Millstone, NJ real estate: the numbers, explained.

Home values in Millstone

The NJ Division of Taxation’s 2026 Average Residential Statistics show an average residential sale price of $680,500 across 2 sales used in that report. That is a small sample, so treat it as a rough marker.

The Census Bureau’s survey puts the median value of owner-occupied homes, as estimated by owners, at $494,500 (2020–2024 average), compared with a Somerset County town median of $547,600.

Millstone property taxes

Millstone’s 2025 general tax rate was 2.154 per $100 of assessed value, and its effective tax rate was 2.03%, about the same as the Somerset County town median of 2.030% and lower than the statewide municipal median of 2.141%. That ranks it #11 lowest of 21 Somerset County municipalities by effective rate. The average residential tax bill was $8,823 on an average assessment of $409,599 across 154 residential properties.

Applied to the average sale price of $680,500, the effective rate implies roughly $13,814 a year ($1,151 a month) in property tax. The Division publishes the effective rate for comparing towns, not for computing a specific bill, so use it as a ballpark.

What it costs to own vs. rent

For a $680,500 home with 20% down ($136,100) and a 30-year fixed loan at 7.18%, Freddie Mac’s national average for the week of November 5, 2026, principal and interest come to about $3,688 a month. With estimated property tax that’s about $4,839, before insurance, any HOA fee and utilities. For comparison, the Census median gross rent in Millstone is $1,375.

Run my numbers for MillstoneRent vs buy here

Who lives in Millstone

About 655 people live in Millstone. 89.9% of occupied homes are owner-occupied (county town median 79.6%), so the market is mostly owner-occupied single homes. 92.2% of housing units are single-family detached houses. The median resident age is 38.5, and 46.5% of adults 25 and older hold a bachelor’s degree or higher. Median household income is $141,709, lower than the county town median of $148,056.

The median home in Millstone was built in 1956. Much of the housing predates 1978, so buyers should plan for older-home checks: lead-based paint disclosure, an oil-tank sweep if the house ever had oil heat, knob-and-tube or older electrical, galvanized plumbing, and a sewer-line scope. See the NJ inspection checklist.

Commuting from Millstone

Workers in Millstone average 30.3 minutes each way (those who don’t work from home), about the same as the Somerset County town median of 30.4 minutes. 0.7% commute by public transportation, so most commuters drive and 9.2% work from home.

Schools

I don’t republish unofficial school scores. For Millstone, start with the New Jersey Department of Education’s School Performance Reports, then confirm the exact school assignment for any address with the district, since some NJ towns send students to regional or neighboring high schools. See how to research NJ schools.

Downtown, food and things to do

The best way to judge Millstone’s restaurants, parks and weekend life is in person. Visit on a weeknight and a Saturday morning, check the town recreation calendar and walk the blocks you’d live on. My town scouting checklist shows what to look for.

My take for buyers, sellers and renters

• Buyers: taxes run above the county median, so budget on the tax bill, not just the price. Ask for the current bill on every listing.
• Sellers: with fewer public market indexes for Millstone, a comparable-sales analysis matters more. Get a free home value.
• Low turnover: about 2 residential sales were in the state’s 2026 report, so good listings can be scarce. Set alerts and be ready to act.

Nearby towns at a similar price