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The total population of Milltown is estimated to be 7,017 with 3,267 males (46.56%) and 3,750 females (53.44%). There are 483 more females than males in Milltown.
The median household income in Milltown was $115,063 in 2021, which marked an a decrease of 4,529(3.79%) from $119,592 in 2020. This income is 154.23% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Milltown sees its highest median household income among householders in the age group of 25 to 44 years old, at $125,533. Overall, the median household income for the borough of Milltown stands at $115,063.
In Milltown, the median income for all workers aged 15 years and older, regardless of work hours, was $58,059 for males and $50,518 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $77,969 for males and $71,342 for females.
In Milltown, there are just three different racial groups among households. Among these, Asian households report a median household income of $179,251, followed by Two or More Races households at $130,647, and White households with a median household income of $103,546.
In 2022, the population of Milltown was 6,987, a 0.16% decrease year-by-year from 2021. Previously, in 2021, Milltown's population was 6,998, a decline of 0.30% compared to a population of 7,019 in 2020.
The median age in Milltown, NJ is 41.3, as per 2021 ACS 5-Year Estimates. Of the total population, 20.30% were under the age of 15, 14.32% aged 15 to 29, 51.37% aged 30 to 64, 11.45% aged 65 to 84, and 2.55% were 85 years of age and older.
Racial distribution of Milltown population: 87.15% are White, 2.84% are Black or African American, 4.25% are Asian, 0.85% are some other race and 4.92% are multiracial.