The typical owner-occupied home in Milford is worth about $329,200, 43% above the Missouri median of $230,300 and about the same as the national median of $332,700. Owners pay a median $2,292 a year in property taxes, about 0.70% of their home's value, lower than the Missouri rate of 0.85%. 100% of occupied homes here are lived in by their owners, and 94% of those owners still have a mortgage.
Milford at a glance
| Milford | Missouri | U.S. | |
|---|---|---|---|
| Median home value | $329,200 | $230,300 | $332,700 |
| Median property tax paid per year | $2,292 | $1,948 | $3,119 |
| Property tax as a share of value | 0.70% | 0.85% | 0.94% |
| Median household income | – | $70,702 | $80,734 |
| Homes lived in by their owners | 100% | 68% | 65% |
| Owner homes with a mortgage | 94% | 60% | 61% |
| Median monthly costs, owners with a mortgage | $1,500 | $1,524 | $1,963 |
| Those costs as a share of the owners' income | 18.3% | 19.0% | 21.0% |
| Median rent | – | $1,033 | $1,413 |
| Median year homes were built | 1975 | 1978 | 1980 |
| Vacant homes | 0.0% | 11.2% | 10.1% |
| Population | 54 | 6,191,814 | 334,922,499 |
What a typical home costs per month in Milford
At this week's average 30-year rate of 7.11%, buying the median Milford home of $329,200 with 20% down costs about $2,101 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,649, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $90,036 for the 20%-down payment.
| Down payment | $65,840 |
|---|---|
| Loan amount | $263,360 |
| Principal and interest | $1,772 |
| Property taxes (0.70% a year) | $192 |
| Homeowners insurance (our estimate, 0.5% a year) | $137 |
| PMI | $0 |
| Total per month | $2,101 |
Change the numbers in the calculator
| Down payment | $11,522 |
|---|---|
| Loan amount | $323,237 |
| Principal and interest | $2,174 |
| Property taxes (0.70% a year) | $192 |
| Homeowners insurance (our estimate, 0.5% a year) | $137 |
| FHA mortgage insurance | $146 |
| Total per month | $2,649 |
Change the numbers in the calculator
Questions about home buying in Milford
What is the median home value in Milford?
About $329,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Milford?
Homeowners pay a median $2,292 a year, which is about 0.70% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Milford?
For the median home with 20% down at 7.11%, the payment is about $2,101 a month. Keeping that under 28% of gross income takes about $90,036 a year.
More about Milford
- Mortgage Refinance in Milford
- Debt Relief in Milford
- Home Equity Loans in Milford
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data