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Milford, CT—06460

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$513,000
4.6% YoY Growth
Household Income
$107,000
23.7% YoY Growth
Days on Market
28
21.0% Shorter YoY
Home Price Forecast
2.4%
Median Rent
$2,500
17.4% YoY Growth
1-Bed Rent
$2,100
4.0% YoY Growth
2-Bed Rent
$2,500
12.3% YoY Growth
3-Bed Rent
$3,400
31.0% YoY Growth

Other Zip Codes in Milford, CT

06461
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Milford, CT

As of May '26, the median home price in Milford, CT is $513,000, with a year-over-year change of 4.6%. This indicates that home prices in Milford, CT are increasing. 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 TypeMedian Home ValueYoY % Change
All Homes
$513,0004.6%
Single Family $542,0004.8%
Condos $332,0004.1%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
    • $271,000
    3.0%
    2 Bed
    		$407,0004.1%
    3 Bed
    		$531,0004.9%
    4 Bed
    		$654,0005.1%
    5 Bed $819,3347.0%
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    % of Housing Stock

    Studio
    1.8%
    1 Bedroom
    13.7%
    2 Bedrooms
    25.9%
    3 Bedrooms
    40.6%
    4 Bedrooms
    16.0%
    5+ Bedrooms
    1.9%

    Rental Trends — Milford, CT

    As of July '25, Rentcast reports the average rent in Milford, CT is $2,840, with a year-over-year rent change of 17.4%. Per bedroom, the median rent as of July '25 in Milford, CT is studios: $1,760, 1-bedrooms: $2,080, 2-bedrooms: $2,650, 3-bedrooms: $3,760, 4-bedrooms: $3,780. The most common rental property sizes in Milford, CT are 1-bedroom and 2-bedroom, accounting for 38.7% and 36.9% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,500$2,840
    Studio Rent $1,970$1,760
    1 Bed Rent $2,100$2,080
    2 Bed Rent $2,500$2,650
    3 Bed Rent $3,400$3,760
    4 Bed Rent $3,700$3,780
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    % of Rental Stock

    Studio
    5.8%
    1 Bedroom
    38.7%
    2 Bedrooms
    36.9%
    3 Bedrooms
    13.1%
    4 Bedrooms
    5.3%
    5+ Bedrooms
    0.1%

    Property Listings — Milford, CT

    As of May '26, Realtor.com reports that the median days on market for a home in Milford, CT is 28. This is a decrease of -21.0% 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 22.0%, representing a small inventory and little supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    		$639,0009.0%
    Listing Count
    		1304.0%
    Listings as % of Homes0.5%4.0%
    Days on Market
    		28-21.0%
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    Demographics — Milford, CT

    As of the latest ACS Survey released in 2023, Milford, CT has a population of 37,100, which has decreased by -4.8% over the past 5 years. Milford, CT is a moderately popular place for families, as children make up 16.1% of the population. The area has a highly educated workforce, with 49.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.6% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    		37,100-4.8%
    % Under 18
    		16.1%-2.4%
    % Seniors
    		22.6%25.6%
    % WFH
    		15.6%188.9%
    % w/ College Degree
    		49.2%15.5%
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    As of the latest ACS Survey released in 2023, Milford, CT is a predominantly white area, with 81.8% of the population identifying as white. The white population has shrunk by 1.0% in the last 5 years. The second most common race or ethnicity in Milford, CT is hispanic, making up 8.0% of the population. Foreign-born residents account for 9.8% of the population in Milford, CT, and this percentage has decreased by 14.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    		81.8%-1.0%
    % Black
    		3.3%10.0%
    % Hispanic
    		8.0%15.9%
    % Asian
    		3.6%-35.7%
    % Foreign Born
    		9.8%-14.0%
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    Mortgage and Risk — Milford, CT

    According to HUD data as of 2023, there were 693 mortgage originations in Milford, CT, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Milford, CT. Investor activity is low, as 2.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    		693
    % Conventional Loans
    		94.0%
    % Government Loans
    		6.0%
    % Investor Loans
    		2.0%
    % Second Loans
    		2.0%
    % Cash Out Refinance
    		16.0%
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    Rentals and Section 8 — Milford, CT

    As of 2024, the percent of homes in Milford, CT under the Section 8 program is 7.4%. 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. In Milford, CT, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.

    Section 8 Market Size

    Total Units under HUD
    		661
    Total Units Section 8
    		332
    % Rentals under Section 8
    		7.4%
    % Occupied Section 8
    		74.1%

    Section 8 Opportunity

    Home SizeHUD PremiumMarket RentMax HUD Rent
    1 Bedroom-$280$2,100$1,820
    2 Bedroom-$300$2,500$2,200
    3 Bedroom-$750$3,400$2,650
    4 Bedroom-$10$3,700$3,690

    Affordability — Milford, CT

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.8
    Median Home Price$513,000
    Median Household Income$107,000

    Milford, CT — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Milford, CT

    06461

    Orange, CT

    06477

    Stratford, CT

    06614

    Stratford, CT

    06615

    West Haven, CT

    06516

    Frequently Asked Questions