New Milford is a city in New Jersey state in USA with a population of 16477 residents.. The poverty rate of New Milford is 4.9%, which is 65% lower than national average. The typical household in New Milford earns $94821 a year, compared to the national median of $67,500. Nearly 23.7% of households earn less than $50,000 a year compared to 39% national rate.

A high school education is a basic prerequisite for most jobs, and in New Milford, only 94% of adults have a high school diploma, compared to the 87.7% of adults nationwide. The unemployment rate of New Milford remained 6.4%, which is 36% higher than national rate. Nearly 1 times comparable to 4.7% national rate, according to the Census. Higher educational attainment can lead to improved job security and reduce the likelihood of financial insecurity. In New Milford, only 48% of adults have a bachelor's degree and 24% have some college but no degree.

Cost of living in New Milford is 147, which is 47% higher than national average. Median home value in New Milford is $433000 , which is 88% higher than national average. While median income in New Milford remained $94821, which is 40% higher than national average. Not only are incomes low in the town, but it also has a high cost of living, meaning a dollar does not go as far as it might elsewhere.