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New Milford

Learn about the people, housing, costs and businesses in New Milford, Pennsylvania

Median Home$216,300
Median Rent$1,040/month
Population781
Leading IndustriesProfessional Services · Arts, Food & Hospitality · Healthcare3% professional services
Home Value Growth+5.9% over 2 years
Young Adults33% of residentswell above average
Homeowners79% of occupied units
NotableHighly Educated25% bachelor's · 12% graduate · top 18% nationally
NotableTransit79/100 · excellent transit access
New Milford
PA

Frequently Asked Questions

What are today's mortgage rates in New Milford?

As of today, the 30-year fixed mortgage rate for New Milford is approximately 6.967% (7.006% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in New Milford?

The median home value in New Milford is $216k. The median monthly rent is $1,040. Annual property taxes average $2k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in New Milford?

Home values in New Milford have increased 5.9% over the past two years. This represents moderate growth. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in New Milford?

Based on a typical all-in ownership cost of $883/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $38k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in New Milford is $72k/year.

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What industries drive the economy in New Milford?

The largest employment sectors in New Milford are public administration (26%) and healthcare (13%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.