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City Report · CT

New Milford

Pop. 8,188·35th most expensive in Connecticut·Rental market data updated monthly for New Milford, CT
Median rent (all units)
$2,025/mo
Year-over-Year
Stable
Month-over-Month
-0.9%
vs US Median
+$60
Falling (Monthly)
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Most AffordableMost Expensive
New Milford · $2,025
More expensive than 60% of US cities · National median $1,965/mo
Affordability
29% of income
AFFORDABLE
0%30% benchmark60%+

At $2,025/mo, rent takes about 29% of the local median household income, comfortably within the 30% benchmark.

Income to afford
$81,000/yr
Local median income
$83,235/yr
Based on the 30%-of-income rule using New Milford's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,220
1 BR
$1,440
2 BR
$1,780
3 BR
$2,230
4 BR+
$2,540
Research median
$1,780/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: July 20, 2026

Annual cost
$24,300/yr
At $2,025/mo median
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (+0.0% YoY, -0.9% MoM), not inventory.
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Demographics

Who lives here

New Milford, CT is majority owner-occupied, has a large share of families with children, 34.7% of residents hold a bachelor's degree or higher.

Population
8,188
Median income
$83,235
Median age
38.6
Renters
40.3%
Age distribution
25.6%
19.6%
27.4%
15.9%
Under 1825.6%
18–3419.6%
35–5427.4%
55–6411.6%
65+15.9%
Gender
48.1%
51.9%
Male48.1%
Female51.9%
Race & ethnicity
74.4%
14.7%
White74.4%
Black3.8%
Hispanic14.7%
Asian4.3%
Other2.8%
Education (25+)
33.3%
20.9%
34.7%
No HS diploma11.1%
HS diploma33.3%
Some college20.9%
Bachelor's+34.7%
Housing tenure
59.7%
40.3%
Owner59.7%
Renter40.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How New Milford, CT has changed in 5 years

Income
$65,625 → $83,235
up 26.8%
Population
7,011 → 8,188
up 16.8%
Renter share
44.4% → 40.3%
-4.1 pts
Bachelor's+
33.9% → 34.7%
+0.8 pts
Median age
40.5 → 38.6
-1.9 yrs

Household income in the area moved from $65,625 to $83,235 across the same window, up 26.8% versus 2021. Census counts show New Milford, CT adding about 1,177 residents over the five-year window, up 16.8% on net. The renter share has eased from 44.4% to 40.3%, with owner-occupied housing accounting for the remainder.

Community

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View New Milford rent history (2015–2026) →
Salary vs rent

Can you afford rent in New Milford on your salary?

At $2,025/mo, how New Milford rent compares to typical pay (30% rule).

By apartment size

New Milford rent by bedroom count

Median rent for each apartment size in New Milford. Click any size for full breakdown.

Local insights

Tips for renters in New Milford

About renting in New Milford, CT

Last updated: July 20, 2026

The median rent in New Milford is $2,025/mo as of July 2026. A studio apartment averages $1,220/mo while a 2-bedroom runs $1,780/mo. One-bedroom apartments average $1,440/mo and 3-bedroom units go for $2,230/mo.

At 29% of local median household income ($83,235/yr), New Milford ranks as affordable compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is New Milford an affordable city for renters?

New Milford is considered affordable for renters. At $2,025/mo, rent takes approximately 29% of the local median household income ($83,235/yr). The standard benchmark is 30%. New Milford falls comfortably within that range.

How much income do you need to rent in New Milford?

To keep rent at or below 30% of gross income, you would need to earn at least $81,000/year (~$39/hour full-time) to afford the median rent of $2,025/mo in New Milford. The local median household income is $83,235/yr, meaning the typical New Milford household meets that threshold.

Is rent going up or down in New Milford?

Rent in New Milford has been relatively stable over the past year, with a 0.0% change year over year as of July 2026.

How does New Milford rent compare to other cities in Connecticut?

New Milford is middle-of-the-pack for Connecticut for rent, ranking #35 out of 56 tracked cities at $2,025/mo.

Which nearby cities are cheaper to rent in than New Milford?

Several nearby cities have lower median rents than New Milford ($2,025/mo): Torrington ($1,638/mo), Watertown ($1,898/mo).

What percentage of New Milford residents rent vs. own?

According to Census data, approximately 40.3% of New Milford households are renters, while 59.7% are owner-occupied. New Milford leans toward homeownership, which can mean a smaller rental inventory.

How does New Milford rent compare to the national average?

New Milford's median rent of $2,025/mo is $60 (3%) above the US national median of $1,965/mo. Within Connecticut, it ranks #35 out of 56 tracked cities.
Income Affordability
29%
AFFORDABLE

At $2,025/mo, rent takes ~29% of New Milford's median household income ($83,235/yr). The standard benchmark is 30%.

New Milford 29%Benchmark 30%
State income tax3–6.99%
Run the New Milford affordability calculator →
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near New Milford, CT

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