Milford, MA Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

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 125, with 100 being the average.

  • The cost of living index in Milford is 1.2x higher than the national average.

  • Milford ranks as the #39 cheapest in Massachusetts out of 113.

  • Milford ranks as the #5,043 cheapest out of 6,412 in the US.

  • The median home value in Milford is $340,700.

  • The median income in Milford is $85,291.

Table Of Contents

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
125
Milford's Overall Cost Of Living
1.2x
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 125, which is 1.2x 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 143.

The standard of living in Milford ranks as #39 most affordable out of the 113 places we measured in Massachusetts. By definition, that implies Milford ranks as the #74 most expensive place in the Bay State.

For more reading on life in Milford, check out:

39 out of 113
In Massachusetts
5,043 out of 6,412
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 127.

  • The Groceries index in Milford is 110.

  • The Health index in Milford is 119.

  • The Housing index in Milford is 137.

  • The Transportation index in Milford is 114.

  • The Utilities index in Milford is 121.

Living Expense Milford Massachusetts National Average
Overall 125 143 100
Services 127 126 100
Groceries 110 108 100
Health 119 117 100
Housing 137 202 100
Transportation 114 114 100
Utilities 121 123 100
For more reading on cost of living around Massachusetts, check out:
Milford Cost of Living Vs. MA

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 2017-2021. The key points are:

  • The Median Home Value in Milford is $340,700.

  • The Median Rent in Milford is $1,458.

  • The Median Income in Milford is $85,291.

  • The Home Value To Income in Milford is 4.0x.

  • The Rent To Monthly Income in Milford is 0.21x.

Statistic Milford Massachusetts United States
Median Home Value $340,700 $424,700 $244,900
Median Rent $1,458 $1,429 $1,163
Median Income $85,291 $89,026 $69,021
Home Value To Income 4.0x 4.8x 3.5x
Rent To Monthly Income 0.21x 0.19x 0.2x
Search Homes For Sale In Milford, MA
$340,700
Median Home Value
$1,458
Median Rent
$85,291
Median Income

Milford, MA Costs By Category

Detailed Milford Services Costs Vs. Massachusetts

Item Milford Massachusetts
Shampoo $1.02 $1.06
Movie $12.55 $10.68
Bowling $5.61 $14.67
Haircut $16.68 $18.62
Beauty Salon $50.37 $39.05

Detailed Milford Groceries Costs Vs. Massachusetts

Item Milford Massachusetts
Ground Beef $3.34 $4.22
Fried Chicken $1.71 $1.39
Milk $2.49 $2.05
Potatoes $3.3 $3.29
Pizza $11.3 $10.62
Beer $9.6 $9.38
Toothpaste $2.75 $2.34

Detailed Milford Health Costs Vs. Massachusetts

Item Milford Massachusetts
Optometrist $136.98 $108.57
Doctor $151.91 $116.17
Dentist $110.63 $99.13

Detailed Milford Transportation Costs Vs. Massachusetts

Item Milford Massachusetts
Gasoline $2.42 $2.22
Tire Balancing $59.24 $50.07

Detailed Milford Utilities Costs Vs. Massachusetts

Item Milford Massachusetts
All Electricity $217.29 $167.67
Phone $31.08 $175.64

Milford SnackAbility

7
/10
Overall SnackAbility
Jobs
8/10
Housing
8.5
Affordability
6
Diversity
8.5
Safety
8.5
Amenities
9
Education
8
Commute
5

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 108, 0.9x Milford.

  • Needham, MA has a cost of living index of 180, 1.4x Milford.

  • Norwood, MA has a cost of living index of 143, 1.1x Milford.

City Population Cost Of Living Vs. Milford
Woonsocket, RI 43,044 108 0.9x
Needham, MA 31,808 180 1.4x
Norwood, MA 31,256 143 1.1x
Wellesley, MA 29,365 216 1.7x
Dedham, MA 25,308 141 1.1x
Whitinsville, MA 7,329 123 1.0x
Cochituate, MA 6,966 178 1.4x
Northborough, MA 6,767 137 1.1x
Medfield, MA 6,317 157 1.3x
Walpole, MA 6,188 143 1.1x

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