salaryRent is lower than in 69% of U.S. cities. That makes it a rare mix of above-average pay and below-average rent. A typical house costs about 3.2 years of household income. Most homes (77.1%) are owned, so rentals can be hard to find.
How much money do I need?
To rent here comfortably, you should earn about $51,880 a year. That is $25 an hour at a full-time job.
Is rent cheaper than other Michigan cities?
Yes. Rent here is cheaper than in most of Michigan. It is number 88 of 179 cities from cheapest to most expensive.
How much do households earn in Milford?
Share of households by yearly income. 43.9% of households earn $100,000 or more.
Rent by apartment size in Milford
| Size | Milford | U.S. average |
|---|---|---|
| 1 bedroom | $919 | $1,324 |
| 2 bedrooms | $1,346 | $1,509 |
| 3 bedrooms | $2,550 | $1,698 |
| 4 bedrooms | $1,501 | $2,098 |
Median monthly rent plus utilities for all renters, by number of bedrooms.
How expensive is Milford overall?
Everyday prices in Michigan overall are 4% below the U.S. average (index 96.2, U.S. = 100).
Source: U.S. Bureau of Economic Analysis, Regional Price Parities 2024. City-level data is not published for Milford, so the Michigan figure is shown.
Taxes and bills in Milford
Life in Milford
Is it cheaper to rent or buy in Milford?
Renting is cheaper right now: about $1,227 a month less.
Owning assumes a typical $363,700 home, 10% down, a 30-year loan at 6.5% and about 1.5% a year for taxes and insurance. You would also need $36,370 for the down payment.
Frequently asked questions
What is the average rent in Milford, MI?
Renting in Milford costs a median of about $1,297 a month in 2026, including utilities. The Michigan median is $1,314.
How much do I need to make to live in Milford?
To keep rent under 30% of income, you need about $51,880 a year, or $25 an hour at a full-time job.
Is Milford cheap or expensive?
Milford is rated Cheap: rent takes 13.7% of the typical household income of $114,011. It ranks 88th cheapest of 179 Michigan cities we track.
How much are property taxes in Milford?
The median homeowner in Milford pays $5,276 a year in property taxes, about 1.45% of the median home value.
Is Milford more expensive than the national average?
Overall prices in Michigan are 4% below the U.S. average, according to the U.S. Bureau of Economic Analysis.
How much does a house cost in Milford?
The median home value in Milford is $363,700, about 3.2 times the typical yearly household income.
6,487 people live in Milford. Numbers are typical (middle) values.