Cost of Living in Millburn
Millburn's cost of living carries a real, internal split this record does not flatten into one townshipwide figure: Short Hills runs genuinely, substantially above downtown Millburn on both income and housing cost.
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Learn moreA genuine income split within one township
Millburn Township's overall median household income ran $226,376 (with a substantially higher $413,445 AVERAGE, reflecting a real upper-income tail), while Short Hills specifically ran higher still, at a $250,001 median household income -- a real, disclosed internal spread.
A genuine housing-cost split, too
Downtown Millburn's own Zillow average home value ran $1,332,657 (up 8.8% YoY, $1,250,000 July 2026 median sale price) -- already among the higher housing costs in this project's New Jersey buildout. Short Hills ran substantially higher still: a $2,389,321 average home value (up 6.9% YoY) and a $2.3 million three-month median sale price.
A comparatively favorable property-tax rate for New Jersey
Millburn's own 1.96% effective property-tax rate (Ownwell) runs below the broader Essex County average of approximately 3.11% -- genuinely high by national standards but comparatively favorable within Essex County specifically.
New Jersey's statewide tax structure still applies
New Jersey's real, graduated 7-bracket state income tax (1.4% up to 10.75% above $1 million) and uniform, no-local-add-on 6.625% sales tax both apply in Millburn exactly as documented statewide.
Key takeaways
- Short Hills' median household income ($250,001) runs genuinely above Millburn Township's overall median ($226,376).
- Short Hills' housing costs (average value $2,389,321) run substantially above downtown Millburn's own already-high figures ($1,332,657).
- Millburn's 1.96% effective property-tax rate beats the broader Essex County average of approximately 3.11%.
- New Jersey's graduated income tax and uniform 6.625% sales tax apply statewide, including in Millburn.
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