Living in Milford, Michigan
Cost of living, income, home prices, rent and demographics of Milford · Census data 2020–2024
Milford has 6,487 residents with a median age of 41.1. The median household income is $105,713 (45% higher than the Michigan median), the median home value is $363,700, the median rent is $1,173/month.
Milford at a glance
- Population
- 6,487
- Median age
- 41.1State: 40.2
- Median household income
- $105,713State: $72,875
- Median home value
- $363,700State: $231,600
- Median rent
- $1,173/moState: $1,129
- Homeowners
- 77.1%
- Bachelor's degree or higher
- 49.6%
- Average commute
- 29 min
Is Milford a good place to live?
Pros: Median household income 45% higher than the Michigan median; unemployment of 2.1%; a poverty rate of 7.6%.
Cons: Home values 57% higher than the state median; an average commute of 29 minutes.
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 $363,700, 9% higher than the U.S. median. Renters pay a median of $1,173 per month, which is 27% of household income. Homeowners with a mortgage pay $2,072 a month in housing costs.
Milford median household income
The median household income in Milford is $105,713 and the income per person is $55,731. 7.6% of residents live below the poverty line (Michigan: 13.2%).
Housing in Milford: homes for sale and rent
- Housing units
- 2,772
- Owner-occupied
- 77.1%
- Renter-occupied
- 22.9%
- Vacant
- 5.2%Includes seasonal homes
- Median year built
- 1973
- Average household size
- 2.43
Milford demographics
- Population
- 6,487
- Median age
- 41.1
- Under 18
- 22.4%
- 65 and older
- 20.3%
- Households
- 2,627
- Foreign-born
- 2.7%
- Veterans
- 5.6%Adults 18+
Hispanic or Latino can be of any race. Population history of Milford ›
Education in Milford
49.6% of adults 25 and older in Milford have a bachelor's degree or higher (Michigan: 32.4%), and 17.3% have a graduate or professional degree.
Jobs and commute in Milford
- Unemployment rate
- 2.1%State: 5.7%
- Average commute
- 29 minState: 24 min
- Work from home
- 21%
- Drive alone
- 72.4%
- Public transit
- 0%
- Walk to work
- 0.1%
- Homes with broadband
- 91.8%
Milford vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Milford | 6,487 | $105,713 | $363,700 | $1,173 |
| Wixom | 17,295 | $65,485 | $365,200 | $1,035 |
| Wolverine Lake | 4,487 | $92,247 | $288,000 | $2,051 |
| Walled Lake | 7,299 | $72,055 | $224,200 | $1,419 |
| Hartland | 912 | $112,257 | $330,000 | — |
| South Lyon | 11,950 | $92,467 | $294,600 | $1,310 |
| Novi | 66,717 | $110,723 | $421,900 | $1,747 |
| Brighton | 7,688 | $80,682 | $339,000 | $1,198 |
| Orchard Lake Village | 2,238 | $206,667 | $737,000 | $936 |
More for people moving to Milford
Milford ZIP code ›Weather and climate ›Living in Milford: FAQ
What is the median household income in Milford, MI?
The median household income in Milford is $105,713, 45% higher than the Michigan median of $72,875 (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 $363,700, compared with $231,600 in Michigan.
How much is rent in Milford?
The median gross rent in Milford is $1,173 per month, about 27% of household income.
Is Milford, MI a good place to live?
Pluses: median household income 45% higher than the Michigan median; unemployment of 2.1%; a poverty rate of 7.6%. Minuses: home values 57% higher than the state median; an average commute of 29 minutes.
What is the median age in Milford?
The median age in Milford is 41.1 years (Michigan: 40.2).
How long is the commute in Milford?
The average commute to work in Milford is 29 minutes; 21% of workers work from home.
What is the unemployment rate in Milford?
The unemployment rate in Milford is 2.1% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Milford?
49.6% 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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