| Index | Milford | Delaware | National |
| Cost of living | 102 | 107 | 100 |
| Groceries | 98 | 99 | 100 |
| Health care | 102 | 100 | 100 |
| Housing | 109 | 123 | 100 |
| Transportation | 99 | 99 | 100 |
| Utilities | 102 | 102 | 100 |
| Lifestyle & Entertainment | 100 | 102 | 100 |
| Household Items | 98 | 100 | 100 |
| Education & Childcare | 96 | 99 | 100 |
The cost of living in Milford affects the quality of life one can afford in this new location. It allows people to assess whether they can maintain their preferred lifestyle, including housing, leisure activities and dining options. Your total monthly expenditures can varry depending on the area, as well as many other factors. The cost of living in Milford is 102, which is 2% higher than the national average. Knowledge of the cost of living can help individuals make informed decisions about retirement savings, investments, and financial goals.
The cost of living in Milford closely mirrors the national average in comparison to other cities nationwide. Essential items such as groceries, houshold expenses, health care and utilities are priced at a level consistent with similar urban areas. This means that residents of Milford can anticipate that their daily expenses will remain reasonably in line with those of an average city, contributing to a manageable cost of living.
The most insightful perspective on a city comes from its residents. We recently surveyed 8 locals to gauge their perception of the cost of living in Milford. The feedback revealed that 63% of respondents found the cost of living to be reasonable, with prices on the decline, while 38% regarded it as notably expensive with prices that continue to rise.
Is Milford an affordable place to live? That's a valid question to ask when you're thinking about moving to a new city. After all, how much it costs to live somewhere can be a huge factor in your decision. Affordability can be broken down into 3 common categories. The cost of living index (we talked about it earlier), housing expenses and income levels all play a big role in figuring out if a place is affordable. For instance, in Milford, the median home price is 11% higher than what most folks pay across the country, and monthly rent prices are 4.1% higher than the usual rates. Income levels in Milford come in at $67,359, which is 17.2% lower than the national average.
Utilities: Similar to the prices of any other goods or services, utility expenditures can exhibit substantial variability, influenced by factors such as climate, energy sources accessibility, geographical location and state regulations. Costs related to electricity, water, heating, and waste disposal can fluctuate, whether higher or lower, contingent on the city or state. In Milford, the utilities index is 2.4% higher than the national average.
Taxes: Cities that enforce higher taxes, covering both sales taxes and income taxes, can be a factor contributing to a higher cost of living. Paying more in taxes for everyday essentials like clothing and food inevitably leads to higher expenses. A higher income tax rate can further contribute to an overall elevated cost of living. In Milford, the baseline sales tax rate begins at 0%, and income tax rates start at 2.2%.
Healthcare: The costs associated with healthcare and insurance premiums can exhibit notable disparities based on the city or state of residence. Access to healthcare facilities, out-of-pocket expenses for medical appointments, dental care charges, prescription medication costs and specialized medical care expenses all contribute to variations in the cost of living. In Milford, healthcare costs are 2.3% higher than the national average.
The cost of living estimates displayed for Milford are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $93,782 | $7,815 | $2,188 | $2,814 |
| Renters | $51,701 | $4,308 | $1,206 | $1,551 |
| State | General Sales Tax | With Max Surtax |
| Delaware | 0% | 0% |
| State | Income Tax (Low) | Income Tax (High) |
| Delaware | 2.2% | 6.6% |
| City | Population | Cost of Living Index | National Avg. |
| Farmington, DE | 190 | 89 | 11.1% |
| Magnolia, DE | 392 | 95 | 4.7% |
| Ellendale, DE | 774 | 96 | 3.9% |
| Woodside, DE | 212 | 98 | 2.4% |
| Greenwood, DE | 1,170 | 99 | 1.4% |
| Milford, DE | 11,721 | 102 | 2.1% |
| City | Population | Cost of Living Index | National Avg. |
| Martinsville, NJ | 11,722 | 164 | 63.7% |
| Stuarts Draft, VA | 11,723 | 105 | 5.2% |
| Woods Cross, UT | 11,717 | 115 | 15.3% |
| Stratford, PE | 11,716 | n/a | |
| Summerfield, NC | 11,715 | 123 | 23.3% |
| Milford, DE | 11,721 | 102 | 2.1% |
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