Milford, CT 06461 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Milford, CT—06461

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$478,000

2.7% YoY Growth

Household Income

$124,000

25.9% YoY Growth

Days on Market

24.0% Shorter YoY

Home Price Forecast

3.2%

Median Rent

$2,400

N/A

1-Bed Rent

$1,000

N/A

2-Bed Rent

$3,000

N/A

3-Bed Rent

$2,400

N/A

Other Zip Codes in Milford, CT

06460

Home Price Trends — Milford, CT

As of Dec '25, the median home price in Milford, CT is $478,000, with a year-over-year change of 2.7%. This indicates that home prices in Milford, CT are increasing. According to Zillow, the 1-year price projection is 3.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$478,000	2.7%
Single Family	$523,000	2.8%
Condos	$359,000	2.9%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Milford, CT

Milford, CT lacks sufficient rental market data for analysis.

Type	Median Rent	Average Rent
Average Rent	$2,400	$2,700
Studio Rent	$2,100	$2,100
1 Bed Rent	$1,000	$1,350
2 Bed Rent	$3,000	$2,920
3 Bed Rent	$2,400	$2,200
4 Bed Rent	$4,000	$4,100

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% of Rental Stock

Studio

2.6%

1 Bedroom

26.1%

2 Bedrooms

37.5%

3 Bedrooms

21.7%

4 Bedrooms

12.2%

Property Listings — Milford, CT

As of Dec '25, Realtor.com reports that the median days on market for a home in Milford, CT is 39. This is a decrease of -23.0% 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 21.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$500,000	-11.0%
Listing Count	50	10.0%
Listings as % of Homes	0.6%	10.0%
Days on Market	54	-24.0%

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Demographics — Milford, CT

As of the latest ACS Survey released in 2023, Milford, CT has a population of 15,300, which has increased by 1.2% over the past 5 years. Milford, CT is a moderately popular place for families, as children make up 18.8% of the population. The area has a highly educated workforce, with 47.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.3% reporting working from home.

Metric	Latest Census	YoY % Change
Population	15,300	1.2%
% Under 18	18.8%	-7.8%
% Seniors	18.8%	-4.1%
% WFH	15.3%	142.9%
% w/ College Degree	47.8%	15.2%

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As of the latest ACS Survey released in 2023, Milford, CT is a predominantly white area, with 76.4% of the population identifying as white. The white population has shrunk by 8.4% in the last 5 years. The second most common race or ethnicity in Milford, CT is hispanic, making up 11.2% of the population. Foreign-born residents account for 11.9% of the population in Milford, CT, and this percentage has increased by 14.4% 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	76.4%	-8.4%
% Black	1.5%	-40.0%
% Hispanic	11.2%	93.1%
% Asian	7.9%	8.2%
% Foreign Born	11.9%	14.4%

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Mortgage and Risk — Milford, CT

According to HUD data as of 2023, there were 264 mortgage originations in Milford, CT, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 11.0% above 90% LTV (elevated). This implies medium mortgage risk in Milford, CT. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	264
% Conventional Loans	94.0%
% Government Loans	6.0%
% Investor Loans	1.0%
% Second Loans	1.0%
% Cash Out Refinance	12.0%

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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 3.8%. 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. 1-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Milford, CT, because HUD payments exceed market rent, while 2-bedroom units do not.

Section 8 Market Size

Total Units under HUD	28
Total Units Section 8	27
% Rentals under Section 8	3.8%
% Occupied Section 8	71.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$1,110	$1,000	$2,110
2 Bedroom	-$450	$3,000	$2,550
3 Bedroom	$670	$2,400	$3,070
4 Bedroom	$280	$4,000	$4,280

Milford, CT—06461

Key Metrics at a Glance

Other Zip Codes in Milford, CT

Home Price Trends — Milford, CT

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Milford, CT

% of Rental Stock

Property Listings — Milford, CT

Demographics — Milford, CT

Race and Ethnicity

Mortgage and Risk — Milford, CT

Mortgages

Rentals and Section 8 — Milford, CT

Section 8 Market Size

Section 8 Opportunity

Affordability — Milford, CT

Home Price to Income Ratio

Milford, CT — ZIP Code Boundary Map

Nearby ZIP Codes

Milford, CT

Stratford, CT

Orange, CT

Derby, CT

Stratford, CT

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.2
Median Home Price	$478,000
Median Household Income	$124,000

Milford, CT—06461

Key Metrics at a Glance

Other Zip Codes in Milford, CT

Home Price Trends — Milford, CT

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Milford, CT

% of Rental Stock

Property Listings — Milford, CT

Demographics — Milford, CT

Race and Ethnicity

Mortgage and Risk — Milford, CT

Mortgages

Rentals and Section 8 — Milford, CT

Section 8 Market Size

Section 8 Opportunity

Affordability — Milford, CT

Home Price to Income Ratio

Milford, CT — ZIP Code Boundary Map

Nearby ZIP Codes

Milford, CT

Stratford, CT

Orange, CT

Derby, CT

Stratford, CT

Frequently Asked Questions

What is the average home price in Milford, CT 06461?

How have home prices in Milford, CT 06461 changed over the past year?

What is the home price projection for Milford, CT 06461?

What are the demographics of Milford, CT 06461?

How long does it take homes to sell in Milford, CT 06461?

What is the average rent price in Milford, CT 06461?