HomeNew JerseyBergen CountyNew Milford borough
New Milford borough, New Jersey: commercial real estate data.
New Milford borough is a Census borough of 16,995 people across 2.28 square miles of land, in Bergen County. Median household income is $114,889, 61.4 percent of occupied homes are owned, and the SBA record carries 14 7(a) approvals to borrowers here worth $1.8 m.
66 sourced place values · tier FULL · 7 sections · underlined figures are computed by MMCG Analytics, not published by the agency
New Milford
What New Milford is
- Census place typeborough
- Land area2.28 sq mi
- Water area0.04 sq mi
- Population per square mile of land7,444
- County holding the largest share of its areaBergen County, 100.0 percent
US Census Bureau, cartographic boundary file, places, 2024 vintage. US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
New Milford
How many people live in New Milford
- Population16,995
- Median age39.6
- Population under 183,784
- Share under 1822.3 percent
- Population 65 and over2,876
- Share 65 and over16.9 percent
- Households6,216
- Family households4,295
- Share of households that are families69.1 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
New Milford
Income and work in New Milford
- Median household income$114,889
- Per capita income$51,401
- Civilian labor force9,275
- Employed8,680
- Unemployed595 plus or minus 233
- Unemployment rate6.4 percent plus or minus 2.5
- Adults 25 and over11,842
- Adults 25 and over with a high school diploma or higher94.8 percent
- Adults 25 and over with a bachelor degree or higher47.4 percent
- Adults 25 and over with a graduate degree15.0 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
New Milford
Housing in New Milford
- Housing units6,376
- Occupied units6,216
- Vacant units160 plus or minus 105
- Vacancy rate2.5 percent plus or minus 1.6
- Owner occupied3,814
- Renter occupied2,402
- Ownership rate61.4 percent
- Median owner-occupied home value$580,400
- Median gross rent, monthly$1,765
- Annual rent as a share of median income18.4 percent
- Single family units4,020
- Share single family63.0 percent
- Units in buildings of two or more2,346
- Share in buildings of two or more36.8 percent
- Mobile homes10 plus or minus 16
- Median year structure built1954
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
New Milford
How New Milford gets to work
- Workers 16 and over who commute6,988
- Commuting under 15 minutes1,268
- Share commuting under 15 minutes18.1 percent
- Commuting 30 minutes or more2,880
- Share commuting 30 minutes or more41.2 percent
- Drove alone61.3 percent
- Carpooled10.3 percent plus or minus 2.8
- Public transport7.5 percent plus or minus 2.4
- Walked0.5 percent plus or minus 0.5
- Worked from home16.9 percent
US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
New Milford
SBA loans in New Milford (7(a))
- Approvals14
- Gross approval$1,751,000
- Average approval$125,071
- Median approval$54,000
- Ninetieth percentile approval$250,000
- Largest approval$798,000
- Jobs supported43
- Jobs per approval3.1
- Loans with a final outcome1
- Paid in full1
- Charged off0
- Median term120 months
- Share on real estate terms of 20 years or more7.1 percent
- Share to franchises0.0 percent
- Distinct lenders4
- Distinct industries by NAICS10
A charge-off rate is not published here. only 1 resolved loans, too few to publish a rate, and a rate over that few outcomes would move several points on one loan.
US Small Business Administration, 7(a) FOIA release, FY2020 to FY2026 year to date, as of 2026-06-30.
Bergen County, not New Milford
Bergen County context, not New Milford figures
These are Bergen County figures. There is no place level equivalent published for any of them, so they are shown as the county backdrop and never as New Milford measurements.
- Establishments in Bergen County31,818
- Employment at those establishments, Bergen County441,870
- Covered employment, Bergen County438,240
- Average annual pay, Bergen County$80,639
- Average weekly wage, Bergen County$1,551
- Housing units permitted, Bergen County3,329
- Of those, single family, Bergen County1,450
- County product, 2024, Bergen County$105,804,508,000
- County product change over the prior year, Bergen County3.9 percent
- Average income of an arriving household, Bergen County$129,007
Every figure in this section is published for Bergen County as a whole and is not a measurement of New Milford. It is here because a county backdrop is what a credit committee reads a place against, and it is labelled so that it can never be quoted as the place's own.
US Census Bureau, County Business Patterns, 2023. US Bureau of Labor Statistics, Quarterly Census of Employment and Wages, 2024 annual averages. US Census Bureau, Building Permits Survey, 2024 annual. US Bureau of Economic Analysis, Regional, table CAGDP2, CAGDP2, through 2024. US Internal Revenue Service, Statistics of Income county migration flows, 2021 to 2022 filing years.
Coverage
What this page does not hold.
Every item below could be filled with a plausible figure. None of them is. On a page a lender may read, a number that cannot be traced is worse than an absence, so the absences are named.
- This place is not listed as a community in the FEMA Community Status Book, so no NFIP participation or CRS class is shown.
- Parcel level detail, zoning and flood zone at an address are resolved in the platform, not on this page.
SBA figures count approvals to borrowers whose address is in the place. They are not approvals for projects inside the place boundary: the tape records a borrower city and a project county, and those can differ.
Common questions
New Milford questions, answered from the record.
How many people live in New Milford, New Jersey?
16,995, in 6,216 households. New Milford borough covers 2.28 square miles of land, which is 7,444 people per square mile. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
What county is New Milford in?
Bergen County, which holds 100.0 percent of the place by area. Source: US Census Bureau, cartographic boundary file, places, 2024 vintage.
What is the median household income in New Milford?
$114,889. The median owner-occupied home is valued at $580,400. Median gross rent is $1,765 per month. Source: US Census Bureau, American Community Survey 5-Year Estimates, place level, 2020-2024 5-year.
How much SBA lending goes to New Milford businesses?
14 7(a) approvals totalling $1.8 m, across 4 lenders, median approval $54,000. These count approvals to borrowers whose address is in New Milford, not projects sited inside the place boundary, and they are approvals recorded in the release rather than loans disbursed.
Do SBA loans to New Milford borrowers get paid back?
No rate is published for New Milford. only 1 resolved loans, too few to publish a rate, and a percentage over that few outcomes would move several points on a single loan. The counts are shown instead.
Are the county figures on this page New Milford figures?
No, and they are labelled so. County Business Patterns, QCEW, the Building Permits Survey, BEA product and IRS migration are published for Bergen County as a whole and there is no place level equivalent. They appear in one clearly marked section as context and are never presented as measurements of New Milford.
Is zoning published for New Milford?
Not yet. The zoning layer is in build. Nothing on this page presents parcel level zoning.