses increased 8.27% over the past year, but homes in Millburn saw an even higher appreciation rate of 10.07%. This shows that there has been a strong demand for real estate in this area and buyers are willing to pay the premium for properties located here.
The median home cost in Millburn (zip 07041) is $929,800. Home appreciation the last 10 years has been 66.2%. Home Appreciation in Millburn (zip 07041) is up 13.9%.
Average Age of Homes
- The median age of Millburn (zip 07041) real estate is 75 years old
The Rental Market in Millburn (zip 07041)
- Renters make up 36.9% of the Millburn (zip 07041) population
- 0.8% of houses and apartments in Millburn (zip 07041), are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.