Milford, ME 04461 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Milford, ME—04461

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$224,000

0.0% YoY Growth

Household Income

$63,900

1.4% YoY Growth

Days on Market

181.0% Longer YoY

Home Price Forecast

1.0%

Median Rent

$1,350

26.3% YoY Growth

1-Bed Rent

$1,200

N/A

2-Bed Rent

$1,350

53.8% YoY Growth

3-Bed Rent

$1,500

13.6% YoY Growth

Home Price Trends — Milford, ME

As of May '26, the median home price in Milford, ME is $224,000, with a year-over-year change of 0.0%. This indicates that home prices in Milford, ME are flat. According to Zillow, the 1-year price projection is 1.0%, suggesting a relatively flat housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$224,000	0.0%
Single Family	$227,000	0.4%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

1 Bedroom

5.6%

2 Bedrooms

59.1%

3 Bedrooms

35.4%

Property Listings — Milford, ME

As of May '26, Realtor.com reports that the median days on market for a home in Milford, ME is 23. This is a increase of 181.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 80.0%, representing a large inventory and a lot of supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$240,000	-3.0%
Listing Count	5	44.0%
Listings as % of Homes	0.2%	44.0%
Days on Market	23	181.0%

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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%

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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%

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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%

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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

Milford, ME—04461

Key Metrics at a Glance

Home Price Trends — Milford, ME

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Milford, ME

% of Rental Stock

Property Listings — Milford, ME

Demographics — Milford, ME

Race and Ethnicity

Mortgage and Risk — Milford, ME

Mortgages

Rentals and Section 8 — Milford, ME

Section 8 Market Size

Section 8 Opportunity

Affordability — Milford, ME

Home Price to Income Ratio

Milford, ME — ZIP Code Boundary Map

Nearby ZIP Codes

Bradley, ME

Summit, ME

Webster

Stillwater

Old Town, ME

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.2
Median Home Price	$224,000
Median Household Income	$63,900

Milford, ME—04461

Key Metrics at a Glance

Home Price Trends — Milford, ME

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Milford, ME

% of Rental Stock

Property Listings — Milford, ME

Demographics — Milford, ME

Race and Ethnicity

Mortgage and Risk — Milford, ME

Mortgages

Rentals and Section 8 — Milford, ME

Section 8 Market Size

Section 8 Opportunity

Affordability — Milford, ME

Home Price to Income Ratio

Milford, ME — ZIP Code Boundary Map

Nearby ZIP Codes

Bradley, ME

Summit, ME

Webster

Stillwater

Old Town, ME

Frequently Asked Questions

What is the average home price in Milford, ME 04461?

How have home prices in Milford, ME 04461 changed over the past year?

What is the home price projection for Milford, ME 04461?

What are the demographics of Milford, ME 04461?

How long does it take homes to sell in Milford, ME 04461?

What is the average rent price in Milford, ME 04461?