New Milford, IL
Population 1,183 · Illinois
About New Milford, IL
New Milford is a small town located in Illinois with a population of 1,183 residents according to the latest US Census Bureau American Community Survey data. The median household income is $73,125 per year, which is 3% below the national median of $75,149. The median age of 33.2 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in New Milford features a median home value of $130,200, which is 47% below the national median of $244,900. This makes New Milford one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $750, 36% below the national average of $1,163/month. Of the 438 total housing units, 89% are owner-occupied (365 units) and 11% are renter-occupied (47 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in New Milford shows an unemployment rate of 7.2%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 19.7%, above the national average of 12.4%. Workers in New Milford have an average one-way commute time of 21.6 minutes.
Education & Demographics
8.5% of New Milford residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 14.6% White, 0.3% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 6.2% of the population being foreign-born.
Cost of Living in New Milford, IL
Compared to national averages, New Milford has a median household income of $73,125 (3% below the national median of $75,149). Home values average $130,200, which is 47% below the national median. Monthly rent at $750 is 36% below the US average of $1,163. Within Illinois, New Milford's income is 3% below the state average of $75,072, and home values are 21% below the state median of $165,779.
Why Live in New Milford, IL?
New Milford offers affordable housing with a median home value of $130,200, below the US average of $244,900, and rent that’s lower than the national average at $750/month, and short commute times averaging just 21.6 minutes.
Potential considerations include median household income ($73,125) that falls below the national average. However, New Milford’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
New Milford has a population of 1,183 with a median age of 33.2 years. Compare New Milford with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near New Milford
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Oreana | 1,183 | $93,194 | $129,100 | Compare |
| Marine | 1,181 | $76,304 | $165,100 | Compare |
| Dieterich | 1,171 | $73,750 | $201,200 | Compare |
| Energy | 1,171 | $70,417 | $138,500 | Compare |
| Camp Point | 1,197 | $58,438 | $111,700 | Compare |
| Milledgeville | 1,199 | $59,688 | $89,200 | Compare |
| Shawneetown | 1,167 | $51,089 | $80,400 | Compare |
| Goreville | 1,164 | $70,375 | $120,700 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
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, IL?
The population of New Milford, IL is 1,183 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Illinois.
What is the median household income in New Milford?
The median household income in New Milford, IL is $73,125 per year, which is 3% below the national median of $75,149.
What is the median home value in New Milford?
The median home value in New Milford, IL is $130,200, which is 47% below 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, IL is $750, which is 36% below the national average of $1,163/month.
What is the unemployment rate in New Milford?
The unemployment rate in New Milford, IL is 7.2%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is New Milford, IL a good place to live?
New Milford offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 1,183 and a median age of 33.2, the city appeals to young professionals and families.
How educated is New Milford, IL?
8.5% 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, IL: median home value is $130,200 (47% below national), median rent is $750/month, and median household income is $73,125. The home-value-to-income ratio is 1.8x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in New Milford?
The poverty rate in New Milford, IL is 19.7%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is New Milford, IL?
New Milford's population is 14.6% White, 0.3% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 1.1% two or more races. 6.2% of residents are foreign-born.