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City Report · NJ

Millburn

·11th most expensive in New Jersey·One of the pricier rental markets in the US
Median rent (all units)
$3,809/mo
Year-over-Year
Stable
Month-over-Month
+10.3%
vs US Median
+$1,844
Rising (Monthly)
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Most AffordableMost Expensive
Millburn · $3,809
More expensive than 97% of US cities · National median $1,965/mo
Affordability
63% of income
EXPENSIVE
0%30% benchmark60%+

At $3,809/mo, rent takes about 63% of the US median household income, well above the 30% benchmark.

Income to afford
$152,000/yr
US median income
$72,000/yr
Based on the 30%-of-income rule using Millburn's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,900
1 BR
$2,170
2 BR
$2,620
3 BR
$3,300
4 BR+
$3,750
Research median
$2,620/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$45,708/yr
At $3,809/mo median
Rent Market Meter
Strong Landlord's Market
Renter's MarketBalancedLandlord's Market
Rents are up 0.0% year-over-year. Expect competition, and move quickly to lock in terms.
Based on rent-price momentum (+0.0% YoY, +10.3% MoM), not inventory.
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Community

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View Millburn rent history (2015–2026) →
Salary vs rent

Can you afford rent in Millburn on your salary?

At $3,809/mo, how Millburn rent compares to typical pay (30% rule).

By apartment size

Millburn rent by bedroom count

Median rent for each apartment size in Millburn. Click any size for full breakdown.

Local insights

Tips for renters in Millburn

About renting in Millburn, NJ

Last updated: July 20, 2026

The median rent in Millburn is $3,809/mo as of July 2026. A studio apartment averages $1,900/mo while a 2-bedroom runs $2,620/mo. One-bedroom apartments average $2,170/mo and 3-bedroom units go for $3,300/mo.

At 63% of estimated US median household income ($72,000/yr), Millburn ranks as expensive compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Millburn an affordable city for renters?

Millburn is considered expensive for renters. At $3,809/mo, rent takes approximately 63% of the US median household income ($72,000/yr). The standard benchmark is 30%. Millburn significantly exceeds that threshold, making it challenging for many renters.

How much income do you need to rent in Millburn?

To keep rent at or below 30% of gross income, you would need to earn at least $152,000/year (~$73/hour full-time) to afford the median rent of $3,809/mo in Millburn.

Is rent going up or down in Millburn?

Rent in Millburn has been relatively stable over the past year, with a 0.0% change year over year as of July 2026.

How does Millburn rent compare to other cities in New Jersey?

Millburn is one of the pricier cities in New Jersey for rent, ranking #11 out of 180 tracked cities at $3,809/mo.

Which nearby cities are cheaper to rent in than Millburn?

Several nearby cities have lower median rents than Millburn ($3,809/mo): Union ($2,518/mo), Springfield ($2,694/mo), Maplewood ($2,718/mo).

How does Millburn rent compare to the national average?

Millburn's median rent of $3,809/mo is $1,844 (94%) above the US national median of $1,965/mo. Within New Jersey, it ranks #11 out of 180 tracked cities.
Income Affordability
63%
EXPENSIVE

At $3,809/mo, rent takes ~63% of US median household income ($72,000/yr). The standard benchmark is 30%.

Millburn 63%Benchmark 30%
State income tax1.4–10.75%
Run the Millburn affordability calculator →
Lowest-rent ZIP codes in Millburn
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Millburn, NJ

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