Township Of Millburn NJ Demographic Data and Boundary Map
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Township Of Millburn, NJ
The Township Of Millburn is a County Subdivision of Essex County.
The subdivision has a T1 Census Class Code which indicates that the Township Of Millburn is an active county subdivision that is not coextensive with an incorporated place.
Township Of Millburn Data & Demographics (As of July 1, 2024)
POPULATION
Total Population
22,165 (100%)
Population in Households
22,158 (100.0%)
Population in Families
20,594 (92.9%)
Population in Group Quarters1
7 ( 0.0%)
Population Density
2,375
Diversity Index2
61
INCOME
Median Household Income
$200,001
Average Household Income
$309,201
% of Income for Mortgage4
41%
Per Capita Income
$98,906
Wealth Index5
300
HOUSING
Total HU (Housing Units)
7,405 (100%)
Owner Occupied HU
5,689 (76.8%)
Renter Occupied HU
1,401 (18.9%)
Vacant Housing Units
315 ( 4.3%)
Median Home Value
$1,309,397
Average Home Value
$1,390,099
Housing Affordability Index3
50
HOUSEHOLDS
Total Households
7,090
Average Household Size
3.13000000000
Family Households
5,947
Average Family Size
3
NOTES
Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
