Living in Milford, New Jersey
Cost of living, income, home prices, rent and demographics of Milford · Census data 2020–2024
Milford has 1,166 residents with a median age of 47. The median household income is $71,806 (31% lower than the New Jersey median), the median home value is $333,600, the median rent is $1,523/month.
Milford is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Milford at a glance
- Population
- 1,166
- Median age
- 47State: 40.1
- Median household income
- $71,806State: $103,556
- Median home value
- $333,600State: $454,400
- Median rent
- $1,523/moState: $1,720
- Homeowners
- 71.8%
- Bachelor's degree or higher
- 37.2%
- Average commute
- 33 min
Is Milford a good place to live?
Pros: Home values 27% lower than the state median; unemployment of 5.8%; a poverty rate of 8.8%.
Cons: Median household income 31% lower than the New Jersey median; an average commute of 33 minutes.
The weather is best in May–June and August–September.
Cost of living in Milford
Housing is the biggest part of the cost of living. In Milford the median home value is $333,600, about the same as the U.S. median. Renters pay a median of $1,523 per month, which is 28.4% of household income. Homeowners with a mortgage pay $2,335 a month in housing costs.
Milford median household income
The median household income in Milford is $71,806 and the income per person is $43,270. 8.8% of residents live below the poverty line (New Jersey: 9.7%).
Housing in Milford: homes for sale and rent
- Housing units
- 549
- Owner-occupied
- 71.8%
- Renter-occupied
- 28.2%
- Vacant
- 8.4%Includes seasonal homes
- Median year built
- 1953
- Average household size
- 2.30
Milford demographics
- Population
- 1,166
- Median age
- 47
- Under 18
- 15.3%
- 65 and older
- 24.2%
- Households
- 503
- Foreign-born
- 5.6%
- Veterans
- 4.5%Adults 18+
Hispanic or Latino can be of any race. Population history of Milford ›
Education in Milford
37.2% of adults 25 and older in Milford have a bachelor's degree or higher (New Jersey: 43.6%), and 12.7% have a graduate or professional degree.
Jobs and commute in Milford
- Unemployment rate
- 5.8%State: 6.3%
- Average commute
- 33 minState: 31 min
- Work from home
- 21.9%
- Drive alone
- 65.2%
- Public transit
- 0%
- Walk to work
- 1.8%
- Homes with broadband
- 92%
Milford vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Milford | 1,166 | $71,806 | $333,600 | $1,523 |
| Bridgeton | 1,235 | $82,292 | $385,700 | $1,418 |
| Holland | 5,204 | $136,875 | $451,800 | $1,600 |
| Frenchtown | 1,752 | $97,917 | $383,600 | $1,761 |
| Alexandria | 4,824 | $160,354 | $552,000 | — |
| Finesville | 301 | $68,780 | $274,100 | $3,501 |
| Bloomsbury | 841 | $92,500 | $348,200 | $1,500 |
| Nockamixon | 3,368 | $104,965 | $464,100 | $1,382 |
| Riegelsville | 860 | $93,750 | $342,000 | $1,170 |
More for people moving to Milford
Milford ZIP code ›Weather and climate ›Living in Milford: FAQ
What is the median household income in Milford, NJ?
The median household income in Milford is $71,806, 31% lower than the New Jersey median of $103,556 (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 $333,600, compared with $454,400 in New Jersey.
How much is rent in Milford?
The median gross rent in Milford is $1,523 per month, about 28.4% of household income.
Is Milford, NJ a good place to live?
Pluses: home values 27% lower than the state median; unemployment of 5.8%; a poverty rate of 8.8%. Minuses: median household income 31% lower than the New Jersey median; an average commute of 33 minutes.
What is the median age in Milford?
The median age in Milford is 47 years (New Jersey: 40.1).
How long is the commute in Milford?
The average commute to work in Milford is 33 minutes; 21.9% of workers work from home.
What is the unemployment rate in Milford?
The unemployment rate in Milford is 5.8% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Milford?
37.2% 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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