Mortgage Rates in Millville, New Jersey — March 2026
Updated March 2026 | Based on Millville market data and regional lending conditions
Millville is a growing city in New Jersey with a population of 28,400. The current 30-year fixed mortgage rate in Millville is 6.31%, which is 0.34% below the national average. With a median home price of $195,000 and a 20% down payment of $39,000, homebuyers can expect a monthly principal and interest payment of approximately $966.
Current Mortgage Rates in Millville, NJ
Below are the current average mortgage rates available in the Millville area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.31% | 6.65% | -0.34% |
| 15-Year Fixed | 5.55% | 5.89% | -0.34% |
| 5/1 ARM | 5.81% | 6.15% | -0.34% |
| FHA | 5.91% | 6.25% | -0.34% |
| VA | 5.71% | 6.05% | -0.34% |
| Jumbo | 6.51% | 6.85% | -0.34% |
Millville Housing Market Overview
The Millville housing market offers relatively affordable housing compared to many major cities. The median household income in Millville is $38,000, and the cost of living index is 96 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $56,571 to comfortably afford the median-priced home in Millville, which exceeds the current median household income.
Monthly Payment Breakdown for Millville
Based on the median home price of $195,000 with 20% down ($39,000), here is what you can expect to pay monthly in Millville:
15-Year vs. 30-Year Mortgage in Millville
Choosing a 15-year mortgage in Millville at 5.55% instead of a 30-year at 6.31% would save you $117,540 in total interest over the life of the loan. However, your monthly payment would be $1,279 instead of $966 — an increase of $313 per month.
Calculate Your Millville Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Millville
What are the current mortgage rates in Millville, NJ?
As of March 2026, the average 30-year fixed mortgage rate in Millville, New Jersey is 6.31%, while the 15-year fixed rate is 5.55%. FHA loans average 5.91% and VA loans 5.71%. These rates are 0.34% below the national average of 6.65%.
How much is a monthly mortgage payment in Millville?
Based on the median home price of $195,000 with 20% down, the estimated monthly mortgage payment in Millville is $966 for principal and interest. Including property taxes of $354/month, the total monthly housing cost is approximately $1,320.
What income do I need to buy a home in Millville?
Using the 28% rule, you would need an annual income of approximately $56,571 to afford the median-priced home in Millville at $195,000. The median household income in Millville is $38,000. This means most households would need to either earn above the median or consider homes below $195,000.
Is Millville a good place to buy a home in 2026?
Millville offers a below-average cost of living with a cost of living index of 96 (national average = 100). The property tax rate in New Jersey is 2.18%, which is above the national average. Millville has a population of 28,400 and offers a balanced lifestyle.
Mortgage Rates in Other New Jersey Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Millville, New Jersey area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.