Milford, VA—22427
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Milford, VA
Home Price Trends — Milford, VA
Milford, VA lacks sufficient home price data for analysis.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $354,000 | 2.8% |
| Single Family | $355,000 | 2.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $241,000 | 1.3% |
3 Bed | $353,000 | 2.0% |
4 Bed | $412,000 | 1.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Milford, VA
As of July '25, Rentcast reports the average rent in Milford, VA is $2,160, with a year-over-year rent change of 3.8%. Per bedroom, the median rent as of July '25 in Milford, VA is 2-bedrooms: $1,600, 3-bedrooms: $2,200, 4-bedrooms: $2,420. The most common rental property sizes in Milford, VA are 2-bedroom and 3-bedroom, accounting for 59.8% and 19.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,200 | $2,160 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,600 | $1,600 |
| 3 Bed Rent | $2,200 | $2,200 |
| 4 Bed Rent | $2,400 | $2,420 |
% of Rental Stock
Property Listings — Milford, VA
As of Oct '25, Realtor.com reports that the median days on market for a home in Milford, VA is 63. This is a increase of 21.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $397,000 | 3.0% |
Listing Count | 19 | -35.0% |
| Listings as % of Homes | 2.3% | -35.0% |
Days on Market | 63 | 21.0% |
Demographics — Milford, VA
As of the latest ACS Survey released in 2023, Milford, VA has a population of 4,300, which has decreased by -16.6% over the past 5 years. Milford, VA is a moderately popular place for families, as children make up 18.4% of the population. The area has a poorly educated workforce, with 18.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.9% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 4,300 | -16.6% |
% Under 18 | 18.4% | 10.2% |
% Seniors | 14.5% | -5.2% |
% WFH | 5.9% | 31.1% |
% w/ College Degree | 18.2% | -30.0% |
As of the latest ACS Survey released in 2023, Milford, VA is a predominantly white area, with 65.7% of the population identifying as white. The white population has grown by 25.1% in the last 5 years. The second most common race or ethnicity in Milford, VA is black, making up 14.2% of the population. Foreign-born residents account for 3.7% of the population in Milford, VA, and this percentage has decreased by 22.9% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 65.7% | 25.1% |
% Black | 14.2% | -58.1% |
% Hispanic | 6.6% | -36.5% |
% Asian | 0.8% | -46.7% |
% Foreign Born | 3.7% | -22.9% |
Mortgage and Risk — Milford, VA
According to HUD data as of 2023, there were 126 mortgage originations in Milford, VA, of which 42.0% of loans were conventional mortgages. The average loan-to-value was 80.0%, with 55.0% above 90% LTV (very high). This implies large mortgage risk in Milford, VA. Investor activity is low, as 2.0% 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 | 126 |
% Conventional Loans | 42.0% |
% Government Loans | 58.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Milford, VA
Milford, VA lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 34 |
Total Units Section 8 | 34 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 98.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $860 |
| 2 Bedroom | -$530 | $1,600 | $1,070 |
| 3 Bedroom | -$700 | $2,200 | $1,500 |
| 4 Bedroom | -$640 | $2,400 | $1,760 |
Affordability — Milford, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.1 |
| Median Home Price | $354,000 |
| Median Household Income | $76,600 |