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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 28,275 people, 10,775 houses or apartments, and a median cost of homes of $534,532, New Milford real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in New Milford, accounting for 74.87% of the town's housing units. Other types of housing that are prevalent in New Milford include large apartment complexes or high rise apartments ( 11.36%), duplexes, homes converted to apartments or other small apartment buildings ( 8.15%), and a few row houses and other attached homes ( 4.63%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in New Milford. Owner-occupied housing accounts for 80.37% of New Milford's homes, and 66.51% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in New Milford built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in New Milford built between 1940-1969 ( 27.66%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.18%). There's also some housing in New Milford built before 1939 ( 13.36%).
Real estate appreciation rates in New Milford's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 5.96% during the period.
Appreciation rates are so strong in New Milford that despite a nationwide downturn in the housing market, New Milford real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, New Milford appreciation rates continue to be some of the highest in America, at 8.19%, which is higher than appreciation rates in 72.18% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in New Milford. New Milford appreciation rates in the latest quarter were at -0.51%, which equates to an annual appreciation rate of -2.02%.
Notably, New Milford's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Connecticut, our data show that New Milford's latest annual appreciation rate is lower than 50% of the other cities and towns in Connecticut.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within New Milford differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in New Milford - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best New Milford real estate investment or home purchase decisions.
$534,532
for Connecticut
for nation
10,775
$2,322 / per month