New Milford is a medium-sized borough located in the state of New Jersey. With a population of 16,875 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.

Of important note, New Milford is also a borough of artists. New Milford has more artists, designers and people working in media than 90% of the communities in America. This concentration of artists helps shape New Milford’s character.

One interesting thing about the economy is that relatively large numbers of people worked from their home: 11.34% 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.

Because of many things, New Milford is a great place for families with children to consider. First of all, many other families with children live here, making New Milford a place where both parents and children are more likely to develop social ties with other families, as well as find family-oriented services and community. The borough’s good public school district and large population of college-educated adults provide an environment conducive to academic values. With regard to real estate, New Milford has a high rate of owner-occupied single family homes, which tends to reflect stability in the local community. Finally, New Milford’s overall crime rate ranks among the lowest in the country, making it one of the safest places to raise a family.

Even though New Milford is a smaller borough, it has many people who hop on public transportation – mostly the bus for their daily commute to work. Typically, these people are commuting to good jobs in the surrounding cities.

The education level of New Milford ranks among the highest in the nation. Of the 25-and-older adult population in New Milford, 48.73% have at least a bachelor's degree. The typical US community has just 21.84% of its adults holding a bachelor's degree or graduate degree.

The per capita income in New Milford in 2022 was $51,889, which is middle income relative to New Jersey, and wealthy relative to the rest of the US. This equates to an annual income of $207,556 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 19.66% of the borough’s residents. Important ancestries of people in New Milford include Irish, Italian, German, Polish, and Greek.

Foreign born people are also an important part of New Milford's cultural character, accounting for 30.27% of the borough’s population.

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