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 New Hampshire, 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 110, with 100 being the average.
The cost of living index in Milford is 1.1x higher than the national average.
Milford ranks as the #12 cheapest in New Hampshire out of 25.
Milford ranks as the #4,128 cheapest out of 6,412 in the US.
The median home value in Milford is $256,000.
The median income in Milford is $71,610.
According to the most recent data on the cost of living, Milford has an overall cost of living index of 110, which is 1.1x higher than the national index of 100.
Compared to New Hampshire, Milford has a cost of living index that's 1.0x lower than New Hampshire's index of 114.
The standard of living in Milford ranks as #12 most affordable out of the 25 places we measured in New Hampshire. By definition, that implies Milford ranks as the #13 most expensive place in the Granite State.
For more reading on life in Milford, check out:
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 111.
The Groceries index in Milford is 97.
The Health index in Milford is 115.
The Housing index in Milford is 117.
The Transportation index in Milford is 93.
The Utilities index in Milford is 113.
|Living Expense||Milford||New Hampshire||National Average|
Housing swings affordability the most between places in New Hampshire, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Milford is $256,000.
The Median Rent in Milford is $1,269.
The Median Income in Milford is $71,610.
The Home Value To Income in Milford is 3.6x.
The Rent To Monthly Income in Milford is 0.21x.
|Statistic||Milford||New Hampshire||United States|
|Median Home Value||$256,000||$288,700||$244,900|
|Home Value To Income||3.6x||3.5x||3.5x|
|Rent To Monthly Income||0.21x||0.17x||0.2x|
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:
Manchester, NH has a cost of living index of 108, 1.0x Milford.
Nashua, NH has a cost of living index of 113, 1.0x Milford.
Fitchburg, MA has a cost of living index of 109, 1.0x Milford.