New Jersey · Census place 51660
New Milford borough, NJ
Quick answer
New Milford borough has 16,882 residents, ranking #70 of 700 places in New Jersey. Median household income is $113,513, the median home is worth $554,800 and median gross rent runs $1,722 a month.
- Population
- 16,882New Milford borough residents
- Median household income
- $113,513Past 12 months, inflation adjusted
- Median home value
- $554,800Owner-occupied units
- Median gross rent
- $1,722Rent plus utilities, monthly
- Median age
- 39.5 yrsAll residents
- Homeownership rate
- 62.7%Owner-occupied households
What the numbers mean in New Milford borough
Housing cost measured against local earnings.
A household earning the New Milford borough median would spend about 18.2% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 4.9× the median household income; nationally that ratio sits near 4.5×. Poverty affects 4.6% of residents and 62.7% of households own their home.
Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year
Compare with nearby places
Places of similar size in New Jersey.
- Colonia CDP 18,294
- Dumont borough 18,072
- Avenel CDP 17,143
- Madison borough 16,464
- North Arlington borough 16,368
- South River borough 16,007
- Springdale CDP 15,672
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