I was born and raised here in the Garden State. I grew up in Rahway, known mostly for its prison (which is technically across the border with Woodbridge). It’s not exactly a town with a lot of million-dollar homes. The most expensive single-family home currently listed on Zillow.com goes for $569,000 and that’s likely because it’s on the border of Clark. The average single-family home listed in Rahway is $404,907.

So when I grew up and home prices were far lower, I used to think of towns with million-dollar homes as places like Short Hills, Princeton, and a few affluent Jersey Shore towns.

With the seller’s market tearing up all the record books and home prices soaring, now we have an astonishing number of New Jersey towns where the typical home value is $1 million or more. 38 in all.

A million dollar home used to mean a mansion. In Deal, number one on the list of 38 towns, there’s currently a home for sale with only 3 bedrooms and 1,228 square feet asking $2,350,000. The typical home value in Deal is well over $3 million.

Zillow.com compiled the following list and their calculation of typical home value is a trimmed mean and acts as a trimmed median. Take a scroll through and see if your town made the list.

38 NJ towns where the typical home value is now $1 million or more

38 Manasquan $1,001,512

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37 Ocean City $1,005,775

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36 Mountain Lakes $1,008,913

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35 Woodcliff Lake $1,023 620

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34 Westfield $1,038,176

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33 Ho Ho Kus $1,051,738

Ho-Ho-Kus (Google Maps)
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32 Tenafly $1,057,993

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31 Millburn $1,060,189

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30 Colts Neck Twp $1,074,680

Marlboro, Colts Neck map (Google Maps)
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29 Chatham $1,092,171

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28 Summit $1,108,401

Summit (Google Maps)
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27 Spring Lake $1,108,947

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26 Demarest $1,109,611

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25 Montclair $1,128,507

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24 Essex Fells $1,146,272

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23 Longport $1,207,639

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22 Far Hills $1,240,410

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21 Fair Haven $1,256,942

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20 Barnegat Light $1,278,847

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19 Sea Isle City $1,326,975

Sea Isle City (Google Maps)
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18 Upper Saddle River $1,340,054

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17 Strathmere $1,341,798

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16 Franklin Lakes $1,350,888

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15 Cape May Point $1,358,248

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14 Englewood Cliffs $1,439,837

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13 Rumson $1,501,424

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12 Long Beach Township $1,522,640

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11 Lavallette $1,526,240

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10 Avon by the Sea $1,663,779

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9 New Vernon $1,821,721

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8 Sea Girt $1,874,065

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7 Short Hills $1,903,763

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6 Mantoloking $1,917,367

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5 Allenhurst $1,930,184

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4 Stone Harbor $2,268,895

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3 Avalon $2,483,060

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2 Alpine $2,729,362

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1 Deal $3,365,763

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30 neighborhoods in NJ where richest families live

These ZIP codes in New Jersey have the highest percentage of households earning more than $200,000 in annual income, meaning these are the neighborhoods were the wealthiest families are most likely to live. The figures are based on 5-year data by the U.S. Census American Community Survey as of 2021.

Gallery Credit: New Jersey 101.5

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