Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 1,123, 591 total housing units (homes and apartments), and a median house value of $383,265, Milford real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Milford, accounting for 46.25% of the borough's housing units. Other types of housing that are prevalent in Milford include duplexes, homes converted to apartments or other small apartment buildings ( 34.06%), large apartment complexes or high rise apartments ( 14.38%), and a few row houses and other attached homes ( 3.75%).
The most prevalent building size and type in Milford are three and four bedroom dwellings, chiefly found in single-family detached homes. The borough has a mixture of owners and renters, with 38.64% owning and 61.36% renting.
There is a lot of housing in Milford built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Milford built before 1939 ( 36.41%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.16%). There's also some housing in Milford built between 2000 and later ( 5.00%).
Milford's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Milford during the period has been just 4.74%, which is lower than 80% of US communities.
NeighborhoodScout's data show that during the latest twelve months, Milford's appreciation rate, at 5.46%, has been at or slightly above the national average. In the latest quarter, Milford's appreciation rate has been 2.82%, which annualizes to a rate of 11.77%.
Relative to Pennsylvania, our data show that Milford's latest annual appreciation rate is lower than 60% of the other cities and towns in Pennsylvania.
One very important thing to keep in mind is that these are average appreciation rates for the borough. Individual neighborhoods within Milford differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Milford - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Milford real estate investment or home purchase decisions.
$383,265
for Pennsylvania
for nation
591
$2,617 / per month