Milford, VA 22427 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Milford, VA—22427

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$357,000

2.9% YoY Growth

Household Income

$76,600

43.9% YoY Growth

Days on Market

25.0% Longer YoY

Home Price Forecast

N/A

Median Rent

$2,200

3.8% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

$1,600

N/A

3-Bed Rent

$2,200

7.3% YoY Growth

Other Zip Codes in Milford, VA

22514

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	$357,000	2.9%
Single Family	$357,000	2.9%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed	N/A	N/A

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

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% of Rental Stock

Studio

2.6%

1 Bedroom

16.5%

2 Bedrooms

59.8%

3 Bedrooms

19.3%

4 Bedrooms

1.8%

Property Listings — Milford, VA

As of Nov '25, Realtor.com reports that the median days on market for a home in Milford, VA is 43. 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 0.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$399,000	2.0%
Listing Count	15	-45.0%
Listings as % of Homes	2.3%	-45.0%
Days on Market	43	25.0%

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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%

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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%

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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%

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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

Milford, VA—22427

Key Metrics at a Glance

Other Zip Codes in Milford, VA

Home Price Trends — Milford, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Milford, VA

% of Rental Stock

Property Listings — Milford, VA

Demographics — Milford, VA

Race and Ethnicity

Mortgage and Risk — Milford, VA

Mortgages

Rentals and Section 8 — Milford, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — Milford, VA

Home Price to Income Ratio

Milford, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Bowling Green, VA

Milford, VA

Rappahannock Academy, VA

Woodford, VA

Ruther Glen, VA

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	4.1
Median Home Price	$357,000
Median Household Income	$76,600

Milford, VA—22427

Key Metrics at a Glance

Other Zip Codes in Milford, VA

Home Price Trends — Milford, VA

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Milford, VA

% of Rental Stock

Property Listings — Milford, VA

Demographics — Milford, VA

Race and Ethnicity

Mortgage and Risk — Milford, VA

Mortgages

Rentals and Section 8 — Milford, VA

Section 8 Market Size

Section 8 Opportunity

Affordability — Milford, VA

Home Price to Income Ratio

Milford, VA — ZIP Code Boundary Map

Nearby ZIP Codes

Bowling Green, VA

Milford, VA

Rappahannock Academy, VA

Woodford, VA

Ruther Glen, VA

Frequently Asked Questions

What is the average home price in Milford, VA 22427?

How have home prices in Milford, VA 22427 changed over the past year?

What is the home price projection for Milford, VA 22427?

What are the demographics of Milford, VA 22427?

How long does it take homes to sell in Milford, VA 22427?

What is the average rent price in Milford, VA 22427?