Milford, DE—19963
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Milford, DE
As of Oct '25, the median home price in Milford, DE is $344,000, with a year-over-year change of 1.6%. This indicates that home prices in Milford, DE are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $344,000 | 1.6% |
| Single Family | $351,000 | 1.7% |
| Condos | $258,000 | -4.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $259,000 | 1.2% |
3 Bed | $344,000 | 2.4% |
4 Bed | $423,000 | 2.7% |
| 5 Bed | $471,000 | 2.4% |
% of Housing Stock
Rental Trends — Milford, DE
As of July '25, Rentcast reports the average rent in Milford, DE is $2,020, with a year-over-year rent change of 14.1%. Per bedroom, the median rent as of July '25 in Milford, DE is 1-bedrooms: $1,380, 2-bedrooms: $1,580, 3-bedrooms: $2,060, 4-bedrooms: $2,540. The most common rental property sizes in Milford, DE are 2-bedroom and 3-bedroom, accounting for 36.4% and 29.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,950 | $2,020 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,200 | $1,380 |
| 2 Bed Rent | $1,750 | $1,580 |
| 3 Bed Rent | $2,000 | $2,060 |
| 4 Bed Rent | $2,550 | $2,540 |
% of Rental Stock
Property Listings — Milford, DE
As of Oct '25, Realtor.com reports that the median days on market for a home in Milford, DE is 75. This is a increase of 38.0% 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 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $449,000 | 1.0% |
Listing Count | 148 | 36.0% |
| Listings as % of Homes | 0.8% | 36.0% |
Days on Market | 75 | 38.0% |
Demographics — Milford, DE
As of the latest ACS Survey released in 2023, Milford, DE has a population of 22,500, which has increased by 8.5% over the past 5 years. Milford, DE is a moderately popular place for families, as children make up 23.3% of the population. The area has a moderately educated workforce, with 27.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,500 | 8.5% |
% Under 18 | 23.3% | 4.0% |
% Seniors | 22.3% | 5.7% |
% WFH | 8.4% | 52.7% |
% w/ College Degree | 27.4% | 7.5% |
As of the latest ACS Survey released in 2023, Milford, DE is a predominantly white area, with 62.1% of the population identifying as white. The white population has shrunk by 9.1% in the last 5 years. The second most common race or ethnicity in Milford, DE is black, making up 20.3% of the population. Foreign-born residents account for 10.9% of the population in Milford, DE, and this percentage has increased by 62.7% 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 | 62.1% | -9.1% |
% Black | 20.3% | 36.2% |
% Hispanic | 10.3% | -19.5% |
% Asian | 2.7% | 107.7% |
% Foreign Born | 10.9% | 62.7% |
Mortgage and Risk — Milford, DE
According to HUD data as of 2023, there were 651 mortgage originations in Milford, DE, of which 67.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 34.0% above 90% LTV (very high). This implies large mortgage risk in Milford, DE. Investor activity is low, as 1.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 651 |
% Conventional Loans | 67.0% |
% Government Loans | 33.0% |
% Investor Loans | 1.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Milford, DE
As of 2024, the percent of homes in Milford, DE under the Section 8 program is 9.2%. 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, DE, 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 | 262 |
Total Units Section 8 | 245 |
% Rentals under Section 8 | 9.2% |
% Occupied Section 8 | 83.3% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$160 | $1,200 | $1,040 |
| 2 Bedroom | -$400 | $1,750 | $1,350 |
| 3 Bedroom | -$230 | $2,000 | $1,770 |
| 4 Bedroom | -$460 | $2,550 | $2,090 |
Affordability — Milford, DE
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.8 |
| Median Home Price | $344,000 |
| Median Household Income | $65,400 |