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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Montville, NJ Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Montville, NJ Housing Market Trends

With 10,024 people, 3,641 houses or apartments, and a median cost of homes of $920,514, Montville house prices are not only among the most expensive in New Jersey, Montville real estate also is some of the most expensive in all of America.

Single-family detached homes are the single most common housing type in Montville, accounting for 63.10% of the town's housing units. Other types of housing that are prevalent in Montville include row houses and other attached homes ( 27.00%), large apartment complexes or high rise apartments ( 7.32%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 2.58%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Montville. Owner-occupied housing accounts for 96.97% of Montville's homes, and 57.29% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Montville built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Montville built between 1940-1969 ( 25.02%). A lesser amount of the housing stock also hails from before 1939 ( 8.65%). There's also some housing in Montville built between 2000 and later ( 5.40%).

Montville Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Montville, where house values have increased just 48.21%, which is annualized rate of 4.01%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Montville's appreciation rate, at 7.37%, has been at or slightly above the national average. In the latest quarter, Montville's appreciation rate has been 2.82%, which annualizes to a rate of 11.77%.

Relative to New Jersey, our data show that Montville's latest annual appreciation rate is lower than 90% of the other cities and towns in New Jersey.

Average Home Values

Median Home Value

$920,514

Montville, NJ Home Prices
> $1,324,000
$993,001 - $1,324,000
$662,001 - $993,000
$529,001 - $662,000
$397,001 - $529,000
$265,001 - $397,000
$132,001 - $265,000
$66,001 - $132,000
$0 - $66,000
17.1%
17.1%
13.5%
13.5%
43.8%
43.8%
12.2%
12.2%
6.5%
6.5%
2.2%
2.2%
0.8%
0.8%
3.8%
3.8%
0.2%
0.2%
0% 100.0%
% of Homes
Very High

for New jersey

Very High

for nation

Number of Homes And Apartments:

3,641

Montville Appreciation Rates

Rent & Ownership

Average Market Rent:

$5,505 / per month

Homeownership Rate

Owners
Renters
97.0%
97.0%
3.0%
3.0%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
3.9%
3.9%
96.1%
96.1%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
5.4%
5.4%
60.9%
60.9%
25.0%
25.0%
8.6%
8.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
63.1%
63.1%
27.0%
27.0%
2.6%
2.6%
7.3%
7.3%
0.0%
0.0%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.0%
0.0%
5.2%
5.2%
21.7%
21.7%
25.7%
25.7%
31.6%
31.6%
15.8%
15.8%
0% 100.0%
% of Homes