Cost Of Living in Milford, IA

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13%

Overall NAT. AVG.

9%

Goods & Services NAT. AVG.

23%

Housing NAT. AVG.

Date & Last Updated: This data reflects 2023 and was released from C2ER in January, 2024; this is the most current data available.

The cost of living index is based on a national average of 100. For example, if the cost of living is 90, then it is 10% lower than average. If the cost of living is 110, then it is 10% higher than average. The breakdown for each index is as follows: goods & services (33%), groceries (13%), health care (5%), housing (30%), transportation (9%) and utilities (10%). If the cost of living data was unavailable for this city, estimates based upon nearby cities were used.
Index	Milford	Iowa	National
Cost of living	87	90	100
Goods & Services	91	96	100
Groceries	97	97	100
Health care	103	99	100
Housing	77	73	100
Transportation	91	98	100
Utilities	84	96	100

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Cost Of Living Quick Facts

The cost of living in Milford is 3% lower than the Iowa average
The cost of living in Milford is 13% lower than the national average
Milford housing is 23% lower than the national average
Iowa general sales tax is 18% higher than the national average
Iowa state income tax is 69% higher than the national average

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Price difference in compared to

Cost of living index
Goods & Services index
Groceries index
Health care index
Housing index
Transportation index
Utilities index

Median Income & Debt-To-Income Ratio

Median Income	Per Year	Per Month	Max Budget (28% DTI)	Max Budget (36% DTI)
Owners	$60,000	$5,000	$1,400	$1,800
Renters	$27,417	$2,285	$640	$823

Iowa Sales Tax

State	General Sales Tax	With Max Surtax
Iowa	6%	7%

Iowa Income Tax

State	Income Tax (Low)	Income Tax (High)
Iowa	4.4%	6%

Goods & Services

Item	Milford	National avg.	Difference
Haircut	$24.32	$24.26	0.2%
Beauty Salon	$35.22	$45.56	22.7%
Toothpaste	$3.80	$3.70	2.7%
Shampoo	$1.29	$1.28	0.7%
Movie	$9.36	$12.13	22.9%
Bowling	$16.40	$18.00	8.9%

Groceries

Item	Milford	National avg.	Difference
Ground Beef	$5.89	$5.84	0.8%
Fried Chicken	$1.41	$1.57	10.4%
Milk	$4.75	$4.67	1.7%
Potatoes	$4.63	$4.93	6.2%
Pizza	$10.64	$12.09	12.0%
Beer	$9.33	$10.41	10.4%

Health Care

Item	Milford	National avg.	Difference
Optometrist	$135.10	$125.68	7.5%
Doctor	$177.33	$135.78	30.6%
Dentist	$108.21	$113.29	4.5%
Ibuprofen	$10.48	$10.65	1.7%
Lipitor	$357.08	$468.60	23.8%

Housing

Item	Milford	National avg.	Difference
Home Price	$138,900.00	$184,700.00	24.8%
Avg. Mortgage Payment	$2,133.89	$2,346.69	9.1%
Apartment Rent	$761.00	$949.00	19.8%

Transportation

Item	Milford	National avg.	Difference
Gasoline	$3.28	$3.46	5.3%
Tire Balancing	$49.42	$59.92	17.5%

Utilities

Item	Milford	National avg.	Difference
All Electricity	$141.67	$193.99	27.0%
Phone	$194.04	$192.25	0.9%

Although the cost of living data is updated regularly, this cost of living information is to be used as estimates only as prices can change on an ongoing basis.

Nearby cities with low cost of living

City	Population	Cost of Living Index	National Avg.
Superior, IA	250	81	18.9%
Ruthven, IA	771	81	18.7%
Dickens, IA	206	82	17.9%
Harris, IA	190	79	21.1%
Everly, IA	595	79	20.6%
Milford, IA	3,015	87	12.8%

Cities with similar population

City	Population	Cost of Living Index	National Avg.
Cambrian Park, CA	3,015	288	188.3%
Fiskdale, MA	3,015	119	19.4%
Paloma Creek, TX	3,015	117	17.1%
Fairview CDP, NC	3,016	99	0.6%
Bakerstown, PA	3,016	140	39.7%
Milford, IA	3,015	87	12.8%