Home Insurance in New Milford, New Jersey
The median home value in New Milford is $580,400, 7% lower than the Bergen County median.
The typical home in New Milford was built around 1954. About 68% of homes were built before 1960, about 18 points above Bergen County's 51%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
The housing stock in New Milford is 63% single-family homes and 11% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
About 69% of owner-occupied homes in New Milford have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
The vacancy rate is 3%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 61% of occupied homes in New Milford are owner-occupied.
In New Milford, 81% of homes are primarily heated with natural gas.
Bergen County had 10,272 active NFIP flood policies as of September 2026. Its top FEMA-rated hazard is coastal flooding (Very High). See the full Bergen County home insurance overview for all FEMA hazard ratings and flood coverage details. Flood damage is excluded from a standard homeowners policy.
In New Jersey, the statewide average premium for a standard HO-3 homeowners policy is $1,551 per year (NAIC, 2023 data).
Key figures
| Median home value | $580,400 |
|---|---|
| Median year built | 1954 |
| Owner-occupied share | 61% |
| Share of owner-occupied homes with a mortgage | 69% |
| Top county hazard | Coastal Flooding (Very High) |
| Active NFIP policies in Bergen County | 10,272 |
| Home insurance premium | $1,551 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)