Home Price Key
Affordable
Average
Expensive
These days, finding an affordable place to live in the New Milford area can be challenging. Home prices in New Milford are now at a median cost of $422,556, higher than the New Jersey average of $388,929.
The average cost of rent is $1,812/mo in New Milford, primarily driven by the current value of real estate in the New Milford area. While nearly 37.53% of residents own their homes outright in New Milford, 25.68% rent.
Housing affordability isn’t just about home prices, though. The average household income in New Milford is $10,533 per month. Households that rent pay about 17.20% of their income on rent here. New Milford's most expensive areas are in the northern regions, while the cheapest areas are in the northwestern parts of the city.
Nearby Cities
- River Edge, NJ: higher priced homes
- Bergenfield, NJ: equally priced homes
- Dumont, NJ: equally priced homes
- Oradell, NJ: higher priced homes
- Haworth, NJ: higher priced homes
- Tenafly, NJ: higher priced homes
- Cresskill, NJ: higher priced homes
- Teaneck, NJ: higher priced homes
- Paramus, NJ: higher priced homes
- Emerson, NJ: higher priced homes
Cities with Similar Populations
- Sauk Rapids, MN: less expensive homes
- Farmington, CT: less expensive homes
- Farmingville, NY: less expensive homes
- Ferndale, MD: less expensive homes
- Five Forks, SC: less expensive homes
- Fort Atkinson, WI: less expensive homes
- Rio Linda, CA: less expensive homes
- Riverside, RI: less expensive homes
- Riverton, WY: less expensive homes
- Roma, TX: less expensive homes
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