Cost of Living in Milford, MA

With a cost of living index of 123, Milford, MA is a notably expensive place to live. Living here is 23% more expensive than the national average and 6% below the Massachusetts state average of 129. With a population of 27,919, Milford is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Milford's cost of living. The median monthly rent is $1,702 (29% above the US median of $1,319), and the median home value sits at $429,800 (41% above the national median of $304,900). At current prices, the median home costs roughly 4.8x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Milford is $88,992, which is 18% higher than the national median of $75,149. Residents spend roughly 23% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. While incomes are above average, they do not fully offset the higher cost of living.

Climate is another factor for anyone considering a move to Milford. The area sees an average annual temperature of 52°F, with summers averaging 72°F and winters around 32°F. Annual rainfall totals 43.9 inches spread over roughly 135 days.

Everyday prices in the Worcester, MA (Metropolitan Statistical Area) metro area are generally below the national average. Out of 6 common items tracked by the Bureau of Labor Statistics, 5 are priced lower than the US average. These real-world prices — from groceries to electricity — add up and should be factored into any cost of living comparison.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.