New Milford, New Jersey Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the New Milford, New Jersey rental market.
New Milford, New Jersey
Average Apartment Rent
$1,936
Y-o-Y Change in Average
Apartment Rent
2.3%
As of May 2026
Compared to a year ago, New Milford, New Jersey apartments have recorded a 2.3% rent increase.
New Milford, New Jersey Average apartment rent trend
New Milford, New Jersey Average Apartment Rent
New Milford, New Jersey Apartment rent ranges
At 63.4%, apartments priced $1,500 - $2,000 represent the bulk of New Milford, New Jersey rentals, while condos priced $2,500 - $3,000 hold the lowest share of the market – 2.72%.
New Milford, New Jersey Housing tenure**
Renters take up 36% of New Milford, New Jersey real estate, occupying a total of 2,250 units, while homeowners live in 3,920 properties.
Median number of rooms of renter-occupied housing units**
3.6
Renter median household income**
$75,688
Average household size of renter-occupied housing units**
2.14
Rental vacancy rate**
1.6%
New Milford, New Jersey Renter-occupied housing units by no. of bedrooms**
There are 1,119 rentals in New Milford, New Jersey with 1 bed making up the highest share of the market, at 50%. Units with 4 beds, on the other hand, hold the lowest percentage (3%), amounting to 58 units. Overall, the median number of rooms in New Milford, New Jersey homes for rent is 3.6.
New Milford, New Jersey Renter-occupied units by age of householder**
Most condos for rent in New Milford, New Jersey are occupied by residents in the 35 - 44 years age group (25%), followed by those in the 25 - 34 years age group (20%). At the same time, people in the 15 - 24 years age group make up the lowest share of the local rental market – 1%.
New Milford, New Jersey Renter-occupied housing units by family type**
New Milford, New Jersey Renter-occupied housing units by the presence of own children**
A total of 1,256 apartments for rent in New Milford, New Jersey, or 56% of all rentals are family households. Additionally, 28% of rental homes include children under the age of 18 – that’s 623 units. All in all, the median size of a renter-occupied household in New Milford, New Jersey is 2.14.
New Milford, New Jersey Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 53% of the rental market. In contrast, residents with less than a high school degree reside in 2% of the homes for rent in New Milford, New Jersey.
New Milford, New Jersey Renter-occupied units by year structure built**
The highest share of New Milford, New Jersey apartment rentals, namely 31% or 690 units, were Built 1940 - 1949, followed by those Built 1960 - 1969 (19%, 424 units), and the ones Built 1950 - 1959 (18%, 395 units).
New Milford, New Jersey Renter-occupied units by year householder moved in**
Median year renter moved into unit 2016
Most New Milford, New Jersey renters (45%) moved in 2010 to 2017, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their New Milford, New Jersey condos for rent is 2016.
New Milford, New Jersey Renter-occupied housing units by vehicles available**
When it comes to transportation options, 59% of New Milford, New Jersey renters have 1 vehicle available per household, 28% of them have 2 vehicles available, and 8% have 3 or more vehicles available.
New Milford, New Jersey Means of transportation to work of householders living in renter-occupied housing units**
New Milford, New Jersey Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all New Milford, New Jersey apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
