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  1. Home
  2. /Browse ZIP Codes
  3. /Michigan
  4. /Milford, MI - 48380

Milford, MI—48380

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value
$568,000
3.0% YoY Growth
Household Income
$133,000
34.0% YoY Growth
Days on Market
26
48.0% Shorter YoY
Home Price Forecast
1.5%
Median Rent
$2,000
37.5% YoY Growth
1-Bed Rent
N/A
N/A
2-Bed Rent
N/A
N/A
3-Bed Rent
$2,000
17.6% YoY Growth

Other Zip Codes in Milford, MI

48381
  • Home Price Trends
  • Rental Trends
  • Property Listings
  • Demographics
  • Mortgage and Risk

Home Price Trends — Milford, MI

As of May '26, the median home price in Milford, MI is $568,000, with a year-over-year change of 3.0%. This indicates that home prices in Milford, MI are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.

Cost per Home Type

Home TypeMedian Home ValueYoY % Change
All Homes
$568,0003.0%
Single Family $556,0003.0%
Condos $706,0003.2%

Cost per Home Size

Home SizeMedian Home ValueYoY % Change
1 Bed
  • Affordability
  • Rentals and Section 8
  • N/A
    N/A
    2 Bed
    $320,0002.6%
    3 Bed
    $451,0003.2%
    4 Bed
    $698,0002.5%
    5 Bed $846,0142.9%
    Loading chart...

    % of Housing Stock

    1 Bedroom
    1.5%
    2 Bedrooms
    10.0%
    3 Bedrooms
    43.6%
    4 Bedrooms
    39.8%
    5+ Bedrooms
    5.0%

    Rental Trends — Milford, MI

    As of July '25, Rentcast reports the average rent in Milford, MI is $2,000, with a year-over-year rent change of -37.5%. Per bedroom, the median rent as of July '25 in Milford, MI is 3-bedrooms: $2,000. The most common rental property sizes in Milford, MI are 4-bedroom and studio, accounting for 100.0% and 0.0% of the rental stock.

    TypeMedian RentAverage Rent
    Average Rent$2,000$2,000
    Studio Rent N/AN/A
    1 Bed Rent N/AN/A
    2 Bed Rent N/AN/A
    3 Bed Rent $2,000$2,000
    4 Bed Rent N/AN/A
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    % of Rental Stock

    4 Bedrooms
    100.0%

    Property Listings — Milford, MI

    As of May '26, Realtor.com reports that the median days on market for a home in Milford, MI is 26. This is a decrease of -48.0% 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 42.0%, representing a large inventory and a lot of supply pressure on home prices.

    MetricZip Code AverageYear over Year % Change
    Median Listing Price
    $785,00010.0%
    Listing Count
    19-29.0%
    Listings as % of Homes0.2%-29.0%
    Days on Market
    26-48.0%
    Loading chart...

    Demographics — Milford, MI

    As of the latest ACS Survey released in 2023, Milford, MI has a population of 7,500, which has remained stable by -1.0% over the past 5 years. Milford, MI is a moderately popular place for families, as children make up 22.2% of the population. The area has a highly educated workforce, with 45.8% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.1% reporting working from home.

    MetricLatest CensusYoY % Change
    Population
    7,500-1.0%
    % Under 18
    22.2%14.4%
    % Seniors
    20.7%6.2%
    % WFH
    15.1%67.8%
    % w/ College Degree
    45.8%4.6%
    Loading chart...

    As of the latest ACS Survey released in 2023, Milford, MI is a predominantly white area, with 93.0% of the population identifying as white. The white population has shrunk by 3.4% in the last 5 years. The second most common race or ethnicity in Milford, MI is hispanic, making up 1.8% of the population. Foreign-born residents account for 5.8% of the population in Milford, MI, and this percentage has increased by 65.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

    Race and Ethnicity

    MetricLatest Census5-Year % Change
    % White
    93.0%-3.4%
    % Black
    0.8%-11.1%
    % Hispanic
    1.8%63.6%
    % Asian
    0.8%33.3%
    % Foreign Born
    5.8%65.7%
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    Mortgage and Risk — Milford, MI

    According to HUD data as of 2023, there were 114 mortgage originations in Milford, MI, of which 98.0% of loans were conventional mortgages. The average loan-to-value was 44.0%, with 8.0% above 90% LTV (normal). This implies small mortgage risk in Milford, MI. Investor activity is low, as 1.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

    Mortgages

    MetricZip Code Average
    Total Loan Originations
    114
    % Conventional Loans
    98.0%
    % Government Loans
    2.0%
    % Investor Loans
    1.0%
    % Second Loans
    2.0%
    % Cash Out Refinance
    13.0%
    Loading chart...
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    Rentals and Section 8 — Milford, MI

    Milford, MI 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 SizeHUD PremiumMarket RentMax HUD Rent
    1 BedroomN/AN/A$1,680
    2 BedroomN/AN/A$2,080
    3 Bedroom$640$2,000$2,640
    4 BedroomN/AN/A$2,890

    Affordability — Milford, MI

    Home Price to Income Ratio

    MetricZip Code Average
    Home Price to Income Ratio3.7
    Median Home Price$568,000
    Median Household Income$133,000

    Milford, MI — ZIP Code Boundary Map

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    Nearby ZIP Codes

    Milford, MI

    48381

    Highland, MI

    48357

    Hartland, MI

    48353

    Brighton, MI

    48114

    New Hudson, MI

    48165

    Frequently Asked Questions