New Milford, PA
Population 695 · Pennsylvania
About New Milford, PA
New Milford is a small community located in Pennsylvania with a population of 695 residents according to the latest US Census Bureau American Community Survey data. The median household income is $51,250 per year, which is 32% below the national median of $75,149. The median age of 36.8 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 $162,500, which is 34% below 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 $938, 19% below the national average of $1,163/month. Of the 354 total housing units, 51% are owner-occupied (149 units) and 49% are renter-occupied (145 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 10.2%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 22.0%, above the national average of 12.4%. Workers in New Milford have an average one-way commute time of 25.2 minutes.
Education & Demographics
11.0% 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 1.2% White, 0.7% Hispanic or Latino, 0.0% Black or African American, and 3.0% Asian residents, with 2.0% of the population being foreign-born.
Cost of Living in New Milford, PA
Compared to national averages, New Milford has a median household income of $51,250 (32% below the national median of $75,149). Home values average $162,500, which is 34% below the national median. Monthly rent at $938 is 19% below the US average of $1,163. Within Pennsylvania, New Milford's income is 30% below the state average of $73,376, and home values are 15% below the state median of $190,903.
Why Live in New Milford, PA?
New Milford offers affordable housing with a median home value of $162,500, below the US average of $244,900, and rent that’s lower than the national average at $938/month.
Potential considerations include median household income ($51,250) 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 695 with a median age of 36.8 years. Compare New Milford with other cities to see how it stacks up, or explore all cities in Pennsylvania.
Similar Cities Near New Milford
Cities in Pennsylvania with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Penn | 695 | $70,833 | $101,200 | Compare |
| Portland | 695 | $71,667 | $258,600 | Compare |
| Marion Heights | 694 | $41,250 | $88,000 | Compare |
| Millheim | 693 | $65,833 | $219,200 | Compare |
| Pleasant View | 693 | $74,000 | $115,200 | Compare |
| Pocono Pines | 693 | $108,356 | $217,400 | Compare |
| Chester Hill | 698 | $48,125 | $98,800 | Compare |
| Polk | 692 | $44,250 | $87,500 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Pennsylvania
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, PA?
The population of New Milford, PA is 695 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Pennsylvania.
What is the median household income in New Milford?
The median household income in New Milford, PA is $51,250 per year, which is 32% below the national median of $75,149.
What is the median home value in New Milford?
The median home value in New Milford, PA is $162,500, which is 34% 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, PA is $938, which is 19% below the national average of $1,163/month.
What is the unemployment rate in New Milford?
The unemployment rate in New Milford, PA is 10.2%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is New Milford, PA a good place to live?
New Milford offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 695 and a median age of 36.8, the city appeals to a broad range of residents.
How educated is New Milford, PA?
11.0% 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, PA: median home value is $162,500 (34% below national), median rent is $938/month, and median household income is $51,250. The home-value-to-income ratio is 3.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in New Milford?
The poverty rate in New Milford, PA is 22.0%, 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, PA?
New Milford's population is 1.2% White, 0.7% Hispanic or Latino, 0.0% Black or African American, 3.0% Asian, and 0.0% two or more races. 2.0% of residents are foreign-born.