Milford, CT—06461
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 $484,000, with a year-over-year change of 2.5%. This indicates that home prices in Milford, CT are increasing. According to Zillow, the 1-year price projection is 2.8%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $484,000 | 2.6% |
| Single Family | $529,000 | 2.5% |
| Condos | $364,000 | 2.5% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $268,000 | 1.9% |
2 Bed | $419,000 | 2.7% |
3 Bed | $494,000 | 2.7% |
4 Bed | $654,000 | 2.0% |
| 5 Bed | $690,000 | 1.5% |
% of Housing Stock
Rental Trends — Milford, CT
Milford, CT lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,400 | $2,700 |
| Studio Rent | $2,100 | $2,100 |
| 1 Bed Rent | $1,000 | $1,350 |
| 2 Bed Rent | $3,000 | $2,920 |
| 3 Bed Rent | $2,400 | $2,200 |
| 4 Bed Rent | $4,000 | $4,100 |
% 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 22. This is a decrease of -22.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 17.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $504,000 | -14.0% |
Listing Count | 48 | 6.0% |
| Listings as % of Homes | 0.6% | 6.0% |
Days on Market | 22 | -22.0% |
Demographics — Milford, CT
As of the latest ACS Survey released in 2023, Milford, CT has a population of 15,300, which has increased by 1.2% over the past 5 years. Milford, CT is a moderately popular place for families, as children make up 18.8% of the population. The area has a highly educated workforce, with 47.8% 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 | 15,300 | 1.2% |
% Under 18 | 18.8% | -7.8% |
% Seniors | 18.8% | -4.1% |
% WFH | 15.3% | 142.9% |
% w/ College Degree | 47.8% | 15.2% |
As of the latest ACS Survey released in 2023, Milford, CT is a predominantly white area, with 76.4% of the population identifying as white. The white population has shrunk by 8.4% in the last 5 years. The second most common race or ethnicity in Milford, CT is hispanic, making up 11.2% of the population. Foreign-born residents account for 11.9% of the population in Milford, CT, and this percentage has increased by 14.4% 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 | 76.4% | -8.4% |
% Black | 1.5% | -40.0% |
% Hispanic | 11.2% | 93.1% |
% Asian | 7.9% | 8.2% |
% Foreign Born | 11.9% | 14.4% |
Mortgage and Risk — Milford, CT
According to HUD data as of 2023, there were 264 mortgage originations in Milford, CT, of which 94.0% of loans were conventional mortgages. The average loan-to-value was 54.0%, with 11.0% above 90% LTV (elevated). This implies medium mortgage risk in Milford, CT. Investor activity is low, as 1.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 264 |
% Conventional Loans | 94.0% |
% Government Loans | 6.0% |
% Investor Loans | 1.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Milford, CT
As of 2024, the percent of homes in Milford, CT under the Section 8 program is 3.8%. 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. 1-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Milford, CT, because HUD payments exceed market rent, while 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 28 |
Total Units Section 8 | 27 |
% Rentals under Section 8 | 3.8% |
% Occupied Section 8 | 71.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $1,110 | $1,000 | $2,110 |
| 2 Bedroom | -$450 | $3,000 | $2,550 |
| 3 Bedroom | $670 | $2,400 | $3,070 |
| 4 Bedroom | $280 | $4,000 | $4,280 |
Affordability — Milford, CT
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $484,000 |
| Median Household Income | $124,000 |