F
Overall 26%
Goods & Services 29%
Housing 36%
Date & Last Updated: This data reflects 2020 and was released from C2ER in January, 2021; 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.
IndexMilfordMassachusettsNational
Cost of living126131100
Goods & Services129121100
Groceries111110100
Health care120123100
Housing136165100
Transportation114108100
Utilities120115100

Key findings

  • The cost of living in Milford is 4% lower than the Massachusetts average
  • The cost of living in Milford is 26% higher than the national average
  • Milford housing is 36% higher than the national average
  • Massachusetts general sales tax is 23% higher than the national average
  • Massachusetts state income tax is 103% higher than the national average

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Compare Milford, MA Cost of Living

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      Housing index
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      Median Income & Debt-To-Income Ratio

      Median IncomePer YearPer MonthMax Budget (28% DTI)Max Budget (36% DTI)
      Owners$92,332$7,694$2,154$2,770
      Renters$45,176$3,765$1,054$1,355
      The percent of monthly income spent on housing can be a good indicator of the affordability of housing in Milford, MA, as well as the overall cost of living. As a general rule of thumb, the debt-to-income ratio (DTI) for homeowners or renters should be not more than 28 percent of gross income to be spent on housing related costs and not more than 36 percent of income on all expenses, including debts. The median income for Milford homeowners, is $92,332. This would allow for a maximum of $2,154 per month to be spent on housing costs. For renters, the median monthly income is $45,176 which would result in a maximum of $1,054 to be spent on rental costs.

      Massachusetts Sales Tax

      StateGeneral Sales TaxWith Max Surtax
      Massachusetts6.25%6.25%

      Massachusetts Income Tax

      StateIncome Tax (Low)Income Tax (High)
      Massachusetts5%5%

      Goods & Services

      ItemMilfordNational avg.Difference
      Haircut $16.68$18.6210.4%
      Beauty Salon $50.37$39.0529.0%
      Toothpaste $2.75$2.3417.5%
      Shampoo $1.02$1.063.9%
      Movie $12.55$10.6817.5%
      Bowling $5.61$14.6761.8%

      Groceries

      ItemMilfordNational avg.Difference
      Ground Beef $3.34$4.2220.9%
      Fried Chicken $1.71$1.3923.2%
      Milk $2.49$2.0521.7%
      Potatoes $3.30$3.290.3%
      Pizza $11.30$10.626.4%
      Beer $9.60$9.382.4%

      Health Care

      ItemMilfordNational avg.Difference
      Optometrist $136.98$108.5726.2%
      Doctor $151.91$116.1730.8%
      Dentist $110.63$99.1311.6%
      Ibuprofen $9.27$9.684.2%
      Lipitor $409.74$466.9212.2%

      Housing

      ItemMilfordNational avg.Difference
      Home Price $273,100.00$184,700.0047.9%
      Avg. Mortgage Payment $2,350.45$1,197.4296.3%
      Apartment Rent $1,021.00$949.007.6%

      Transportation

      ItemMilfordNational avg.Difference
      Gasoline $2.42$2.229.0%
      Tire Balancing $59.24$50.0718.3%

      Utilities

      ItemMilfordNational avg.Difference
      All Electricity$217.29$167.6729.6%
      Phone $31.08$175.6482.3%
      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, StatePopulationCost of Living IndexNational Avg.
      Woonsocket, RI41,2721077%
      Harrisville, RI1,6291088%
      Pascoag, RI4,91511212%
      Worcester, MA183,67711818%
      Cumberland Hill, RI8,01411818%
      Milford, MA25,70112626%

      Cities with similar population

      City, StatePopulationCost of Living IndexNational Avg.
      Laurel, MD25,70312121%
      Burlington, MA25,69815151%
      Zionsville, IN25,70911717%
      Green, OH25,71397-3%
      Summerlin South, NV25,71712727%
      Milford, MA25,70112626%
      Source: The Milford, MA cost of living data displayed above is derived from the Council for Community and Economic Research (C2ER) for 2020.