Milford, DE

Below Avg · 84

Delaware · Population 12,193 · Updated March 2026

$1,182
Median Rent / Month
$55,265
Median Income
$274,600
Median Home Value
$1,168
Owner Costs / Month

Affordability

How far your income goes in Milford

25.7%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in Delaware

State-level tax rates that affect your costs

6.6%
Income Tax (Top Rate)
0%
Sales Tax
0.57%
Property Tax Rate

Estimated Annual Costs

$14,184
Annual Rent
$3,647
State Income Tax
$1,565
Property Tax (est.)

Cost of Living Overview

Milford is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 84 (where 100 equals the national median), Milford residents can expect to pay median rent of $1,182/month while earning a median household income of $55,265/year.

The median home value in Milford, DE is $274,600, with typical monthly owner costs around $1,168 including mortgage, insurance, and taxes. With a rent-to-income ratio of 25.7%, Milford falls within the generally affordable range, though it's approaching the 30% burden threshold.

Delaware has a moderate income tax rate of 6.6%. Combined with a 0% sales tax rate and 0.57% effective property tax rate, the overall tax environment is a factor in the total cost of living in Milford.

Frequently Asked Questions

Common questions about living costs in Milford

What is the cost of living in Milford, DE?
The cost of living index in Milford, DE is 84 (US average = 100). Median monthly rent is $1,182, median household income is $55,265/year, and the median home value is $274,600.
Is Milford, DE affordable?
Yes, Milford is more affordable than the national average with a cost index of 84. The rent-to-income ratio is 25.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Milford, DE?
The median gross rent in Milford, DE is $1,182 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $14,184.
What is the median household income in Milford?
The median household income in Milford, DE is $55,265 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Delaware?
Delaware has a top income tax rate of 6.6%, a sales tax of 0%, and an effective property tax rate of 0.57%.