Housing costs in New Milford?
A typical home costs
$511,800, which is 51.4% more expensive than the national average of
$338,100 and 18.4% more expensive than the average New Jersey home, at
$432,100. Renting a two-bedroom unit in New Milford costs
$1,780 per month, which is 4.1% more than the national average of
$1,710 and 21.9% cheaper than the state average of
$2,170.
Can I afford New Milford?
To live comfortably in New Milford (zip 07646), New Jersey, a minimum annual income of
$97,920 for a family, and
$61,200 for a single person is recommended.
What does A.I. say about New Milford?
The cost of living in 07646 New Milford, NJ is quite high. Due to the area’s close proximity to New York City and its desirable location in an affluent suburban community, housing costs are much higher than the national average. The median home value is around $450,000, significantly higher than the U.S. median of about $200,000. Groceries and transportation are also more expensive compared to other areas. While residents of 07646 New Milford enjoy a higher quality of living due its safe neighborhoods and many amenities, this comes at a high cost that must be taken into account when budgeting for living expenses.