Living in Milford, Iowa
Cost of living, income, home prices, rent and demographics of Milford · Census data 2020–2024
Milford has 3,311 residents with a median age of 47.3. The median household income is $63,369 (16% lower than the Iowa median), the median home value is $218,400, the median rent is $887/month.
Milford at a glance
- Population
- 3,311
- Median age
- 47.3State: 38.6
- Median household income
- $63,369State: $75,059
- Median home value
- $218,400State: $208,000
- Median rent
- $887/moState: $972
- Homeowners
- 70.1%
- Bachelor's degree or higher
- 21.8%
- Average commute
- 19 min
Is Milford a good place to live?
Pros: An average commute of 19 minutes; a poverty rate of 8.9%.
Cons: Median household income 16% lower than the Iowa median; home values 5% higher than the state median; unemployment of 4.2%.
The weather is best in June to September.
Cost of living in Milford
Housing is the biggest part of the cost of living. In Milford the median home value is $218,400, 34% lower than the U.S. median. Renters pay a median of $887 per month, which is 27.3% of household income. Homeowners with a mortgage pay $1,430 a month in housing costs.
Milford median household income
The median household income in Milford is $63,369 and the income per person is $45,250. 8.9% of residents live below the poverty line (Iowa: 11.1%).
Housing in Milford: homes for sale and rent
- Housing units
- 1,759
- Owner-occupied
- 70.1%
- Renter-occupied
- 29.9%
- Vacant
- 11.3%Includes seasonal homes
- Median year built
- 1983
- Average household size
- 2.09
Milford demographics
- Population
- 3,311
- Median age
- 47.3
- Under 18
- 22.7%
- 65 and older
- 24.2%
- Households
- 1,561
- Foreign-born
- 0.5%
- Veterans
- 6.9%Adults 18+
Hispanic or Latino can be of any race. Population history of Milford ›
Education in Milford
21.8% of adults 25 and older in Milford have a bachelor's degree or higher (Iowa: 31.4%), and 5.2% have a graduate or professional degree.
Jobs and commute in Milford
- Unemployment rate
- 4.2%State: 3.6%
- Average commute
- 19 minState: 20 min
- Work from home
- 4%
- Drive alone
- 77.5%
- Public transit
- 0%
- Walk to work
- 1.9%
- Homes with broadband
- 90%
Milford vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Milford | 3,311 | $63,369 | $218,400 | $887 |
| West Okoboji | 418 | $66,250 | $593,800 | $2,000 |
| Arnolds Park | 922 | $86,833 | $438,900 | $485 |
| Wahpeton | 443 | $107,917 | $495,500 | $850 |
| Okoboji | 969 | $73,000 | $299,300 | $942 |
| Spirit Lake | 5,518 | $65,720 | $215,100 | $911 |
| Fostoria | 181 | $81,250 | $161,800 | $769 |
| Orleans | 527 | $74,750 | $573,200 | — |
| Terril | 290 | $43,889 | $95,500 | $625 |
More for people moving to Milford
Milford ZIP code ›Weather and climate ›Living in Milford: FAQ
What is the median household income in Milford, IA?
The median household income in Milford is $63,369, 16% lower than the Iowa median of $75,059 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Milford?
The median home value in Milford is $218,400, compared with $208,000 in Iowa.
How much is rent in Milford?
The median gross rent in Milford is $887 per month, about 27.3% of household income.
Is Milford, IA a good place to live?
Pluses: an average commute of 19 minutes; a poverty rate of 8.9%. Minuses: median household income 16% lower than the Iowa median; home values 5% higher than the state median; unemployment of 4.2%.
What is the median age in Milford?
The median age in Milford is 47.3 years (Iowa: 38.6).
How long is the commute in Milford?
The average commute to work in Milford is 19 minutes; 4% of workers work from home.
What is the unemployment rate in Milford?
The unemployment rate in Milford is 4.2% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Milford?
21.8% of adults in Milford have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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