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The median household income in New Milford town was $100,764 in 2021, which marked an a decrease of 5,542(5.21%) from $106,306 in 2020. This income is 135.06% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, New Milford town sees its highest median household income among householders in the age group of 25 to 44 years old, at $110,706. Overall, the median household income for the town of New Milford town stands at $100,764.
In New Milford town, the median income for all workers aged 15 years and older, regardless of work hours, was $59,180 for males and $34,884 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $80,009 for males and $58,566 for females.
In New Milford town, the demographic landscape is diverse, spanning 4 distinct racial categories among households. Among these, Two or More Races households have the highest median household income at $116,509, while Some Other Race households represent the opposite end with the lowest median household income of $59,720.
In 2021, the population of New Milford town was 28,182, a 0.25% increase year-by-year from 2020. Previously, in 2020, New Milford town's population was 28,112, an increase of 4.86% compared to a population of 26,810 in 2019.
The median age in New Milford, Connecticut is 42.7, as per 2021 ACS 5-Year Estimates. Of the total population, 16.91% were under the age of 15, 17.98% aged 15 to 29, 49.55% aged 30 to 64, 14.15% aged 65 to 84, and 1.41% were 85 years of age and older.
The total population of New Milford town is estimated to be 28,074 with 13,203 males (47.03%) and 14,871 females (52.97%). There are 1,668 more females than males in New Milford town.
Racial distribution of New Milford town population: 86.16% are White, 2.51% are Black or African American, 0.06% are American Indian and Alaska Native, 2.94% are Asian, 3.11% are some other race and 5.21% are multiracial.