Cost of Living in Milford, DE
Cost of Living in Milford, DE has an overall index of 94, 6% below the U.S. baseline of 100. The typical home value is $274,600; typical monthly rent is $1,182; and median household income is $55,265.
Cost index: committed city housing/rent inputs and BEA 2024 metro-area price parities. Home value: Census ACS 2023 fallback place estimate. Rent: Census ACS 2023 fallback place estimate. A place-level signal, not a personal affordability decision or financial recommendation.
Rent and home prices are comparatively balanced with local income. This describes the local market, not your household.
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Frequently asked questions about Milford
Living in Milford
Is Milford, DE an affordable place to live?+
Yes — everyday expenses in Milford run about 6% below the US average (Cost Index: 94). Housing is especially affordable: the median home is valued around $274,600, compared to the $303,400 national median. Monthly rent is $1,182, versus $1,348 nationally.
How does Milford fit a household housing budget?+
Start with housing. Typical monthly rent is $1,182, while local median household income is $55,265. That implies a rent-burden proxy of about 26% before utilities and other costs. Use that as a planning signal for whether the place looks manageable under your own household assumptions.
How much are taxes in Milford, DE?+
Delaware uses an approximate state-income-tax planning model; 6.6% is top marginal-rate context from the tax snapshot. Applying the 0.57% state-level effective owner-occupied proxy to a home worth $274,600 gives a planning estimate near $1,565 per year; it is not a city, county, parcel, or individual tax bill. The snapshot reports no state sales tax.
How much does it cost to rent in Milford, DE?+
The typical monthly rent in Milford is around $1,182. That's roughly 12% lower than the $1,348 national median. For comparison, the median home value here is $274,600, so buyers should also factor in mortgage payments, property taxes, and insurance.
How much does a house cost in Milford, DE?+
The typical home value in Milford is $274,600. With 20% down and the committed 6.11% national 30-year fixed benchmark as of 2026-03-12, principal and interest are roughly $1,333/month before property tax and insurance. This is a planning estimate, not a local lender quote. About 46% of residents here own their homes.
Are groceries and utilities expensive in Milford?+
Grocery prices in Milford are about average compared to the rest of the US (index: 96, where 100 is the national average). Utility bills (electricity, gas, water) are about typical (index: 97). Overall, these everyday costs shouldn't cause major surprises if you're moving from another similarly-sized US city.
What is Milford, DE like to live in?+
Milford is a small town with a population of about 12,193. The median age of residents is 41.4, which is close to the national median. The local poverty rate is 20.34%, above the national average of 12.4%.