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 $988,207 across 68 sales used in that report.

The Census Bureau’s survey puts the median value of owner-occupied homes, as estimated by owners, at $737,400 (2020–2024 average), compared with a Monmouth County town median of $666,900.

Millstone property taxes

Millstone’s 2025 general tax rate was 2.116 per $100 of assessed value, and its effective tax rate was 1.429%, lower than the Monmouth County town median of 1.607% and lower than the statewide municipal median of 2.141%. That ranks it #21 lowest of 52 Monmouth County municipalities by effective rate. The average residential tax bill was $13,112 on an average assessment of $619,645 across 3,127 residential properties.

Applied to the average sale price of $988,207, the effective rate implies roughly $14,121 a year ($1,177 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 $988,207 home with 20% down ($197,641) 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 $5,356 a month. With estimated property tax that’s about $6,532, before insurance, any HOA fee and utilities. For comparison, the Census median gross rent in Millstone is $3,501.

Run my numbers for MillstoneRent vs buy here

Who lives in Millstone

About 10,385 people live in Millstone. 98.1% of occupied homes are owner-occupied (county town median 72.3%), so the market is mostly owner-occupied single homes. 99.4% of housing units are single-family detached houses. The median resident age is 45, and 53.8% of adults 25 and older hold a bachelor’s degree or higher. Median household income is $218,472, higher than the county town median of $121,908.

The median home in Millstone was built in 1991. Newer housing stock usually means fewer legacy issues like buried oil tanks or lead paint, but still inspect roofs, HVAC age and drainage, and check any HOA’s finances.

Commuting from Millstone

Workers in Millstone average 35.8 minutes each way (those who don’t work from home), longer than the Monmouth County town median of 32.0 minutes. 1.5% commute by public transportation, so most commuters drive and 16.7% 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: a below-county-median effective tax rate stretches your budget further here than in many Monmouth towns. Compare with the town comparison tool.
• Sellers: with fewer public market indexes for Millstone, a comparable-sales analysis matters more. Get a free home value.

Nearby towns at a similar price