New Milford, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating New Milford Neighborhoods Since 2000




New Milford, NJ 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 a population of 16,801, 5,979 total housing units (homes and apartments), and a median house value of $409,113, 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 61.51% 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 ( 23.22%), large apartment complexes or high rise apartments ( 13.01%), and a few row houses and other attached homes ( 1.63%).

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 61.27% owning and 38.73% 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 72.23% of the borough's housing hails from this era. Other housing ages represented in New Milford include homes built between 1970-1999 ( 12.23%) and housing constructed before 1939 ( 11.31%). There's also some housing in New Milford built between 2000 and later ( 4.22%).

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 -1.80%, which is lower than 80% of US communities.

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 0.55%, 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 0.66%, which equates to an annual appreciation rate of 2.68%.

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

Average Home Values

 

Median Home Value:
$409,113

New Milford, NJ HOME PRICES

Value Range
> $1,050,000 1.7
$788,001 - $1,050,000 1.6
$525,001 - $788,000 13.4
$420,001 - $525,000 27.5
$315,001 - $420,000 43.6
$210,001 - $315,000 8.4
$105,001 - $210,000 1.1
$53,001 - $105,000 1.3
$0 - $53,000 1.4

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
9.05308801125044 38.0081300813008

Number Of Homes And Apartments:
5,979

New Milford Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
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
44.97% 2.18% 4 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,859 / per month

Homeownership Rate

Homeownership
Owners 61.27
Renters 38.73
Vacant 3.64

Housing Market Details

 

Age of Homes

AGE OF New Milford HOMES
2000 or Newer 4.2
1970 - 1999 12.2
1940 - 1969 72.2
1939 or Older 11.3

Types of Homes

TYPE OF New Milford HOMES
Single-Family 61.5
Townhomes 1.6
Small Apt. Buildings 23.2
Apt. Complexes 13.0
Mobile Homes 0.6
Other 0.0

Home Size

SIZE OF New Milford HOMES
No Bedroom 3.37
1 Bedroom 20.64
2 Bedrooms 19.39
3 Bedrooms 32.36
4 Bedrooms 19.89
5 or more bedrooms 4.35