Total monthly cost of ownership
Cost to Own a Home in Millville, New Jersey
A $199,000 home here costs
$1,959per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,023. The real number is $936 higher every month — 92% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Millville against Cumberland County and New Jersey
| Measure | Millville | Cumberland County |
|---|---|---|
| Median home value | $199,300 | $205,600 |
| Median property tax | $5,341 | $5,048 |
| Effective tax rate | 2.680% | 2.455% |
| Median gross rent | $1,207 | $1,254 |
| Population | 27,432 | 152,915 |
The weather behind that power bill
Millville sits in Cumberland County, which averages a high of 86.1°F in its hottest month and a low of 23.8°F in its coldest, with 43.37" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 1,050 cooling and 4,933 heating degree days, which is what sets the $209 electricity line above.
See the full climate breakdown for Cumberland County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Cumberland County
Full Cumberland County cost breakdown · Every county in New Jersey
Common questions
How much does it cost to own a home in Millville?
A $199,000 home in Millville, New Jersey costs approximately $1,959 per month with 20% down at 6.66%. That is $1,023 principal and interest, $444 property tax, $49 homeowners insurance, $277 utilities and $166 set aside for maintenance.
What is the property tax rate in Millville?
Millville has an effective property tax rate of 2.680%, based on a median home value of $199,300 and median real estate taxes of $5,341. That is higher than the Cumberland County average of 2.455%.
What is the average home price in Millville?
The median owner-occupied home value in Millville, New Jersey is $199,300, against $205,600 across Cumberland County.
Is it cheaper to rent or buy in Millville?
Median gross rent in Millville is $1,207 a month, against $1,959 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Millville — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for New Jersey.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.