| Index | Milford | Massachusetts | National |
| Cost of living | 128 | 131 | 100 |
| Groceries | 109 | 109 | 100 |
| Health care | 115 | 116 | 100 |
| Housing | 164 | 169 | 100 |
| Transportation | 114 | 115 | 100 |
| Utilities | 118 | 117 | 100 |
| Lifestyle & Entertainment | 111 | 115 | 100 |
| Household Items | 108 | 109 | 100 |
| Education & Childcare | 121 | 127 | 100 |
Understanding the cost of living in Milford can help future residents assess whether their current financial situation aligns with the expenses they will encounter. It enables them to plan for potential changes in their budget and lifestyle. The Milford cost of living index is 128, which is 28% higher than the national average. The cost of living index is calculated by taking into account multiple categories, which encompass both the cost of everyday expenditures and larger expenses as well.
If you're in pursuit of an economical living environment, Milford may not fit the bill, as it ranks among the most expensive places to reside in the United States. Just a minority of regions exhibit a cost of living that is more than 20% higher than the national average, and, unfortunately, Milford falls within this bracket.
Housing costs significantly influence the Milford cost of living index, typically accounting for a substantial portion of one's post-tax income. Regrettably, within this particular region, expenses related to both residential ownership and renting exceeded those observed in an average city by 64.4%. This entails elements such as housing and rental prices, mortgage interest rates and insurance costs.
Is Milford affordable? This is a pivotal question, especially when mulling over a move, as affordability carries substantial weight in your decision-making process. Factors such as the cost of living index (discussed earlier), housing expenses and income levels all contribute to a location's affordability. For instance, in Milford, the median home price is 77.2% higher than the national average and monthly rent prices are 34.6% higher than the typical rates. Additionally, the median income levels play a role in affordability, with Milford boasting a median household income of $126,456, 55.5% higher than the national average.
Taxes: Locations with elevated tax rates, encompassing both sales and income taxes, can be a factor in driving up the cost of living. When you're paying more in taxes for everyday household expenses, it naturally translates into higher expenses. Similarly, a higher income tax rate can also contribute to an overall higher cost of living. In Milford, the standard sales tax rate starts at 6.25%, and the income tax rates commence at 5%.
Utilities: As with the prices of anything else, utility costs can exhibit significant variations, contingent on factors like climate, energy source availability, geographic location and state regulations. The expenses associated with electricity, water, heating, and waste disposal can fluctuate, either upward or downward, depending on the particular city or state. In Milford, the utilities index registers 17.6% higher than the national average.
Groceries: Grocery costs have continued to increase significantly over the last 2-3 years. In some markets the cost of food has gone up by more than 20% in that period. While other markets have managed to see only a moderate uptick. These food costs can have a major impact on the cost of living in any area. In Milford, the groceries index is 9.1% higher than the national average.
The Milford cost of living data displayed above uses a U.S. average baseline of 100 to provide a practical way to compare living expenses across cities. Housing estimates incorporate U.S. Census home price and rental data, while all other values are generated using AI-assisted models based on everyday expense expectations, regional pricing trends, climate, transportation patterns, and local economic conditions. These values are designed for directional city-to-city comparisons.
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| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $147,027 | $12,252 | $3,430 | $4,411 |
| Renters | $71,427 | $5,952 | $1,667 | $2,143 |
| State | General Sales Tax | With Max Surtax |
| Massachusetts | 6.25% | 6.25% |
| State | Income Tax (Low) | Income Tax (High) |
| Massachusetts | 5% | 9% |
| City | Population | Cost of Living Index | National Avg. |
| Woonsocket, RI | 42,718 | 105 | 4.7% |
| Pascoag, RI | 5,074 | 109 | 9.1% |
| Harrisville, RI | 1,316 | 112 | 11.6% |
| Worcester, MA | 189,035 | 120 | 20.3% |
| Cumberland Hill, RI | 8,752 | 116 | 15.7% |
| Milford, MA | 26,685 | 128 | 28.5% |
| City | Population | Cost of Living Index | National Avg. |
| Brawley, CA | 26,691 | 112 | 12.0% |
| Madison, MS | 26,675 | 111 | 11.4% |
| Mauldin, SC | 26,699 | 100 | 0.4% |
| Owatonna, MN | 26,702 | 98 | 2.5% |
| Medina, OH | 26,667 | 96 | 4.4% |
| Milford, MA | 26,685 | 128 | 28.5% |
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