New Milford, NJ
Population 16,882 · New Jersey
About New Milford, NJ
New Milford is a mid-sized city in New Jersey with a population of 16,882 residents. The median household income is $113,513 per year, which is above the national average. The median age in New Milford is 39.5 years.
Housing in New Milford has a median home value of $554,800 and median monthly rent of $1,722. Of the 6,428 total housing units, the majority are owner-occupied, with 3,860 owner-occupied and 2,297 renter-occupied units.
The unemployment rate in New Milford is 6.4% and the poverty rate is 4.6%. 48.0% of residents hold a bachelor's degree or higher. The average commute time is 29.7 minutes.
Cost of Living in New Milford, NJ
Compared to national averages, New Milford has a median household income of $113,513 (51% above the national median of $75,149). Home values average $554,800, which is 127% above the national median. Monthly rent at $1,722 is 48% above the US average of $1,163. Within New Jersey, New Milford's income is 2% below the state average of $115,667, and home values are 18% above the state median of $469,644.
Why Live in New Milford, NJ?
New Milford offers a strong local economy with a median household income of $113,513, well above the national average, and a well-educated community where 48.0% of residents hold a bachelor’s degree or higher, and a low poverty rate of 4.6%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $554,800. However, New Milford’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
New Milford has a population of 16,882 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 New Jersey.
Similar Cities Near New Milford
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Avenel | 17,143 | $95,935 | $351,200 | Compare |
| Madison | 16,464 | $168,469 | $882,900 | Compare |
| North Arlington | 16,368 | $101,493 | $464,700 | Compare |
| South River | 16,007 | $101,853 | $382,500 | Compare |
| Dumont | 18,072 | $125,585 | $469,900 | Compare |
| Springdale | 15,672 | $179,531 | $454,200 | Compare |
| Colonia | 18,294 | $134,301 | $473,200 | Compare |
| Princeton Meadows | 15,382 | $124,065 | $636,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Jersey
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about New Milford
What is the population of New Milford, NJ?
The population of New Milford, NJ is 16,882 according to the latest Census data.
What is the median household income in New Milford?
The median household income in New Milford, NJ is $113,513 per year.
What is the median home value in New Milford?
The median home value in New Milford, NJ is $554,800.
What is the average rent in New Milford?
The median monthly rent in New Milford, NJ is $1,722.
What is the unemployment rate in New Milford?
The unemployment rate in New Milford, NJ is 6.4%.