Milford Mill, MD

Average · 102

Maryland · Population 31,939 · Updated March 2026

$1,576
Median Rent / Month
$76,676
Median Income
$269,900
Median Home Value
$1,586
Owner Costs / Month

Affordability

How far your income goes in Milford Mill

24.7%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Maryland

State-level tax rates that affect your costs

5.75%
Income Tax (Top Rate)
6.0%
Sales Tax
1.07%
Property Tax Rate

Estimated Annual Costs

$18,912
Annual Rent
$4,409
State Income Tax
$2,888
Property Tax (est.)

Cost of Living Overview

Milford Mill has a cost of living close to the national average, offering a balanced mix of expenses and amenities. With a cost index of 102 (where 100 equals the national median), Milford Mill residents can expect to pay median rent of $1,576/month while earning a median household income of $76,676/year.

The median home value in Milford Mill, MD is $269,900, with typical monthly owner costs around $1,586 including mortgage, insurance, and taxes. The median rent-to-income ratio of 24.7% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Maryland has a moderate income tax rate of 5.75%. Combined with a 6.0% sales tax rate and 1.07% effective property tax rate, the overall tax environment is a factor in the total cost of living in Milford Mill.

Frequently Asked Questions

Common questions about living costs in Milford Mill

What is the cost of living in Milford Mill, MD?
The cost of living index in Milford Mill, MD is 102 (US average = 100). Median monthly rent is $1,576, median household income is $76,676/year, and the median home value is $269,900.
Is Milford Mill, MD affordable?
No, Milford Mill is more expensive than the national average with a cost index of 102. The rent-to-income ratio is 24.7%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Milford Mill, MD?
The median gross rent in Milford Mill, MD is $1,576 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $18,912.
What is the median household income in Milford Mill?
The median household income in Milford Mill, MD is $76,676 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Maryland?
Maryland has a top income tax rate of 5.75%, a sales tax of 6.0%, and an effective property tax rate of 1.07%.