Millwood, NY
Population 854 · New York
About Millwood, NY
Millwood is a small community located in New York with a population of 854 residents according to the latest US Census Bureau American Community Survey data. The median household income is $209,063 per year, which is 178% above the national median of $75,149. The median age of 48.1 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Millwood features a median home value of $769,800, which is 214% above the national median of $244,900. This places Millwood in a higher-cost housing market, where property demand often outpaces supply. Median monthly rent is $3,501, 201% above the national average of $1,163/month. Of the 363 total housing units, 85% are owner-occupied (282 units) and 15% are renter-occupied (49 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Millwood shows an unemployment rate of 0.0%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 2.6%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Millwood have an average one-way commute time of 38.3 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
86.8% of Millwood residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 0.0% White, 0.0% Hispanic or Latino, 4.1% Black or African American, and 8.2% Asian residents, with 18.6% of the population being foreign-born.
How Millwood Ranks in New York
Cost of Living in Millwood, NY
Compared to national averages, Millwood has a median household income of $209,063 (178% above the national median of $75,149). Home values average $769,800, which is 214% above the national median. Monthly rent at $3,501 is 201% above the US average of $1,163. Within New York, Millwood's income is 116% above the state average of $96,987, and home values are 99% above the state median of $387,181.
Why Live in Millwood, NY?
Millwood offers a strong local economy with a median household income of $209,063, well above the national average, and a strong job market with an unemployment rate of just 0.0%, and a well-educated community where 86.8% of residents hold a bachelor’s degree or higher. Additionally, the city features a low poverty rate of 2.6%, better than the national average.
Potential considerations include a competitive housing market where the typical home costs $769,800. However, Millwood’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Millwood has a population of 854 with a median age of 48.1 years. Compare Millwood with other cities to see how it stacks up, or explore all cities in New York.
Similar Cities Near Millwood
Cities in New York with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Quiogue | 853 | $78,661 | $1,071,400 | Compare |
| Copake Lake | 860 | $118,632 | $546,100 | Compare |
| Spencer | 848 | $50,682 | $139,200 | Compare |
| Hannawa Falls | 847 | $95,893 | $181,800 | Compare |
| Castile | 844 | $58,625 | $127,400 | Compare |
| Nassau Lake | 841 | $0 | $271,500 | Compare |
| Napanoch | 837 | $82,750 | $172,300 | Compare |
| Hancock | 876 | $50,547 | $145,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New York
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Millwood With Other Cities
Frequently Asked Questions about Millwood
What is the population of Millwood, NY?
The population of Millwood, NY is 854 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in New York.
What is the median household income in Millwood?
The median household income in Millwood, NY is $209,063 per year, which is 178% above the national median of $75,149.
What is the median home value in Millwood?
The median home value in Millwood, NY is $769,800, which is 214% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Millwood?
The median monthly rent in Millwood, NY is $3,501, which is 201% above the national average of $1,163/month.
What is the unemployment rate in Millwood?
The unemployment rate in Millwood, NY is 0.0%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Millwood, NY a good place to live?
Millwood offers above-average incomes, a competitive housing market, and a strong job market. With a population of 854 and a median age of 48.1, the city appeals to established professionals and retirees.
How educated is Millwood, NY?
86.8% of residents in Millwood aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Millwood?
Key cost-of-living indicators for Millwood, NY: median home value is $769,800 (214% above national), median rent is $3,501/month, and median household income is $209,063. The home-value-to-income ratio is 3.7x, a moderate figure by national standards.
What is the poverty rate in Millwood?
The poverty rate in Millwood, NY is 2.6%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Millwood, NY?
Millwood's population is 0.0% White, 0.0% Hispanic or Latino, 4.1% Black or African American, 8.2% Asian, and 0.0% two or more races. 18.6% of residents are foreign-born.