Milford, NJ 08848 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Milford, NJ—08848

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$532,000

1.6% YoY Growth

Household Income

$130,000

26.0% YoY Growth

Days on Market

25.0% Longer YoY

Home Price Forecast

1.2%

Median Rent

$1,740

4.3% YoY Growth

1-Bed Rent

$1,650

7.3% YoY Growth

2-Bed Rent

$1,740

3.0% YoY Growth

3-Bed Rent

$2,650

6.0% YoY Growth

Home Price Trends — Milford, NJ

As of May '26, the median home price in Milford, NJ is $532,000, with a year-over-year change of 1.6%. This indicates that home prices in Milford, NJ are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$532,000	1.6%
Single Family	$534,000	2.1%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Milford, NJ

As of July '25, Rentcast reports the average rent in Milford, NJ is $2,010, with a year-over-year rent change of -4.3%. Per bedroom, the median rent as of July '25 in Milford, NJ is 1-bedrooms: $1,650, 2-bedrooms: $1,950, 3-bedrooms: $2,650. The most common rental property sizes in Milford, NJ are 2-bedroom and 3-bedroom, accounting for 51.6% and 18.4% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,740	$2,010
Studio Rent	N/A	N/A
1 Bed Rent	$1,650	$1,650
2 Bed Rent	$1,740	$1,950
3 Bed Rent	$2,650	$2,650
4 Bed Rent	N/A	N/A

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% of Rental Stock

1 Bedroom

14.8%

2 Bedrooms

51.6%

3 Bedrooms

18.4%

4 Bedrooms

15.1%

Property Listings — Milford, NJ

As of May '26, Realtor.com reports that the median days on market for a home in Milford, NJ is 55. This is a increase of 25.0% 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 8.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$619,000	1.0%
Listing Count	50	113.0%
Listings as % of Homes	0.7%	113.0%
Days on Market	55	25.0%

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Demographics — Milford, NJ

As of the latest ACS Survey released in 2023, Milford, NJ has a population of 8,380, which has remained stable by 0.3% over the past 5 years. Milford, NJ is a popular place for families, as children make up 25.8% of the population. The area has a highly educated workforce, with 47.0% 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	8,380	0.3%
% Under 18	25.8%	33.0%
% Seniors	20.4%	0.0%
% WFH	15.3%	135.4%
% w/ College Degree	47.0%	17.2%

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As of the latest ACS Survey released in 2023, Milford, NJ is a predominantly white area, with 94.7% of the population identifying as white. The white population has shrunk by 2.5% in the last 5 years. The second most common race or ethnicity in Milford, NJ is hispanic, making up 1.7% of the population. Foreign-born residents account for 4.9% of the population in Milford, NJ, and this percentage has increased by 157.9% 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	94.7%	-2.5%
% Black	0.9%	50.0%
% Hispanic	1.7%	-26.1%
% Asian	0.5%	400.0%
% Foreign Born	4.9%	157.9%

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Mortgage and Risk — Milford, NJ

According to HUD data as of 2023, there were 223 mortgage originations in Milford, NJ, of which 89.0% of loans were conventional mortgages. The average loan-to-value was 50.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Milford, NJ. Investor activity is low, as 1.0% of loans were by investors. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	223
% Conventional Loans	89.0%
% Government Loans	11.0%
% Investor Loans	1.0%
% Second Loans	0.0%
% Cash Out Refinance	11.0%

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Rentals and Section 8 — Milford, NJ

Milford, NJ lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	30
Total Units Section 8	30
% Rentals under Section 8	7.6%
% Occupied Section 8	89.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$20	$1,650	$1,630
2 Bedroom	$310	$1,740	$2,050
3 Bedroom	-$160	$2,650	$2,490
4 Bedroom	N/A	N/A	$2,730

Milford, NJ—08848

Key Metrics at a Glance

Home Price Trends — Milford, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Milford, NJ

% of Rental Stock

Property Listings — Milford, NJ

Demographics — Milford, NJ

Race and Ethnicity

Mortgage and Risk — Milford, NJ

Mortgages

Rentals and Section 8 — Milford, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Milford, NJ

Home Price to Income Ratio

Milford, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Bloomsbury, NJ

Upper Black Eddy, PA

Stewartsville, NJ

Rolling Hill Acres

Erwinna, PA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.4
Median Home Price	$532,000
Median Household Income	$130,000

Milford, NJ—08848

Key Metrics at a Glance

Home Price Trends — Milford, NJ

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Milford, NJ

% of Rental Stock

Property Listings — Milford, NJ

Demographics — Milford, NJ

Race and Ethnicity

Mortgage and Risk — Milford, NJ

Mortgages

Rentals and Section 8 — Milford, NJ

Section 8 Market Size

Section 8 Opportunity

Affordability — Milford, NJ

Home Price to Income Ratio

Milford, NJ — ZIP Code Boundary Map

Nearby ZIP Codes

Bloomsbury, NJ

Upper Black Eddy, PA

Stewartsville, NJ

Rolling Hill Acres

Erwinna, PA

Frequently Asked Questions

What is the average home price in Milford, NJ 08848?

How have home prices in Milford, NJ 08848 changed over the past year?

What is the home price projection for Milford, NJ 08848?

What are the demographics of Milford, NJ 08848?

How long does it take homes to sell in Milford, NJ 08848?

What is the average rent price in Milford, NJ 08848?