New Milford, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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New Milford, NJ Real Estate Data


New Milford Housing Market Information

With a population of 16,801, 6,175 total housing units (homes and apartments), and a median house value of $441,497, real estate costs in New Milford are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.

Single-family detached homes are the single most common housing type in New Milford, accounting for 60.66% of the borough's housing units. Other types of housing that are prevalent in New Milford include duplexes, homes converted to apartments or other small apartment buildings ( 20.23%), large apartment complexes or high rise apartments ( 16.33%), and a few row houses and other attached homes ( 2.09%).

The most prevalent building size and type in New Milford are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 60.58% owning and 39.42% renting.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. New Milford's housing was primarily built during this period, from the '40s through the '60s. A full 73.69% of the borough's housing hails from this era. Other housing ages represented in New Milford include homes built before 1939 ( 12.54%) and housing constructed between 1970-1999 ( 10.58%). There's also some housing in New Milford built between 2000 and later ( 3.19%).

New Milford Home Appreciation Rates

New Milford's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in New Milford during the period has been just -1.33%, which is lower than 80% of US communities.

NeighborhoodScout's data show that during the latest twelve months, New Milford's appreciation rate, at 4.50%, has been at or slightly above the national average. In the latest quarter, New Milford's appreciation rate has been 1.43%, which annualizes to a rate of 5.85%.

Relative to New Jersey, our data show that New Milford's latest annual appreciation rate is higher than 70% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$441,497

New Milford, NJ HOME PRICES

Value Range
> $1,105,000 0.3
$829,001 - $1,105,000 1.5
$553,001 - $829,000 15.9
$442,001 - $553,000 30.3
$332,001 - $442,000 41.7
$221,001 - $332,000 8.1
$111,001 - $221,000 1.1
$55,001 - $111,000 0.4
$0 - $55,000 0.6

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
7.93464894302278 34.5528455284553

Number Of Homes And Apartments:
6,175

Rent & Ownership

 

Average Market Rent:
$1,671 / per month

Homeownership Rate

Homeownership
Owners 60.58
Renters 39.42
Vacant 2.94

Housing Market Details

 

Age of Homes

AGE OF New Milford HOMES
2000 or Newer 3.2
1970 - 1999 10.6
1940 - 1969 73.7
1939 or Older 12.5

Types of Homes

TYPE OF New Milford HOMES
Single-Family 60.7
Townhomes 2.1
Small Apt. Buildings 20.2
Apt. Complexes 16.3
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF New Milford HOMES
No Bedroom 3.65
1 Bedroom 23.15
2 Bedrooms 17.24
3 Bedrooms 31.58
4 Bedrooms 20.59
5 or more bedrooms 3.79

New Milford Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
53.24% 2.54% 5 7
* 10 is highest

Popular Neighborhoods in New Milford

Zip Codes in New Milford, NJ