New Milford, CT—06776
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in New Milford, CT
Home Price Trends — New Milford, CT
As of Oct '25, the median home price in New Milford, CT is $448,000, with a year-over-year change of 1.5%. This indicates that home prices in New Milford, CT are increasing. According to Zillow, the 1-year price projection is 3.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $448,000 | 1.5% |
| Single Family | $493,000 | 1.0% |
| Condos | $246,000 | 4.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $193,000 | 2.1% |
2 Bed | $309,000 | 2.3% |
3 Bed | $447,000 | 0.7% |
4 Bed | $598,000 | 1.2% |
| 5 Bed | $705,000 | 0.9% |
% of Housing Stock
Rental Trends — New Milford, CT
As of July '25, Rentcast reports the average rent in New Milford, CT is $2,810, with a year-over-year rent change of -11.6%. Per bedroom, the median rent as of July '25 in New Milford, CT is studios: $1,250, 1-bedrooms: $1,600, 2-bedrooms: $2,560, 3-bedrooms: $3,780, 4-bedrooms: $5,350. The most common rental property sizes in New Milford, CT are 1-bedroom and 3-bedroom, accounting for 33.4% and 29.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,300 | $2,810 |
| Studio Rent | $1,250 | $1,250 |
| 1 Bed Rent | $1,600 | $1,600 |
| 2 Bed Rent | $2,300 | $2,560 |
| 3 Bed Rent | $3,280 | $3,780 |
| 4 Bed Rent | $4,000 | $5,350 |
% of Rental Stock
Property Listings — New Milford, CT
As of Oct '25, Realtor.com reports that the median days on market for a home in New Milford, CT is 40. This is a increase of 19.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 16.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $577,000 | -1.0% |
Listing Count | 101 | 7.0% |
| Listings as % of Homes | 0.7% | 7.0% |
Days on Market | 40 | 19.0% |
Demographics — New Milford, CT
As of the latest ACS Survey released in 2023, New Milford, CT has a population of 27,100, which has increased by 4.2% over the past 5 years. New Milford, CT is a moderately popular place for families, as children make up 22.5% of the population. The area has a moderately educated workforce, with 40.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 27,100 | 4.2% |
% Under 18 | 22.5% | 17.8% |
% Seniors | 16.1% | 3.9% |
% WFH | 11.5% | 98.3% |
% w/ College Degree | 40.5% | 0.2% |
As of the latest ACS Survey released in 2023, New Milford, CT is a predominantly white area, with 77.1% of the population identifying as white. The white population has shrunk by 10.1% in the last 5 years. The second most common race or ethnicity in New Milford, CT is hispanic, making up 11.9% of the population. Foreign-born residents account for 12.4% of the population in New Milford, CT, and this percentage has increased by 18.1% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 77.1% | -10.1% |
% Black | 3.9% | 254.5% |
% Hispanic | 11.9% | 45.1% |
% Asian | 3.8% | 18.8% |
% Foreign Born | 12.4% | 18.1% |
Mortgage and Risk — New Milford, CT
According to HUD data as of 2023, there were 466 mortgage originations in New Milford, CT, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in New Milford, CT. Investor activity is low, as 2.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 466 |
% Conventional Loans | 89.0% |
% Government Loans | 11.0% |
% Investor Loans | 2.0% |
% Second Loans | 3.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — New Milford, CT
New Milford, CT lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 136 |
Total Units Section 8 | 85 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 89.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$160 | $1,600 | $1,440 |
| 2 Bedroom | -$520 | $2,300 | $1,780 |
| 3 Bedroom | -$1,050 | $3,280 | $2,230 |
| 4 Bedroom | -$1,460 | $4,000 | $2,540 |
Affordability — New Milford, CT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $448,000 |
| Median Household Income | $102,000 |