PA 492 begins at an intersection with US 11 (Main Street) in the borough of New Milford.

PA 492 heads eastward as Jackson Street, passing several residences and a local ball field before turning southeastward off of Jackson Street into Exit 223 of Interstate 81.

After the interchange, PA 492 turns southeastward again, paralleling the interstate through fields and residences before intersecting with State Route 1012 (SR 1012, East Lake Road) in New Milford.

[2] After the intersection with TR 627, PA 492 makes a gradual curve and enters the hamlet of Lakeside.

In Lakeside, the highway passes several residences and to the south of Page Lake.