New Milford is a medium-sized borough located in the state of New Jersey. With a population of 16,889 people and four associated neighborhoods, New Milford is the 116th largest community in New Jersey.

Housing costs in New Milford are among some of the highest in the nation, although real estate prices here don't compare to real estate prices in the most expensive communities in New Jersey.

Also of interest is that New Milford has more people living here who work in computers and math than 95% of the places in the US.

One interesting thing about the economy is that relatively large numbers of people worked from their home: 13.96% of the workforce. While this number may seem small overall, as a fraction of the total workforce this is high compared to the rest of the county. These workers are often telecommuters who work in knowledge-based, white-collar professions. For example, Silicon Valley has large numbers of people who telecommute. Other at-home workers may be self-employed people who operate small businesses out of their homes.

New Milford is a good choice for families with children because of several factors. Many other families with children live here, making it a place where both parents and children are more likely to develop social ties with other families. The borough’s good public school district and large population of college-educated adults provide an environment conducive to academic success. Many people own their own single-family homes, providing areas for children to play and stability in the community. Finally, New Milford’s overall crime rate is lower than average for the country.

One downside of living in New Milford is that it can take a long time to commute to work. In New Milford, the average commute to work is 30.57 minutes, which is quite a bit higher than the national average. On the other hand, local public transit is widely used in the borough, so leaving the car at home and taking transit is often a viable alternative.

In New Milford, a lot of people use the bus to get to work every day though New Milford is a relatively small borough. Those that ride the bus are primarily traveling out of town to good jobs in other cities.

The citizens of New Milford are among the most well-educated in the nation: 47.97% of adults in New Milford have a bachelor's degree or even advanced degree, whereas the average US city has 21.84% holding at least a bachelor's degree.

The per capita income in New Milford in 2022 was $51,201, which is middle income relative to New Jersey, and wealthy relative to the rest of the US. This equates to an annual income of $204,804 for a family of four.

New Milford is an extremely ethnically-diverse borough. The people who call New Milford home describe themselves as belonging to a variety of racial and ethnic groups. The greatest number of New Milford residents report their race to be White, followed by Asian. New Milford also has a sizeable Hispanic population (people of Hispanic origin can be of any race). People of Hispanic or Latino origin account for 22.13% of the borough’s residents. Important ancestries of people in New Milford include Italian, Irish, German, Greek, and Polish.

In addition, New Milford has a lot of people living here who were born outside of the US (30.46%).

The most common language spoken in New Milford is English. Other important languages spoken here include Spanish and Tagalog.