New Milford, CT
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating New Milford Neighborhoods Since 2000




New Milford, CT Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

New Milford Housing Market Information

With 27,276 people, 10,494 houses or apartments, and a median cost of homes of $289,941, New Milford real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in New Milford, accounting for 74.40% of the town's housing units. Other types of housing that are prevalent in New Milford include large apartment complexes or high rise apartments ( 13.79%), duplexes, homes converted to apartments or other small apartment buildings ( 8.03%), and a few row houses and other attached homes ( 3.52%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in New Milford. Owner-occupied housing accounts for 78.18% of New Milford's homes, and 61.75% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in New Milford built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in New Milford built between 1940-1969 ( 26.06%). A lesser amount of the housing stock also hails from before 1939 ( 14.91%). There's also some housing in New Milford built between 2000 and later ( 11.44%).

New Milford Home Appreciation Rates

Homes have actually lost value in New Milford over the last then years, as home values have seen a decline of 26.59% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows New Milford home appreciation rates at -3.59%, which equates to an annual appreciation rate of -13.62%.

Over the last year, New Milford appreciation rates have trailed the rest of the nation. In the last twelve months, New Milford's appreciation rate has been -2.72%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in New Milford were at -3.59%, which equates to an annual appreciation rate of -13.62%.

Notably, New Milford's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Connecticut, our data show that New Milford's latest annual appreciation rate is lower than 80% of the other cities and towns in Connecticut.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within New Milford differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in New Milford - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best New Milford real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$289,941

New Milford, CT HOME PRICES

Value Range
> $991,000 3.1
$743,001 - $991,000 0.5
$495,001 - $743,000 7.2
$396,001 - $495,000 8.6
$297,001 - $396,000 26.8
$198,001 - $297,000 32.0
$99,001 - $198,000 15.6
$49,001 - $99,000 3.0
$0 - $49,000 3.2

Average for CT
Very High for Nation

Value Relative to Nation Value Relative to State
17.2975506855737 43.1952662721894

Number Of Homes And Apartments:
10,494

New Milford Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CT*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
20.14% 1.07% 3 2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,542 / per month

Homeownership Rate

Homeownership
Owners 78.18
Renters 21.82
Vacant 9.47

Housing Market Details

 

Age of Homes

AGE OF New Milford HOMES
2000 or Newer 11.4
1970 - 1999 47.6
1940 - 1969 26.1
1939 or Older 14.9

Types of Homes

TYPE OF New Milford HOMES
Single-Family 74.4
Townhomes 3.5
Small Apt. Buildings 8.0
Apt. Complexes 13.8
Mobile Homes 0.3
Other 0.0

Home Size

SIZE OF New Milford HOMES
No Bedroom 1.32
1 Bedroom 11.56
2 Bedrooms 22.66
3 Bedrooms 37.31
4 Bedrooms 24.44
5 or more bedrooms 2.71