Milford, NE vs Waterloo, NE

Milford is moderately more affordable than Waterloo, with a 8% lower cost of living index. Milford scores 78 compared to 84 for Waterloo, where the US average is 100. This difference means residents of Waterloo can expect to pay noticeably more for everyday expenses, housing, and services.

On the housing front, median rent in Milford is $892/month compared to $1,125/month in Waterloo — a 21% difference. Interestingly, home values tell a different story: while Milford has cheaper rent, Waterloo actually has lower median home values ($218,400 vs $225,200).

Median household income in Milford is $80,997 compared to $75,417 in Waterloo (+7.4%). Milford offers a double advantage: higher earnings combined with a lower cost of living, giving residents significantly more purchasing power. Looking at affordability, residents of Milford spend roughly 13.2% of their income on rent, less than the 17.9% in Waterloo.

Climate-wise, both cities share similar average temperatures (51.5°F vs 52.4°F). Waterloo receives more rainfall at 31.9" per year compared to 29.5" in Milford.