Milford, IN
Population 1,955 · Indiana
About Milford, IN
Milford is a small community in Indiana with a population of 1,955 residents. The median household income is $52,014 per year, which is near the national average. The median age in Milford is 37.2 years.
Housing in Milford has a median home value of $135,300 and median monthly rent of $1,038. Of the 771 total housing units, the majority are owner-occupied, with 617 owner-occupied and 140 renter-occupied units.
The unemployment rate in Milford is 0.8% and the poverty rate is 4.8%. 7.0% of residents hold a bachelor's degree or higher. The average commute time is 25.2 minutes.
How Milford Ranks in Indiana
Cost of Living in Milford, IN
Compared to national averages, Milford has a median household income of $52,014 (31% below the national median of $75,149). Home values average $135,300, which is 45% below the national median. Monthly rent at $1,038 is 11% below the US average of $1,163. Within Indiana, Milford's income is 25% below the state average of $69,330, and home values are 17% below the state median of $163,409.
Why Live in Milford, IN?
Milford offers affordable housing with a median home value of $135,300, below the US average of $244,900, and rent that’s lower than the national average at $1,038/month, and a strong job market with an unemployment rate of just 0.8%. Additionally, the city features a low poverty rate of 4.8%, better than the national average.
Potential considerations include median household income ($52,014) 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 1,955 with a median age of 37.2 years. Compare Milford with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Milford
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Liberty | 1,958 | $46,801 | $122,000 | Compare |
| Salt Creek Commons | 1,973 | $84,648 | $181,100 | Compare |
| Trail Creek | 1,983 | $65,929 | $177,600 | Compare |
| Hope | 1,988 | $68,015 | $127,200 | Compare |
| Battle Ground | 1,989 | $104,583 | $268,300 | Compare |
| Williamsport | 1,921 | $56,875 | $132,500 | Compare |
| Greentown | 2,005 | $57,917 | $116,500 | Compare |
| Bristol | 1,903 | $81,656 | $202,900 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Milford With Other Cities
Frequently Asked Questions about Milford
What is the population of Milford, IN?
The population of Milford, IN is 1,955 according to the latest Census data.
What is the median household income in Milford?
The median household income in Milford, IN is $52,014 per year.
What is the median home value in Milford?
The median home value in Milford, IN is $135,300.
What is the average rent in Milford?
The median monthly rent in Milford, IN is $1,038.
What is the unemployment rate in Milford?
The unemployment rate in Milford, IN is 0.8%.