Milford is a small town of 3,295 in Iowa, with a median household income of $59,059
and a 3.4% unemployment rate.
Its cost of living index is 92 (US average = 100), which is
8% below the national average.
Strengths:
Milford stands out for an affordable cost of living, below-average home prices, solid school ratings (B+), short average commutes.
Trade-offs:
No major red flags stand out in the available data. Whether Milford is right for you depends on your priorities — the full breakdown is below.
All Milford city data on this page comes from official government sources —
the US Census Bureau, FBI, NCES, BEA, and NOAA — updated annually.
Cost of Living
Index: 91.8
Milford's overall cost of living index is 91.8,
where 100 represents the US national average.
Living in Milford costs roughly 8% less than the average American city.
Metric
Milford, IA
National Avg
Median Home Value
$202,000
$244,900
Median Monthly Rent
$786
$1,163
Homeownership Rate
74.0%
65.9%
Median Household Income
$59,059
$74,755
Crime & Safety
Very Safe
Milford's violent crime rate is 110.1 per 100,000 residents
— 71% lower than the national average of ~380 per 100,000.
Violent Crime
110.1 /100k
Property Crime
446.2 /100k
Vertical marker = national average. Source: FBI UCR Program.
Schools & Education
Milford is served primarily by Okoboji Comm School District.
The student-to-teacher ratio is 13.0:1
(better than the national average of ~16:1).
Metric
Milford, IA
National Avg
School District
Okoboji Comm School District
—
Elementary Schools
1
—
Middle Schools
1
—
High Schools
1
—
Student/Teacher Ratio
13.0:1
16:1
Bachelor's Degree or Higher
26.5%
35.4%
High School Diploma or Higher
95.0%
91.1%
Weather & Climate
Milford sees average highs of 24.4°F in January
and 82.6°F in July,
with 29.5 inches of annual precipitation
and 38.0 inches of snow per year.
Milford's cost of living index is 92, where 100 is the national average.
That makes Milford roughly 8% less expensive than a typical US city — a meaningful affordability advantage.
The median home price is $202,000 and median rent is $786/month.
Milford's violent crime rate is 110.1 per 100,000 residents — the national average is ~380 per 100,000. Property crime is 446.2 per 100,000 (national avg ~2,100). Data from the FBI Uniform Crime Reporting Program.
Public schools in Milford are operated by Okoboji Comm School District.
The district has 1 elementary, 1 middle, and 1 high schools.
The student-to-teacher ratio is 13.0:1. 26.5% of adults 25+ hold a bachelor's degree or higher.
Milford, IA has a population of 3,295, a median household income of $59,059, and an unemployment rate of 3.4%.
It offers below-average costs of living, which stretches take-home pay further than in most American cities. Whether it's right for you depends on your priorities — use the compare tool above to stack it against another city you're considering.
Milford averages 24.4°F in January and 82.6°F in July. Annual rainfall is 29.5 inches
with about 38.0 inches of snow per year.
Based on NOAA 30-year climate normals (1991–2020).
Milford, IA is covered by 1 ZIP code: 51351.
The population of Milford, Iowa is 3,295 with a median age of 44.0. Source: US Census ACS 5-Year Estimates.
Key numbers for living in Milford: cost of living index 92 (100 = US average), median home $202,000, median household income $59,059, crime index 26 (100 = US average, lower is safer), schools rated B+. Whether these are benefits or drawbacks depends on where you're coming from — compare Milford side by side with your current city to see the trade-offs.
