Illinois · Census place 49048
Milford village, IL
Quick answer
Milford village has 1,136 residents, ranking #660 of 1462 places in Illinois. Median household income is $45,000, the median home is worth $65,300 and median gross rent runs $714 a month.
- Population
- 1,136Milford village residents
- Median household income
- $45,000Past 12 months, inflation adjusted
- Median home value
- $65,300Owner-occupied units
- Median gross rent
- $714Rent plus utilities, monthly
- Median age
- 40.8 yrsAll residents
- Homeownership rate
- 74.1%Owner-occupied households
What the numbers mean in Milford village
Housing cost measured against local earnings.
A household earning the Milford village median would spend about 19% of gross income on the median rent. The 30% mark is the federal threshold for cost burden, so anything above it signals a stretched rental market. The median home costs 1.5× the median household income; nationally that ratio sits near 4.5×. Poverty affects 25% of residents and 74.1% of households own their home.
Source: US Census Bureau, ACS 2019-2023 5-year estimates · rates as published for 2019-2023 ACS 5-year
Compare with nearby places
Places of similar size in Illinois.
- Forreston village 1,148
- Tower Lakes village 1,148
- Greenfield city 1,137
- Marissa village 1,133
- Mendon village 1,131
- Homer village 1,130
- Bannockburn village 1,125
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