Commercial Real Estate Market in New Milford, CT
Updated monthly: sale, lease, property records, location trend, and more… · Last update: September 30
72 active listings and 985 off-market properties in New Milford, CT. Commercial property asks $170/SF to buy and $17.09/SF/Yr to lease.
Market Trends
New Milford, CT spans 56.2 square miles in Litchfield County, Connecticut. Figures below refresh monthly; last updated 30 September 2026.
Office
Office space in New Milford, CT asks $118/SF to buy. Vacancy runs 19.9% across the Northeast region in 2025, up from 13.1% in 2019.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Retail
Retail vacancy in New Milford, CT runs 6% across the Northeast region in 2025, little changed from 6% in 2019. Down from a 2020 peak of 7.1%.
Vacancy Rate % in Northeast region
Industrial
Industrial vacancy in New Milford, CT runs 7.6% across the Northeast region in 2025, up from 5.4% in 2019. Nearly 2.4x the 2021 low of 3.2%.
Vacancy Rate % in Northeast region
Multifamily
Multifamily space in New Milford, CT asks $140/SF to buy. Vacancy runs 5.6% across the Northeast region in 2025, up from 4% in 2022.
Average Sale Price $/SF
Listings
Vacancy Rate % in Northeast region
Market overview
Demographics & Economy
New Milford, CT has 26,848 residents in 11,120 households. Density runs 477 people per square mile. Median household income here is $102,240 and median gross rent $1,598 a month.
26,848
Population
11,120
Households
2.4
Avg Household Size
44
Median Age
41%
College-Educated
95%
High-School Grad
56.2 sq mi
ZIP Area
477
Density / Sq Mi
$102,240
Median Household Income
$50,407
Median Earnings
$1,598
Median Rent
$380,800
Median Home Value
Tools
Lease vs Buy Breakeven
At $17.09/SF/Yr lease vs $170/SF buy → buying wins if held > 1.4 years.
At a 10.1% gross asking yield the payback reads short relative to leasing. Assumes 30% down at 6.5% fixed, 2% a year in taxes and upkeep, 3% appreciation, 5% opportunity cost, 2% closing plus 5% selling costs, and a 3% annual rent escalator.
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Northville | — | $17.09 |
| Sherman | — | — |
| Roxbury | — | — |
| Washington Depot | — | — |
Commercial property in New Milford, CT asks $170/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in New Milford?
Commercial property in New Milford, CT asks an average of $170 per square foot. The 3 most recent recorded sales traded at a median of $74/SF, so asking sits 128% above the achieved median. Multifamily carries the highest asking price at $140/SF.
How much does it cost to lease commercial space in New Milford?
Asking lease rates in New Milford, CT average $17.09 per square foot per year.
Is it cheaper to lease or buy commercial space in New Milford?
Buying beats leasing in New Milford, CT if the property is held longer than 1.4 years, comparing $17.09/SF/Yr asking rent with $170/SF asking price. The model assumes 30% down at 6.5% fixed, 2% of value per year in taxes and upkeep, 3% appreciation, 5% opportunity cost on the cash and a 3% annual rent escalator.
Where does Realmo's New Milford market data come from?
Realmo compiles New Milford, CT figures from 6 recent recorded sales, 35 active sale listings, 37 active lease listings, 985 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 30 September 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 35 active for-sale and 37 active for-lease listings in New Milford, CT. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 30 September 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Northeast region level, retail vacancy is reported at Northeast region level, industrial vacancy is reported at Northeast region level and asking prices run materially above recent closed pricing.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 30 September 2026 · How Realmo checks market page data · Report a data issue
