Milford, ME—04461
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Milford, ME
As of Oct '25, the median home price in Milford, ME is $216,000, with a year-over-year change of 0.1%. This indicates that home prices in Milford, ME are flat. According to Zillow, the 1-year price projection is 2.4%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $216,000 | 0.1% |
| Single Family | $220,000 | 0.5% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $193,000 | 0.0% |
3 Bed | $240,000 | 0.0% |
4 Bed | $272,000 | 1.9% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Milford, ME
As of July '25, Rentcast reports the average rent in Milford, ME is $1,490, with a year-over-year rent change of 26.3%. Per bedroom, the median rent as of July '25 in Milford, ME is 1-bedrooms: $1,200, 2-bedrooms: $1,400, 3-bedrooms: $2,000, 4-bedrooms: $1,500. The most common rental property sizes in Milford, ME are 2-bedroom and 3-bedroom, accounting for 59.1% and 35.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,350 | $1,490 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,200 | $1,200 |
| 2 Bed Rent | $1,350 | $1,400 |
| 3 Bed Rent | $1,500 | $2,000 |
| 4 Bed Rent | $1,500 | $1,500 |
% of Rental Stock
Property Listings — Milford, ME
As of Oct '25, Realtor.com reports that the median days on market for a home in Milford, ME is 95. This is a decrease of -16.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $241,000 | 46.0% |
Listing Count | 8 | 4.0% |
| Listings as % of Homes | 0.2% | 4.0% |
Days on Market | 95 | -16.0% |
Demographics — Milford, ME
As of the latest ACS Survey released in 2023, Milford, ME has a population of 3,080, which has increased by 3.5% over the past 5 years. Milford, ME is a moderately popular place for families, as children make up 19.0% of the population. The area has a poorly educated workforce, with 17.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 3,080 | 3.5% |
% Under 18 | 19.0% | -12.0% |
% Seniors | 15.2% | 35.7% |
% WFH | 8.6% | 760.0% |
% w/ College Degree | 17.2% | -21.1% |
As of the latest ACS Survey released in 2023, Milford, ME is a predominantly white area, with 85.7% of the population identifying as white. The white population has shrunk by 12.0% in the last 5 years. The second most common race or ethnicity in Milford, ME is asian, making up 8.7% of the population. Foreign-born residents account for 5.4% of the population in Milford, ME, and this percentage has increased by 350.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 85.7% | -12.0% |
% Black | 0.0% | N/A |
% Hispanic | 3.6% | 300.0% |
% Asian | 8.7% | ∞% |
% Foreign Born | 5.4% | 350.0% |
Mortgage and Risk — Milford, ME
According to HUD data as of 2023, there were 84 mortgage originations in Milford, ME, of which 69.0% of loans were conventional mortgages. The average loan-to-value was 68.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Milford, ME. Investor activity is low, as 2.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 84 |
% Conventional Loans | 69.0% |
% Government Loans | 31.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Milford, ME
As of 2024, the percent of homes in Milford, ME under the Section 8 program is 12.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 2-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Milford, ME, because HUD payments exceed market rent, while 1-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 24 |
Total Units Section 8 | 24 |
% Rentals under Section 8 | 12.1% |
% Occupied Section 8 | 78.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$30 | $1,200 | $1,170 |
| 2 Bedroom | $140 | $1,350 | $1,490 |
| 3 Bedroom | $410 | $1,500 | $1,910 |
| 4 Bedroom | $480 | $1,500 | $1,980 |
Affordability — Milford, ME
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $216,000 |
| Median Household Income | $63,900 |