Milford, NJ
Population 1,306 · New Jersey
About Milford, NJ
Milford is a small community in New Jersey with a population of 1,306 residents. The median household income is $88,295 per year, which is above the national average. The median age in Milford is 43.1 years.
Housing in Milford has a median home value of $304,100 and median monthly rent of $1,476. Of the 578 total housing units, the majority are owner-occupied, with 397 owner-occupied and 144 renter-occupied units.
The unemployment rate in Milford is 7.1% and the poverty rate is 6.8%. 39.7% of residents hold a bachelor's degree or higher. The average commute time is 34 minutes.
Cost of Living in Milford, NJ
Compared to national averages, Milford has a median household income of $88,295 (17% above the national median of $75,149). Home values average $304,100, which is 24% above the national median. Monthly rent at $1,476 is 27% above the US average of $1,163. Within New Jersey, Milford's income is 24% below the state average of $115,667, and home values are 35% below the state median of $469,644.
Why Live in Milford, NJ?
Milford offers a strong local economy with a median household income of $88,295, well above the national average, and a well-educated community where 39.7% of residents hold a bachelor’s degree or higher, and a low poverty rate of 6.8%, better than the national average.
Milford has a population of 1,306 with a median age of 43.1 years. Compare Milford with other cities to see how it stacks up, or explore all cities in New Jersey.
Similar Cities Near Milford
Cities in New Jersey with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Brookside | 1,287 | $250,001 | $892,500 | Compare |
| Newfoundland | 1,281 | $127,674 | $439,600 | Compare |
| Springfield | 1,338 | $177,045 | $580,900 | Compare |
| Chesilhurst | 1,340 | $89,904 | $215,100 | Compare |
| Sunset Lake | 1,341 | $53,663 | $539,200 | Compare |
| Crandon Lakes | 1,258 | $92,434 | $279,500 | Compare |
| Dorothy | 1,255 | $104,102 | $306,900 | Compare |
| Chester | 1,359 | $152,578 | $640,400 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in New Jersey
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, NJ?
The population of Milford, NJ is 1,306 according to the latest Census data.
What is the median household income in Milford?
The median household income in Milford, NJ is $88,295 per year.
What is the median home value in Milford?
The median home value in Milford, NJ is $304,100.
What is the average rent in Milford?
The median monthly rent in Milford, NJ is $1,476.
What is the unemployment rate in Milford?
The unemployment rate in Milford, NJ is 7.1%.