Milford, MA Cost Of Living
Cost Of Living In Milford, MA Summary
Cost of living in Milford research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Milford is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in Massachusetts, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Milford is 126, with 100 being the average.
The cost of living index in Milford is 1.3x higher than the national average.
Milford ranks as the #31 cheapest in Massachusetts out of 112.
Milford ranks as the #4,776 cheapest out of 6,489 in the US.
The median home value in Milford is $548,597.
The median income in Milford is $88,992.
Table Of Contents
Milford's Overall Cost Of Living
Higher Than The National Average
What is the cost of living in Milford, MA?
According to the most recent data on the cost of living, Milford has an overall cost of living index of 126, which is 1.3x higher than the national index of 100.
Compared to Massachusetts, Milford has a cost of living index that's 0.9x lower than Massachusetts's index of 134.
The standard of living in Milford ranks as #31 most affordable out of the 112 places we measured in Massachusetts. By definition, that implies Milford ranks as the #81 most expensive place in the Bay State.
For more reading on life in Milford, check out:
In Massachusetts
In America
Milford Cost Of Living Vs. Massachusetts
Six factors go into calculating the cost of living index in Milford. Here is how it fairs on each of the criteria:
The Services index in Milford is 115.
The Groceries index in Milford is 101.
The Health index in Milford is 109.
The Housing index in Milford is 165.
The Transportation index in Milford is 92.
The Utilities index in Milford is 113.
| Living Expense | Milford | Massachusetts | National Average | |
|---|---|---|---|---|
| Overall | 126 | 134 | 100 | |
| Services | 115 | 121 | 100 | |
| Groceries | 101 | 106 | 100 | |
| Health | 109 | 112 | 100 | |
| Housing | 165 | 164 | 100 | |
| Transportation | 92 | 120 | 100 | |
| Utilities | 113 | 136 | 100 | |
Milford, MA Housing Cost Breakdown
Housing swings affordability the most between places in Massachusetts, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2019-2023. The key points are:
The Median Home Value in Milford is $548,597.
The Median Rent in Milford is $1,702.
The Median Income in Milford is $88,992.
The Home Value To Income in Milford is 6.2x.
The Rent To Monthly Income in Milford is 0.23x.
| Statistic | Milford | Massachusetts | United States |
|---|---|---|---|
| Median Home Value | $548,597 | $649,115 | $303,400 |
| Median Rent | $1,702 | $1,687 | $1,348 |
| Median Income | $88,992 | $101,341 | $78,538 |
| Home Value To Income | 6.2x | 6.4x | 3.9x |
| Rent To Monthly Income | 0.23x | 0.2x | 0.21x |
Median Home Value
Median Rent
Median Income
Milford, MA Costs By Category
Detailed Milford Services Costs Vs. Massachusetts
| Item | Milford | Massachusetts |
|---|---|---|
| Shampoo | $1.43 | $1.28 |
| Movie | $14.37 | $12.13 |
| Bowling | $22.72 | $18 |
| Haircut | $31.5 | $24.26 |
| Beauty Salon | $49.92 | $45.56 |
Detailed Milford Groceries Costs Vs. Massachusetts
| Item | Milford | Massachusetts |
|---|---|---|
| Ground Beef | $5.85 | $5.84 |
| Fried Chicken | $1.43 | $1.57 |
| Milk | $4.74 | $4.67 |
| Potatoes | $5.0 | $4.93 |
| Pizza | $11.59 | $12.09 |
| Beer | $10.74 | $10.41 |
| Toothpaste | $3.46 | $3.7 |
Detailed Milford Health Costs Vs. Massachusetts
| Item | Milford | Massachusetts |
|---|---|---|
| Optometrist | $104.45 | $125.68 |
| Doctor | $169.83 | $135.78 |
| Dentist | $130.28 | $113.29 |
Detailed Milford Transportation Costs Vs. Massachusetts
| Item | Milford | Massachusetts |
|---|---|---|
| Gasoline | $3.38 | $3.46 |
| Tire Balancing | $48.2 | $59.92 |
Detailed Milford Utilities Costs Vs. Massachusetts
| Item | Milford | Massachusetts |
|---|---|---|
| All Electricity | $230.62 | $193.99 |
| Phone | $195.18 | $192.25 |
Milford SnackAbility
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Cost Of Living In Cities Around Milford
The cost of living varies in the cities and towns around Milford. Here's a quick look at the cost of living in the most populous nearby places:
Woonsocket, RI has a cost of living index of 105, 0.8x Milford.
Needham, MA has a cost of living index of 202, 1.6x Milford.
Norwood, MA has a cost of living index of 153, 1.2x Milford.
| City | Population | Cost Of Living | Vs. Milford |
|---|---|---|---|
| Woonsocket, RI | 43,074 | 105 | 0.8x |
| Needham, MA | 32,059 | 202 | 1.6x |
| Norwood, MA | 31,380 | 153 | 1.2x |
| Wellesley, MA | 29,906 | 243 | 1.9x |
| Dedham, MA | 25,109 | 155 | 1.2x |
| Whitinsville, MA | 7,250 | 122 | 1.0x |
| Northborough, MA | 6,720 | 145 | 1.2x |
| Cochituate, MA | 6,688 | 191 | 1.5x |
| Medfield, MA | 6,355 | 173 | 1.4x |
| Sharon, MA | 6,022 | 154 | 1.2x |
