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These days, finding an affordable place to live in the Milford area can be challenging. Home prices in Milford are now at a median cost of $391,482, higher than the Michigan average of $250,415.
The average cost of rent is $1,448/mo in Milford, primarily driven by the current value of real estate in the Milford area. In Milford, 12.77% of households rent, and 37.53% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Milford is $10,394 per month. Households that rent pay about 13.93% of their income on rent here. Milford’s most expensive areas are in the southwestern regions, while the cheapest areas are in the southeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- New Hudson, MI: higher priced homes
- Highland, MI: less expensive homes
- Wixom, MI: less expensive homes
- Commerce Township, MI: equally priced homes
- Hartland, MI: less expensive homes
- Wolverine Lake, MI: less expensive homes
- Walled Lake, MI: less expensive homes
- White Lake, MI: less expensive homes
- South Lyon, MI: higher priced homes
- Brighton, MI: equally priced homes
Cities with Similar Populations
- Ottawa, IL: less expensive homes
- Petal, MS: less expensive homes
- Perry, GA: less expensive homes
- Pendleton, OR: less expensive homes
- Parma Heights, OH: less expensive homes
- Park Forest, IL: less expensive homes
- Palmyra, PA: less expensive homes
- Oxon Hill, MD: equally priced homes
- Owens Cross Roads, AL: higher priced homes
- Pinole, CA: higher priced homes
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