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City Report · DE

Milford

Pop. 12,803·6th most expensive in Delaware·Rental market data updated monthly for Milford, DE
Median rent (all units)
$2,021/mo
Year-over-Year
Stable
Month-over-Month
-3.4%
vs US Median
+$59
Falling (Monthly)
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Most AffordableMost Expensive
Milford · $2,021
More expensive than 60% of US cities · National median $1,962/mo
Affordability
41% of income
STRETCHED
0%30% benchmark60%+

At $2,021/mo, rent takes about 41% of the local median household income, well above the 30% benchmark.

Income to afford
$81,000/yr
Local median income
$59,464/yr
Based on the 30%-of-income rule using Milford's median rent and household income. See the full affordability breakdown →
Medians by bedroom

Rent by unit size

Studio
$1,020
1 BR
$1,040
2 BR
$1,350
3 BR
$1,770
4 BR+
$2,090
Fair Market Rent (HUD)
$1,350/mo

These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $2,021 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.

Source: HUD Small Area Fair Market Rents. Read the methodology →

Rent trends

12-month history

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Last updated: August 17, 2026

Annual cost
$24,252/yr
At $2,021/mo median
Rent Market Meter
Strong Renter's Market
Renter's MarketBalancedLandlord's Market
Rents are down 0.0% year-over-year. Push hard on price, concessions, and lease terms.
Based on rent-price momentum (+0.0% YoY, -3.4% MoM), not inventory.
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Demographics

Who lives here

Milford, DE is roughly split between renters and owners, has a large retiree population, has a median income below the national average, 27.6% of residents hold a bachelor's degree or higher.

Population
12,803
Median income
$59,464
Median age
41.9
Renters
48.7%
Age distribution
23%
19.2%
20.4%
14.4%
23%
Under 1823%
18–3419.2%
35–5420.4%
55–6414.4%
65+23%
Gender
43.5%
56.5%
Male43.5%
Female56.5%
Race & ethnicity
54%
19.6%
16.5%
White54%
Black19.6%
Hispanic16.5%
Asian4.6%
Other5.4%
Education (25+)
35.2%
27.3%
27.6%
No HS diploma10%
HS diploma35.2%
Some college27.3%
Bachelor's+27.6%
Housing tenure
51.3%
48.7%
Owner51.3%
Renter48.7%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Milford, DE has changed in 5 years

Income
$47,849 → $59,464
up 24.3%
Population
11,249 → 12,803
up 13.8%
Renter share
50.5% → 48.7%
-1.8 pts
Bachelor's+
29.3% → 27.6%
-1.7 pts

Local incomes tracked alongside that move, going from a median of $47,849 in 2021 to $59,464 more recently. Census counts show Milford, DE adding about 1,554 residents over the five-year window, up 13.8% on net. The renter share has eased from 50.5% to 48.7%, with owner-occupied housing accounting for the remainder.

Community

Discussions about Milford

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View Milford rent history (2015–2026) →
Salary vs rent

Can you afford rent in Milford on your salary?

At $2,021/mo, how Milford rent compares to typical pay (30% rule).

By apartment size

Milford rent by bedroom count

Median rent for each apartment size in Milford. Click any size for full breakdown.

Local insights

Tips for renters in Milford

About renting in Milford, DE

Last updated: August 17, 2026

The median rent in Milford is $2,021/mo as of August 2026. A studio apartment averages $1,020/mo while a 2-bedroom runs $1,350/mo. One-bedroom apartments average $1,040/mo and 3-bedroom units go for $1,770/mo.

At 41% of local median household income ($59,464/yr), Milford ranks as moderate compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

Is Milford an affordable city for renters?

Milford is considered stretched for renters. At $2,021/mo, rent takes approximately 41% of the local median household income ($59,464/yr). The standard benchmark is 30%. Milford significantly exceeds that threshold, making it challenging for many renters.

How much income do you need to rent in Milford?

To keep rent at or below 30% of gross income, you would need to earn at least $81,000/year (~$39/hour full-time) to afford the median rent of $2,021/mo in Milford. The local median household income is $59,464/yr, meaning the typical Milford household falls short of that threshold.

Is rent going up or down in Milford?

Rent in Milford has been relatively stable over the past year, with a 0.0% change year over year as of August 2026.

How does Milford rent compare to other cities in Delaware?

Milford is middle-of-the-pack for Delaware for rent, ranking #6 out of 10 tracked cities at $2,021/mo.

Which nearby cities are cheaper to rent in than Milford?

Several nearby cities have lower median rents than Milford ($2,021/mo): Millville ($1,652/mo), Dover ($1,654/mo), Wildwood ($1,900/mo).

What percentage of Milford residents rent vs. own?

According to Census data, approximately 48.7% of Milford households are renters, while 51.3% are owner-occupied. Milford leans toward homeownership, which can mean a smaller rental inventory.

How does Milford rent compare to the national average?

Milford's median rent of $2,021/mo is $59 (3%) above the US national median of $1,962/mo. Within Delaware, it ranks #6 out of 10 tracked cities.
Income Affordability
41%
STRETCHED

At $2,021/mo, rent takes ~41% of Milford's median household income ($59,464/yr). The standard benchmark is 30%.

Milford 41%Benchmark 30%
State income tax2.2–6.6%
Run the Milford affordability calculator →
Lowest-rent ZIP codes in Milford
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Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Milford, DE

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