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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
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%).
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.
|$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|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF New Milford HOMES|
|2000 or Newer||11.4|
|1970 - 1999||47.6|
|1940 - 1969||26.1|
|1939 or Older||14.9|
|TYPE OF New Milford HOMES|
|Small Apt. Buildings||8.0|
|SIZE OF New Milford HOMES|
|5 or more bedrooms||2.71|