Mortgage payment estimates, closing cost breakdowns, and homebuying data for Milford, Delaware.
Pre-filled with Milford median home price and Delaware tax/insurance rates. Adjust for your property.
Estimated closing costs based on Delaware rates and fees applied to Milford prices.
The median home price in Milford is $275,000, 23% below the Delaware state median of $355,000. With a population of 11,732, Milford is a smaller market where home prices tend to be more accessible than in many parts of Delaware.
Property taxes in Delaware average 0.56% annually. This low property tax rate is a significant advantage for Milford buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Delaware runs approximately $1,300 per year. This is within the normal range nationally.
Average rent in Milford is $1,250/month. The price-to-rent ratio in Milford is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Milford presents moderate affordability. The $275K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.