Cost of Living in Milford, NH

With a cost of living index of 107, Milford, NH is somewhat more expensive than average. Living here is 7% more expensive than the national average and 5% above the New Hampshire state average of 102. Milford is a smaller community of 8,857 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Milford's cost of living. The median monthly rent is $1,388 (5% above the US median of $1,319), and the median home value sits at $337,900 (11% above the national median of $304,900). At current prices, the median home costs roughly 4.2x the median household income — a moderately affordable ratio by today's standards.

The median household income in Milford is $81,042, which is 8% higher than the national median of $75,149. Residents spend roughly 21% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Climate is another factor for anyone considering a move to Milford. The area sees an average annual temperature of 50.1°F, with summers averaging 71°F and winters around 28°F. Annual rainfall totals 40.4 inches spread over roughly 130 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Everyday prices in the Manchester-Nashua, NH (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.