Milford, VA—22514
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 | $307,000 | 0.4% |
| Single Family | $307,000 | 0.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $231,000 | -3.3% |
3 Bed | $321,000 | 0.9% |
4 Bed | $431,000 | 4.9% |
| 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 $1,690, with a year-over-year rent change of -19.5%. Per bedroom, the median rent as of July '25 in Milford, VA is 1-bedrooms: $1,250, 3-bedrooms: $2,120, 4-bedrooms: $1,700. The most common rental property sizes in Milford, VA are 2-bedroom and 3-bedroom, accounting for 54.4% and 33.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,690 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,250 | $1,250 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,950 | $2,120 |
| 4 Bed Rent | $1,700 | $1,700 |
% 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 46. This is a decrease of -27.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $440,000 | -41.0% |
Listing Count | 13 | 7.0% |
| Listings as % of Homes | 0.6% | 7.0% |
Days on Market | 46 | -27.0% |
Demographics — Milford, VA
As of the latest ACS Survey released in 2023, Milford, VA has a population of 2,400, which has increased by 6.9% over the past 5 years. Milford, VA is a moderately popular place for families, as children make up 22.5% of the population. The area has a poorly educated workforce, with 21.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,400 | 6.9% |
% Under 18 | 22.5% | 9.8% |
% Seniors | 21.8% | 8.5% |
% WFH | 6.8% | 19.3% |
% w/ College Degree | 21.5% | -10.0% |
As of the latest ACS Survey released in 2023, Milford, VA is a predominantly white area, with 64.7% of the population identifying as white. The white population has shrunk by 11.6% in the last 5 years. The second most common race or ethnicity in Milford, VA is black, making up 22.3% of the population. Foreign-born residents account for 0.6% of the population in Milford, VA, and this percentage has decreased by 90.3% 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 | 64.7% | -11.6% |
% Black | 22.3% | 53.8% |
% Hispanic | 3.6% | -14.3% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.6% | -90.3% |
Mortgage and Risk — Milford, VA
According to HUD data as of 2023, there were 31 mortgage originations in Milford, VA, of which 58.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Milford, VA. Investor activity is low, as 0.0% of loans were by investors. 19.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 31 |
% Conventional Loans | 58.0% |
% Government Loans | 42.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 19.0% |
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 | N/A |
Total Units Section 8 | N/A |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$370 | $1,250 | $880 |
| 2 Bedroom | N/A | N/A | $1,070 |
| 3 Bedroom | -$450 | $1,950 | $1,500 |
| 4 Bedroom | $60 | $1,700 | $1,760 |
Affordability — Milford, VA
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.8 |
| Median Home Price | $307,000 |
| Median Household Income | $74,100 |