New Milford's housing reflects its age and density. The borough is largely built out with single-family homes of older vintage, many reflecting the early-to-mid twentieth-century suburban development of Bergen County, along with some multifamily housing near the commercial corridors and the river. Lots are typically compact, and the housing stock is established rather than newly expanding. This gives the borough a settled, traditional suburban character, with buyers drawn by the historic setting, the schools, and the short commute toward New York City and the rest of Bergen County.

New Milford is a compact borough whose neighborhoods blend into one another rather than forming sharply defined districts. Residential streets radiate from the borough's main corridors, with homes concentrated between the Hackensack River and the town's commercial roads. The riverfront and its adjacent streets carry much of the borough's historical character, reflecting the area's Dutch colonial settlement. Nearby Hackensack provides a larger downtown and regional services, while the borough itself remains a quieter, primarily residential community.

Life in New Milford is that of an established Bergen County borough. Residents enjoy a walkable, neighborhood-oriented setting with local parks, schools, and shops close at hand, while the broader amenities of Hackensack and the county are minutes away. The borough's colonial history gives it a distinctive sense of place, and community events and schools anchor local life. Its proximity to New York City means many residents balance suburban daily routines with commutes across the Hudson, enjoying a smaller-town home base within the metropolitan area.

New Milford is served by the New Milford Public School District, a K-12 district centered on New Milford High School. The district educates the borough's students from the elementary grades through high school, and its schools function as key community institutions. Families also have access to the region's extensive private, parochial, and specialized public options across Bergen County. The borough's compact size means schools and recreation are closely tied to the surrounding neighborhoods.

New Milford's location in central Bergen County places it within reach of major highways and the region's commuting network. The borough sits just north of Hackensack and within a short drive of routes leading toward the George Washington Bridge and New York City, making it practical for commuters. NJ Transit bus and rail connections are available in the surrounding communities, and the broader Bergen County road network ties the borough to employment centers throughout northern New Jersey.

New Milford's recreation centers on its local parks, playgrounds, and athletic fields, along with the Hackensack River corridor. The borough's parks serve neighborhood sports and gatherings, while the river adds a natural edge to the community. Nearby county parks, the riverfront walkways in adjacent communities, and the larger open spaces of Bergen County extend outdoor options beyond the borough's borders. Proximity to New York City also places regional attractions and cultural venues within reach.