Milford, DE 19963 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Milford, DE—19963

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$344,000

1.5% YoY Growth

Household Income

$65,400

13.6% YoY Growth

Days on Market

29.0% Longer YoY

Home Price Forecast

2.5%

Median Rent

$1,950

14.1% YoY Growth

1-Bed Rent

$1,200

31.4% YoY Growth

2-Bed Rent

$1,750

0.6% YoY Growth

3-Bed Rent

$2,000

2.5% YoY Growth

Home Price Trends — Milford, DE

As of Dec '25, the median home price in Milford, DE is $344,000, with a year-over-year change of 1.5%. This indicates that home prices in Milford, DE are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$344,000	1.5%
Single Family	$352,000	1.4%
Condos	$258,000	-5.1%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

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

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% of Rental Stock

Studio

2.2%

1 Bedroom

26.4%

2 Bedrooms

36.4%

3 Bedrooms

29.2%

4 Bedrooms

4.9%

5+ Bedrooms

1.0%

Property Listings — Milford, DE

As of Dec '25, Realtor.com reports that the median days on market for a home in Milford, DE is 82. This is a increase of 26.0% 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 23.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$454,000	-5.0%
Listing Count	101	22.0%
Listings as % of Homes	0.8%	22.0%
Days on Market	90	29.0%

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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%

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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%

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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%

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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

Milford, DE—19963

Key Metrics at a Glance

Home Price Trends — Milford, DE

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Milford, DE

% of Rental Stock

Property Listings — Milford, DE

Demographics — Milford, DE

Race and Ethnicity

Mortgage and Risk — Milford, DE

Mortgages

Rentals and Section 8 — Milford, DE

Section 8 Market Size

Section 8 Opportunity

Affordability — Milford, DE

Home Price to Income Ratio

Milford, DE — ZIP Code Boundary Map

Nearby ZIP Codes

Lincoln, DE

Frederica, DE

Houston, DE

Ellendale, DE

Magnolia, DE

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.8
Median Home Price	$344,000
Median Household Income	$65,400

Milford, DE—19963

Key Metrics at a Glance

Home Price Trends — Milford, DE

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Milford, DE

% of Rental Stock

Property Listings — Milford, DE

Demographics — Milford, DE

Race and Ethnicity

Mortgage and Risk — Milford, DE

Mortgages

Rentals and Section 8 — Milford, DE

Section 8 Market Size

Section 8 Opportunity

Affordability — Milford, DE

Home Price to Income Ratio

Milford, DE — ZIP Code Boundary Map

Nearby ZIP Codes

Lincoln, DE

Frederica, DE

Houston, DE

Ellendale, DE

Magnolia, DE

Frequently Asked Questions

What is the average home price in Milford, DE 19963?

How have home prices in Milford, DE 19963 changed over the past year?

What is the home price projection for Milford, DE 19963?

What are the demographics of Milford, DE 19963?

How long does it take homes to sell in Milford, DE 19963?

What is the average rent price in Milford, DE 19963?