The typical owner-occupied home in Milford is worth about $357,800, 11% below the New Hampshire median of $402,500 and 8% above the national median of $332,700. Owners pay a median $6,978 a year in property taxes, about 1.95% of their home's value, higher than the New Hampshire rate of 1.66%. The median household earns $78,684 a year, so the median home costs 4.5 times the median income (4.1 times for New Hampshire). 59% of occupied homes here are lived in by their owners, and 77% of those owners still have a mortgage.
Milford at a glance
| Milford | New Hampshire | U.S. | |
|---|---|---|---|
| Median home value | $357,800 | $402,500 | $332,700 |
| Median property tax paid per year | $6,978 | $6,667 | $3,119 |
| Property tax as a share of value | 1.95% | 1.66% | 0.94% |
| Median household income | $78,684 | $99,031 | $80,734 |
| Homes lived in by their owners | 59% | 73% | 65% |
| Owner homes with a mortgage | 77% | 62% | 61% |
| Median monthly costs, owners with a mortgage | $2,420 | $2,367 | $1,963 |
| Those costs as a share of the owners' income | 25.2% | 21.9% | 21.0% |
| Median rent | $1,557 | $1,491 | $1,413 |
| Rent as a share of renters' income | 29.2% | 29.4% | 30.6% |
| Median year homes were built | 1976 | 1979 | 1980 |
| Vacant homes | 2.2% | 14.3% | 10.1% |
| Population | 8,956 | 1,394,868 | 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 $357,800 with 20% down costs about $2,656 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,252, 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 $113,831 for the 20%-down payment. That payment is 41% of the median Milford household income of $78,684; at that income and 20% down, the 28% guideline points to a home of about $247,000.
The median rent here is $1,557 a month, so owning the median home costs about $1,099 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $71,560 |
|---|---|
| Loan amount | $286,240 |
| Principal and interest | $1,926 |
| Property taxes (1.95% a year) | $581 |
| Homeowners insurance (our estimate, 0.5% a year) | $149 |
| PMI | $0 |
| Total per month | $2,656 |
Change the numbers in the calculator
| Down payment | $12,523 |
|---|---|
| Loan amount | $351,319 |
| Principal and interest | $2,363 |
| Property taxes (1.95% a year) | $581 |
| Homeowners insurance (our estimate, 0.5% a year) | $149 |
| FHA mortgage insurance | $158 |
| Total per month | $3,252 |
Change the numbers in the calculator
Questions about home buying in Milford
What is the median home value in Milford?
About $357,800 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 $6,978 a year, which is about 1.95% 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 $2,656 a month. Keeping that under 28% of gross income takes about $113,831 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