Milford, CT—06460
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Milford, CT
Home Price Trends — Milford, CT
As of Oct '25, the median home price in Milford, CT is $485,000, with a year-over-year change of 3.1%. 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 | $485,000 | 3.2% |
| Single Family | $512,000 | 3.4% |
| Condos | $323,000 | 2.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $267,000 | 3.1% |
2 Bed | $391,000 | 2.4% |
3 Bed | $501,000 | 3.5% |
4 Bed | $619,000 | 3.2% |
| 5 Bed | $773,000 | 2.9% |
% of Housing Stock
Rental Trends — Milford, CT
As of July '25, Rentcast reports the average rent in Milford, CT is $2,840, with a year-over-year rent change of 17.4%. Per bedroom, the median rent as of July '25 in Milford, CT is studios: $1,760, 1-bedrooms: $2,080, 2-bedrooms: $2,650, 3-bedrooms: $3,760, 4-bedrooms: $3,780. The most common rental property sizes in Milford, CT are 1-bedroom and 2-bedroom, accounting for 38.7% and 36.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,500 | $2,840 |
| Studio Rent | $1,970 | $1,760 |
| 1 Bed Rent | $2,100 | $2,080 |
| 2 Bed Rent | $2,500 | $2,650 |
| 3 Bed Rent | $3,400 | $3,760 |
| 4 Bed Rent | $3,700 | $3,780 |
% of Rental Stock
Property Listings — Milford, CT
As of Oct '25, Realtor.com reports that the median days on market for a home in Milford, CT is 46. 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 12.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $604,000 | 0.0% |
Listing Count | 131 | 6.0% |
| Listings as % of Homes | 0.5% | 6.0% |
Days on Market | 46 | 25.0% |
Demographics — Milford, CT
As of the latest ACS Survey released in 2023, Milford, CT has a population of 37,100, which has decreased by -4.8% over the past 5 years. Milford, CT is a moderately popular place for families, as children make up 16.1% of the population. The area has a highly educated workforce, with 49.2% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 37,100 | -4.8% |
% Under 18 | 16.1% | -2.4% |
% Seniors | 22.6% | 25.6% |
% WFH | 15.6% | 188.9% |
% w/ College Degree | 49.2% | 15.5% |
As of the latest ACS Survey released in 2023, Milford, CT is a predominantly white area, with 81.8% of the population identifying as white. The white population has shrunk by 1.0% in the last 5 years. The second most common race or ethnicity in Milford, CT is hispanic, making up 8.0% of the population. Foreign-born residents account for 9.8% of the population in Milford, CT, and this percentage has decreased by 14.0% 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 | 81.8% | -1.0% |
% Black | 3.3% | 10.0% |
% Hispanic | 8.0% | 15.9% |
% Asian | 3.6% | -35.7% |
% Foreign Born | 9.8% | -14.0% |
Mortgage and Risk — Milford, CT
According to HUD data as of 2023, there were 693 mortgage originations in Milford, CT, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 14.0% above 90% LTV (elevated). This implies medium mortgage risk in Milford, CT. Investor activity is low, as 2.0% of loans were by investors. 16.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 693 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 2.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 16.0% |
Loan Activity
Rentals and Section 8 — Milford, CT
As of 2024, the percent of homes in Milford, CT under the Section 8 program is 7.4%. 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, CT, 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 | 661 |
Total Units Section 8 | 332 |
% Rentals under Section 8 | 7.4% |
% Occupied Section 8 | 74.1% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$280 | $2,100 | $1,820 |
| 2 Bedroom | -$300 | $2,500 | $2,200 |
| 3 Bedroom | -$750 | $3,400 | $2,650 |
| 4 Bedroom | -$10 | $3,700 | $3,690 |
Affordability — Milford, CT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $485,000 |
| Median Household Income | $107,000 |