Montville, NJ real estate: the numbers, explained.

Home values in Montville

The NJ Division of Taxation’s 2026 Average Residential Statistics show an average residential sale price of $953,813 across 152 sales used in that report.

The Census Bureau’s survey puts the median value of owner-occupied homes, as estimated by owners, at $700,200 (2020–2024 average), compared with a Morris County town median of $592,600.

Montville property taxes

Montville’s 2025 general tax rate was 2.673 per $100 of assessed value, and its effective tax rate was 1.927%, lower than the Morris County town median of 2.004% and lower than the statewide municipal median of 2.141%. That ranks it #14 lowest of 39 Morris County municipalities by effective rate. The average residential tax bill was $14,423 on an average assessment of $539,597 across 7,147 residential properties.

Applied to the average sale price of $953,813, the effective rate implies roughly $18,380 a year ($1,532 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 $953,813 home with 20% down ($190,763) 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 $5,169 a month. With estimated property tax that’s about $6,701, before insurance, any HOA fee and utilities. For comparison, the Census median gross rent in Montville is $2,372 and Zillow’s observed rent index (asking rents, Sept. 2026) is $3,054.

Run my numbers for MontvilleRent vs buy here

Who lives in Montville

About 22,876 people live in Montville. 87.7% of occupied homes are owner-occupied (county town median 81.9%), so the market is mostly owner-occupied single homes. 66.2% of housing units are single-family detached houses. The median resident age is 45, and 68.8% of adults 25 and older hold a bachelor’s degree or higher. Median household income is $169,083, higher than the county town median of $154,923.

The median home in Montville was built in 1979. 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 Montville

Workers in Montville average 32.6 minutes each way (those who don’t work from home), longer than the Morris County town median of 29.6 minutes. 5.4% commute by public transportation, so most commuters drive and 25.6% work from home.

Schools

I don’t republish unofficial school scores. For Montville, 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 Montville’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 Morris towns. Compare with the town comparison tool.
• Sellers: with fewer public market indexes for Montville, a comparable-sales analysis matters more. Get a free home value.

Nearby towns at a similar price