Milford, ME
Population 2,312 · Maine
About Milford, ME
Milford is a small town located in Maine with a population of 2,312 residents according to the latest US Census Bureau American Community Survey data. The median household income is $63,864 per year, which is 15% below the national median of $75,149. The median age of 42.7 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Milford features a median home value of $177,400, which is 28% below the national median of $244,900. This positions Milford in a moderately priced market relative to the rest of the country. Median monthly rent is $964, 17% below the national average of $1,163/month. Of the 1,065 total housing units, 86% are owner-occupied (856 units) and 14% are renter-occupied (144 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Milford shows an unemployment rate of 2.5%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 6.1%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Milford have an average one-way commute time of 21.6 minutes.
Education & Demographics
12.4% of Milford residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 2.9% White, 5.1% Hispanic or Latino, 1.9% Black or African American, and 0.0% Asian residents, with 3.3% of the population being foreign-born.
How Milford Ranks in Maine
Cost of Living in Milford, ME
Compared to national averages, Milford has a median household income of $63,864 (15% below the national median of $75,149). Home values average $177,400, which is 28% below the national median. Monthly rent at $964 is 17% below the US average of $1,163. Within Maine, Milford's income is 1% below the state average of $64,613, and home values are 29% below the state median of $251,113.
Why Live in Milford, ME?
Milford offers affordable housing with a median home value of $177,400, below the US average of $244,900, and rent that’s lower than the national average at $964/month, and a strong job market with an unemployment rate of just 2.5%. Additionally, the city features a low poverty rate of 6.1%, better than the national average, and short commute times averaging just 21.6 minutes.
Potential considerations include median household income ($63,864) 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 2,312 with a median age of 42.7 years. Compare Milford with other cities to see how it stacks up, or explore all cities in Maine.
Similar Cities Near Milford
Cities in Maine with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Bar Harbor | 2,311 | $72,750 | $479,600 | Compare |
| Mechanic Falls | 2,300 | $50,169 | $197,700 | Compare |
| Fairfield | 2,432 | $50,718 | $140,200 | Compare |
| Fort Kent | 2,453 | $58,750 | $137,000 | Compare |
| Farmingdale | 2,163 | $50,263 | $213,700 | Compare |
| Falmouth Foreside | 2,148 | $152,870 | $674,200 | Compare |
| Berwick | 2,085 | $64,864 | $309,600 | Compare |
| Madison | 2,552 | $43,095 | $70,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Maine
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, ME?
The population of Milford, ME is 2,312 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Maine.
What is the median household income in Milford?
The median household income in Milford, ME is $63,864 per year, which is 15% below the national median of $75,149.
What is the median home value in Milford?
The median home value in Milford, ME is $177,400, which is 28% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Milford?
The median monthly rent in Milford, ME is $964, which is 17% below the national average of $1,163/month.
What is the unemployment rate in Milford?
The unemployment rate in Milford, ME is 2.5%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Milford, ME a good place to live?
Milford offers a moderate cost of living, affordable housing, and a strong job market. With a population of 2,312 and a median age of 42.7, the city appeals to a broad range of residents.
How educated is Milford, ME?
12.4% of residents in Milford aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Milford?
Key cost-of-living indicators for Milford, ME: median home value is $177,400 (28% below national), median rent is $964/month, and median household income is $63,864. The home-value-to-income ratio is 2.8x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Milford?
The poverty rate in Milford, ME is 6.1%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Milford, ME?
Milford's population is 2.9% White, 5.1% Hispanic or Latino, 1.9% Black or African American, 0.0% Asian, and 0.0% two or more races. 3.3% of residents are foreign-born.