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Population & People
Population
16,888
Median age
39.6
Median household income
$114,889
Poverty rate
4.2%
Unemployment rate
6.4%
Bachelor's degree+
47.4%
Avg. commute
24 min
Hispanic or Latino
20.5%
Source: U.S. Census Bureau, American Community Survey.
Housing & Rent
Median home value
$580,400
Median gross rent
$1,765/mo
Homeownership rate
61.36%
HUD FMR — 2 bedroom
$2,132
HUD Fair Market Rent (New Jersey statewide average across 21 areas — not specific to New Milford), 2026. Efficiency $1599, 1BR $1759, 2BR $2132, 3BR $2658, 4BR $3005. This is a different official figure from Census median gross rent above.
Energy
New Jersey commercial electricity
16.63¢/kWh
New Jersey industrial electricity
13.9¢/kWh
New Jersey residential electricity
22.63¢/kWh
Economy
Gross Domestic Product: All Industry Total
887174.6
Real Gross Domestic Product: All Industry Total
688124
All-Transactions House Price Index for New Jersey
967.6
Unemployment Rate
4.4%
Source: FRED, New Jersey-specific series.