Cost of Living in Milltown, NJ
Housing
The housing market plays a significant role in determining the cost of living in Milltown, NJ.
- Housing Index: 118.8 / 100
- Median Home Price is: $392,500
- Average Rent (2 BR Apartment): $2586 per month
- Average Rent (2 BR House): $2811 per month
Considering a move to Milltown, NJ? The current housing index stands at 118.8, indicating a moderately competitive market. With a median home price of 392500, it’s essential to weigh whether purchasing is preferable to renting. Average rents for a 2BR apartment are at 2586 and a 2BR house at 2811. Keep in mind that housing costs typically comprise a significant part of your budget. Evaluating your long-term plans and alignment with local amenities will guide you in making an informed decision on your next living situation.
Utilities
The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Milltown, NJ.
- Electricity Price: $19.88 USD (median by state)
- Natural Gas Price: $14.01 USD per Thousand Cubic Feet (median by state)
- Other Utilities (water, garbage, etc.): $261 per month
Living in Milltown, NJ could entail higher utility costs. Electricity costs sit at $19.88, while natural gas is priced at $14.01 per Thousand Cubic Feet — both aligning with state medians. Expect to budget about $261 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Milltown is a financially viable option for your relocation.