New Milford, CT
Population 7,632 · Connecticut
About New Milford, CT
New Milford is a small town located in Connecticut with a population of 7,632 residents according to the latest US Census Bureau American Community Survey data. The median household income is $81,170 per year, which is 8% above the national median of $75,149. The median age of 39.5 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in New Milford features a median home value of $326,200, which is 33% above the national median of $244,900. This positions New Milford in a moderately priced market relative to the rest of the country. Median monthly rent is $1,422, 22% above the national average of $1,163/month. Of the 3,080 total housing units, 61% are owner-occupied (1,701 units) and 39% are renter-occupied (1,107 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in New Milford shows an unemployment rate of 6.2%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 8.3%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in New Milford have an average one-way commute time of 26.1 minutes.
Education & Demographics
32.8% of New Milford residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This is in line with national trends in educational attainment. The community's demographic composition includes 0.4% White, 2.0% Hispanic or Latino, 2.8% Black or African American, and 11.6% Asian residents, with 15.4% of the population being foreign-born.
How New Milford Ranks in Connecticut
Cost of Living in New Milford, CT
Compared to national averages, New Milford has a median household income of $81,170 (8% above the national median of $75,149). Home values average $326,200, which is 33% above the national median. Monthly rent at $1,422 is 22% above the US average of $1,163. Within Connecticut, New Milford's income is 34% below the state average of $123,065, and home values are 37% below the state median of $516,920.
Why Live in New Milford, CT?
New Milford offers a strong local economy with a median household income of $81,170, well above the national average, and a low poverty rate of 8.3%, better than the national average.
New Milford has a population of 7,632 with a median age of 39.5 years. Compare New Milford with other cities to see how it stacks up, or explore all cities in Connecticut.
Similar Cities Near New Milford
Cities in Connecticut with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Thompsonville | 7,473 | $71,714 | $235,200 | Compare |
| Glastonbury Center | 7,860 | $133,450 | $367,000 | Compare |
| Cos Cob | 7,354 | $176,602 | $1,149,500 | Compare |
| Putnam | 7,120 | $63,209 | $236,000 | Compare |
| Southwood Acres | 8,154 | $105,529 | $247,400 | Compare |
| Ridgefield | 7,103 | $143,286 | $843,200 | Compare |
| Winsted | 7,074 | $66,058 | $214,000 | Compare |
| New Canaan | 7,032 | $163,355 | $1,115,600 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Connecticut
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare New Milford With Other Cities
Frequently Asked Questions about New Milford
What is the population of New Milford, CT?
The population of New Milford, CT is 7,632 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Connecticut.
What is the median household income in New Milford?
The median household income in New Milford, CT is $81,170 per year, which is 8% above the national median of $75,149.
What is the median home value in New Milford?
The median home value in New Milford, CT is $326,200, which is 33% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in New Milford?
The median monthly rent in New Milford, CT is $1,422, which is 22% above the national average of $1,163/month.
What is the unemployment rate in New Milford?
The unemployment rate in New Milford, CT is 6.2%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is New Milford, CT a good place to live?
New Milford offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 7,632 and a median age of 39.5, the city appeals to a broad range of residents.
How educated is New Milford, CT?
32.8% of residents in New Milford aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in New Milford?
Key cost-of-living indicators for New Milford, CT: median home value is $326,200 (33% above national), median rent is $1,422/month, and median household income is $81,170. The home-value-to-income ratio is 4.0x, a moderate figure by national standards.
What is the poverty rate in New Milford?
The poverty rate in New Milford, CT is 8.3%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is New Milford, CT?
New Milford's population is 0.4% White, 2.0% Hispanic or Latino, 2.8% Black or African American, 11.6% Asian, and 2.9% two or more races. 15.4% of residents are foreign-born.