Housing costs in New Milford?
A typical home costs
$519,400, which is 53.6% more expensive than the national average of
$338,100 and 20.2% more expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in New Milford costs
$1,790 per month, which is 25.2% more than the national average of
$1,430 and 4.5% more than the state average of
$1,710.
Can I afford New Milford?
To live comfortably in New Milford, New Jersey, a minimum annual income of
$99,360 for a family, and
$61,600 for a single person is recommended.
What does A.I. say about New Milford?
The cost of living in New Milford, NJ is relatively high compared to other towns in the area. Housing costs are quite expensive, especially for those who want to buy a home. The median home value is approximately $494,000 which is significantly higher than the national average of just over $200,000. Renting is an option but can be costly as well with monthly rents ranging from $1,800 to $2,200 depending on size and location. Transportation costs such as gas and public transportation are also more expensive than nearby towns. Groceries and other basic needs are within the national average so overall the cost of living in New Milford, NJ is quite steep when compared to other areas.