Cost of Living in Milford, IA
Population 3,315 · Iowa · Data vintage 2023
(100 = US avg)
Milford sits on the smaller end of the Iowa city distribution. That scale shapes the housing market, the labor pool, and the services available to residents in ways the data below makes visible. An unemployment rate of 2.9% points to a labor market well on the tight side of the national distribution.
Geographically, Milford lies roughly 80 miles east of the nearest major metro, Sioux Falls. Median home values run roughly 22% lower than Sioux Falls' $271,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Milford
The median home value in Milford is $211,000 — 31% below the national median of $305,000. Median rent runs $806/month, 39% lower than the national median of $1,314/month. The median household income of $60,571/year is 19% lower than the US median of $74,580. The local unemployment rate is 2.9%, below the national average of 4.8%. Iowa's top state income tax rate is 5.7% and the combined sales tax is 6.9%. The climate averages highs of 57.4°F and lows of 36.2°F. Overall, Milford has a cost of living index of 66 versus the US average of 100, meaning it is 34% less expensive.
Milford has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 26 | 30 | 44 | 59 | 71 | 81 | 85 | 82 | 76 | 61 | 45 | 31 |
| Low °F | 8 | 13 | 25 | 36 | 48 | 59 | 62 | 59 | 50 | 37 | 25 | 14 |
| Precip" | 0.25 | 0.43 | 1.44 | 2.82 | 3.83 | 4.01 | 3.84 | 3.29 | 3.21 | 2.22 | 1.07 | 0.42 |
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Milford, IA?
Milford has a cost index of 66 (100 = national average). It is 34% below the national average.
What is average rent in Milford, IA?
The median gross rent in Milford is $806 per month based on 2023 Census data.
What is the average home price in Milford?
The median home value in Milford is $211,000 according to Zillow and Census data.
What is the median income in Milford?
The median household income in Milford is $60,571 per year (2023 ACS 5-year estimates).
What is the sales tax in Milford, IA?
The combined state and local sales tax rate in Milford is 6.9%. The Iowa state income tax top rate is 5.7%.
Is Milford, IA affordable?
Yes, Milford is generally considered affordable, with a cost of living index of 66 — about 34% below the US national average of 100.
What is the weather like in Milford?
Milford has average high temperatures of 57.4°F and average lows of 36.2°F. Annual precipitation is 26.8". Data from NOAA 1991–2020 Climate Normals.
Milford at a Glance
- Population
- 3,315
- Median Income
- $60,571
- Home Value
- $211,000
- Median Rent
- $806/mo
- Unemployment
- 2.9%
- Avg High Temp
- 57.4°F
- Sales Tax
- 6.9%
Nearby Cities
Explore county-level cost of living data
Iowa Rankings
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