Milford, IL
Population 1,136 · Illinois
About Milford, IL
Milford is a small community in Illinois with a population of 1,136 residents. The median household income is $45,000 per year, which is below the national average. The median age in Milford is 40.8 years.
Housing in Milford has a median home value of $65,300 and median monthly rent of $714. Of the 611 total housing units, the majority are owner-occupied, with 381 owner-occupied and 133 renter-occupied units.
The unemployment rate in Milford is 5.1% and the poverty rate is 25.0%. 18.0% of residents hold a bachelor's degree or higher. The average commute time is 23 minutes.
Cost of Living in Milford, IL
Compared to national averages, Milford has a median household income of $45,000 (40% below the national median of $75,149). Home values average $65,300, which is 73% below the national median. Monthly rent at $714 is 39% below the US average of $1,163. Within Illinois, Milford's income is 40% below the state average of $75,072, and home values are 61% below the state median of $165,779.
Why Live in Milford, IL?
Milford offers affordable housing with a median home value of $65,300, below the US average of $244,900, and rent that’s lower than the national average at $714/month, and short commute times averaging just 23 minutes.
Potential considerations include median household income ($45,000) that falls below the national average. However, Milford’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Milford has a population of 1,136 with a median age of 40.8 years. Compare Milford with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Milford
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Greenfield | 1,137 | $70,469 | $97,600 | Compare |
| Marissa | 1,133 | $48,393 | $87,000 | Compare |
| Mendon | 1,131 | $62,778 | $108,500 | Compare |
| Homer | 1,130 | $75,833 | $125,700 | Compare |
| Bannockburn | 1,125 | $195,625 | $1,110,800 | Compare |
| Forreston | 1,148 | $68,042 | $116,500 | Compare |
| Tower Lakes | 1,148 | $172,656 | $495,900 | Compare |
| Central City | 1,123 | $47,750 | $43,900 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Milford
What is the population of Milford, IL?
The population of Milford, IL is 1,136 according to the latest Census data.
What is the median household income in Milford?
The median household income in Milford, IL is $45,000 per year.
What is the median home value in Milford?
The median home value in Milford, IL is $65,300.
What is the average rent in Milford?
The median monthly rent in Milford, IL is $714.
What is the unemployment rate in Milford?
The unemployment rate in Milford, IL is 5.1%.