Milford, MI
Population 6,467 · Michigan
About Milford, MI
Milford is a small town located in Michigan with a population of 6,467 residents according to the latest US Census Bureau American Community Survey data. The median household income is $102,521 per year, which is 36% above the national median of $75,149. The median age of 42.1 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 $348,600, which is 42% above 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 $1,058, 9% below the national average of $1,163/month. Of the 2,767 total housing units, 75% are owner-occupied (2,017 units) and 25% are renter-occupied (657 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Milford shows an unemployment rate of 2.7%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 8.6%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Milford have an average one-way commute time of 29.3 minutes.
Education & Demographics
49.2% of Milford residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 2.2% White, 2.2% Hispanic or Latino, 0.3% Black or African American, and 0.6% Asian residents, with 3.4% of the population being foreign-born.
Cost of Living in Milford, MI
Compared to national averages, Milford has a median household income of $102,521 (36% above the national median of $75,149). Home values average $348,600, which is 42% above the national median. Monthly rent at $1,058 is 9% below the US average of $1,163. Within Michigan, Milford's income is 55% above the state average of $66,017, and home values are 90% above the state median of $183,391.
Why Live in Milford, MI?
Milford offers a strong local economy with a median household income of $102,521, well above the national average, and rent that’s lower than the national average at $1,058/month, and a strong job market with an unemployment rate of just 2.7%. Additionally, the city features a well-educated community where 49.2% of residents hold a bachelor’s degree or higher, and a low poverty rate of 8.6%, better than the national average.
Milford has a population of 6,467 with a median age of 42.1 years. Compare Milford with other cities to see how it stacks up, or explore all cities in Michigan.
Similar Cities Near Milford
Cities in Michigan with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| New Haven | 6,341 | $68,203 | $207,600 | Compare |
| Huntington Woods | 6,322 | $188,229 | $470,600 | Compare |
| Manistee | 6,275 | $59,315 | $144,400 | Compare |
| Eastwood | 6,704 | $50,054 | $133,800 | Compare |
| Ishpeming | 6,173 | $52,717 | $109,200 | Compare |
| Lake Fenton | 6,168 | $112,676 | $372,800 | Compare |
| South Monroe | 6,771 | $59,674 | $176,900 | Compare |
| Rockford | 6,162 | $100,156 | $294,800 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Michigan
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, MI?
The population of Milford, MI is 6,467 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Michigan.
What is the median household income in Milford?
The median household income in Milford, MI is $102,521 per year, which is 36% above the national median of $75,149.
What is the median home value in Milford?
The median home value in Milford, MI is $348,600, which is 42% above 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, MI is $1,058, which is 9% below the national average of $1,163/month.
What is the unemployment rate in Milford?
The unemployment rate in Milford, MI is 2.7%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Milford, MI a good place to live?
Milford offers above-average incomes, a competitive housing market, and a strong job market. With a population of 6,467 and a median age of 42.1, the city appeals to a broad range of residents.
How educated is Milford, MI?
49.2% of residents in Milford aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Milford?
Key cost-of-living indicators for Milford, MI: median home value is $348,600 (42% above national), median rent is $1,058/month, and median household income is $102,521. The home-value-to-income ratio is 3.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Milford?
The poverty rate in Milford, MI is 8.6%, 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, MI?
Milford's population is 2.2% White, 2.2% Hispanic or Latino, 0.3% Black or African American, 0.6% Asian, and 2.0% two or more races. 3.4% of residents are foreign-born.