New Milford Illinois Area Home Supply Charts

This page looks at a variety of New Milford Illinois housing market data taken from the most recent 2020 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. New Milford depicts it has a Housing Units of 319 which is the second smallest when sorted by housing units of all the other places in the greater region.

Figure 2 illustrates the housing density in the New Milford housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) New Milford shows it has a Housing Density of 220.4 which is in the mid range of other places in the area. The city with the highest housing density in the area is Rockford which shows a density of 1049.2 (approximately 4.8 times bigger). Comparing housing density to the United States average of 38.9, New Milford is substantially bigger. Also, benchmarked against the state of Illinois, housing density of 96.4, New Milford is approximately 2.3 times bigger.

In Figure 4, New Milford area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. New Milford depicts it has a Housing Unit Change of 7.8% which is the third most housing units of all other places in the greater New Milford region. The city with the highest change in the housing units in the area is Winnebago which shows a housing units of 12.3% (58.1% larger). Comparing change in the housing units to the United States average of 5.7%, New Milford is 36.7% larger. Also, in comparison with the state of Illinois, change in the housing units of 1.2%, New Milford is very much bigger.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) New Milford shows it has a Renter Percent of 16.4% which is in the mid range of other places in the local area. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 83.6% which is in the mid range of other places in the local area.

New Milford Illinois Home Cost Charts

Looking at the housing data provided in Figure 7, the average New Milford home price is illustrated for this community and a useful analysis of affordable housing. New Milford shows it has a Median Home Value of $116,700 which is the second smallest when ranked by median home price of all the other places in the metro area. The city with the highest median home price in the area is Cherry Valley which depicts a home price of $170,100 (45.8% larger). Figure 8 provides aggregate comparative data for the New Milford Illinois metro area in terms of the median housing rental rate, apartment rent, etc. New Milford shows it has a Median Gross Rent of $689 which is the smallest in order of rental rates of all the other places in the metro area. The city with the highest rental rates in the area is Davis Junction which shows a rental rates of $996 (44.6% larger). Comparing rental rates to the United States average of $1,062, New Milford is approximately three-fourths the size. Also, measured against the state of Illinois, rental rates of $1,010, New Milford is approximately three-fourths the size.

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. New Milford has one of the largest proportions of home price worth less than $50,000 at 17% of the total and is ranked #3. Only #2 Monroe Center (33%), and #1 Rockford (41%) are larger. Second, it has the second smallest in terms of home price worth less than $50,000 of all the other places in the local area in order of home price worth between $50,000 to $100,000 at 50% of the total.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. New Milford shows it has a Median Owner Cost of $729 which is the smallest in terms of median ownership cost of all the other places in the surrounding region. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the New Milford metro area. it has a Owner Cost as % of HH Income of 18% which is the second most cost as a percent of household income of all the places in the greater New Milford region. The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. New Milford shows it has a Median Home Value as Percent of Median Earnings of 299% which is in the intermediate range of other places in the local area.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) New Milford shows it has a Median Owner Costs-With Mortgage of $1,350 which is the third most median housing cost of all other places in the greater New Milford region. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $488 which is less than most other places in the metro area.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. New Milford has the percentage of owner cost less than $300 less than most other places in the metro area at 7% of the total. Second, it has one of the largest proportions of owner cost between $300 and $500 at 20% of the total and is ranked #2. The only larger city being Cherry Valley with 21%. Third, it has the second smallest when ranked by owner cost less than $300 of all the other places in the greater region as measured by owner cost between $500 and $700 at 12% of the total. Also, it has the largest proportion of owner cost between $2,000 and $2,500 at 2% of the total and is ranked #1.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) New Milford depicts it has a % of Income Owner Costs-With Mortgage of 30% which is ranked #1 of all places in the greater New Milford region. Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. New Milford depicts it has a % of Income Owner Costs-No Mortgage of 13% which is at the top of all other places in the greater New Milford region.

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) New Milford has one of the largest proportions of rent as a percent of income is less than 10 pct at 35% of the total and is ranked #2. The only larger city being Monroe Center with 43%. Second, it has the second smallest as measured by rent as a percent of income is less than 10 pct of all the other places in the metropolitan area when ranked by rent as a percent of income is between 10pct to 20pct at 16% of the total. Third, it has one of the largest proportions of rent as a percent of income is between 40pct to 50pct at 29% of the total and is ranked #2. The only larger city being Cherry Valley with 31%.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. New Milford has the smallest proportion of housing cost between $500 and $700 at 12% of the total. Second, it has the largest proportion of housing cost between $2,000 and $2,500 at 2% of the total and is ranked #1.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $3,258 which is less than most other places in the local area. The city with the highest median real estate taxes paid in the area is Cherry Valley which depicts a taxes paid of $4,672 (43.4% larger). Comparing median real estate taxes paid to the United States average of $2,471, New Milford is 31.8% larger. Also, measured against the state of Illinois, median real estate taxes paid of $4,419, New Milford is approximately three-fourths the size.

Figure 23 shows the rental rate distribution for this area. New Milford Illinois has the largest proportion of rent less than 300 dollars at 20% of the total and is ranked #1. Second, it has one of the largest proportions of rent between 300 and 500 dollars at 35% of the total and is ranked #2. The only larger city being Cherry Valley with 47%. Third, it has the smallest proportion of rent between 500 and 750 dollars at 8% of the total. Also, it has the smallest proportion of rent between 750 and 1000 dollars at 16% of the total. In addition, it has the largest proportion of rent between 1000 and 1500 dollars at 14% of the total and is ranked #1.

New Milford Illinois Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. New Milford has the smallest proportion of both 2nd mortgage and heloc at 44% of the total. Second, it has the largest proportion of no 2nd mortgage and no heloc at 50% of the total and is ranked #1.

Figure 26 shows the proportion of houses with a mortgage versus those without a mortgage. New Milford has the largest proportion of houses with mortgages at 50% of the total and is ranked #1.

New Milford Illinois Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 3.1 which is the third most family members per housing unit of all other places in the greater New Milford region. The city with the highest family members per housing unit in the area is Davis Junction which depicts a family members per housing unit of 3.6 (15.8% larger). Comparing family members per housing unit to the United States average of 3.3, New Milford is about 7.2% smaller. Also, measured against the state of Illinois, family members per housing unit of 3.3, New Milford is about 6.9% smaller.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 5.2 which is the smallest as measured by average number of rooms in a house of all the other places in the metro area. The city with the highest average number of rooms in a house in the area is Winnebago which shows an average number of rooms in a house of 6.6 (26.9% larger). Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1995 which is the second most year built of all the places in the greater New Milford region. The city with the highest year built in the area is Davis Junction which depicts a year built of 2001 ( about the same size).

Figure 31 looks at the distribution of housing units by the median age that the homes were built. it has the largest proportion of homes built in 2014 or later at 3% of the total and is ranked #1. Second, it has one of the largest proportions of homes built between 2010 to 2013 at 35% of the total and is ranked #2. The only larger city being Davis Junction with 50%. Third, it has the smallest proportion of homes built between 1970 to 1979 at 1% of the total. Also, it has the smallest proportion of homes built between 1940 to 1949 at 2% of the total.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. has the percentage of owner housing units the second smallest in order of owner-occupied housing units of all the other places in the local area at 51 of the total.

Figure 33 shows the difference in the number of housing units based on whether they are occupied by owners or renters. it has the largest proportion of 50 or more units at 32% of the total and is ranked #1.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. it has the largest proportion of value of homes built 2014 or later at $132,100 of the total and is ranked #1. Second, it has the smallest proportion of value of homes built 2010 to 2013 at $135,100 of the total. Third, it has the second smallest when sorted by value of homes built 2014 or later of all the other places in the area as measured by value of homes built 2000 to 2009 at $126,300 of the total. Also, it has less than most other places in the surrounding region when ranked by value of homes built 1980 to 1989 at $13,300 of the total. In addition, it has in the mid range of other places in the metro area in terms of value of homes built 1960 to 1969 at $104,200 of the total.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for New Milford residents. it has a Owner-Household Size of 2.4 which is the second smallest in terms of homeowner household size of all the other places in the metro area. The city with the highest homeowner household size in the area is Davis Junction which shows a homeowner household size of 3.1 (31.1% larger).

Figure 37 shows the household size for renters. New Milford shows it has a Renter-Household Size of 1.9 which is the second smallest when sorted by renter household size of all the other places in the greater region. The city with the highest renter household size in the area is Davis Junction which depicts a renter household sizes of 3.6 (about twice as large). Figure 38 shows the year that people who own homes moved into this region. it has the largest proportion of owners moved in 2017 or later at 13% of the total and is ranked #1. Second, it has one of the largest proportions of owners moved in 2015 to 2016 at 24% of the total and is ranked #2. The only larger city being Davis Junction with 25%. Third, it has the smallest proportion of owners moved in 1990 to 1999 at 3% of the total. Figure 39 shows the year that people who rent moved into the area. New Milford has the smallest proportion of renters moved in 2017 or later at 2% of the total. Second, it has the second smallest when ranked by renters moved in 2017 or later of all the other places in the metropolitan area in terms of renters moved in 2015 to 2016 at 24% of the total. Third, it has the largest proportion of renters moved in 2010 to 2014 at 53% of the total and is ranked #1.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2007 which is the second most median year that a home owner moved in of all the places in the greater New Milford region. Figure 41 compares the median year that renters moved into their home. New Milford depicts it has a Renter Median Year Moved In of 2013 which is less than most other places in the metropolitan area.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. has the smallest proportion of home using bottled, tank, or lp gas at 3% of the total.