Market Overview
Home Prices in Milford, IA
The median home value in Milford, IA is $296,105 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 0.3% compared to a year ago and up 2.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Milford are priced28% below average. Milford is part of the Spirit Lake, IA metro area.
Over the past five years, Milford home values have risen by approximately29.5%, reflecting strong long-term appreciation in this market.
Price History
Milford Home Price Trend
City Comparison
Milford vs. National Median
At $296,105, homes in Milford cost 28% below the national median of $410,000. This makes Milford a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Milford?
20% Down Payment
$59,221
on $296,105
Monthly P&I
$1,544/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,961/mo
incl. taxes & insurance
Income Needed
$78,440
gross annual (30% rule)
10% Down Option
$29,611
+ PMI applies
Loan Amount (20% dn)
$236,884
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Milford, IA?
The median home value in Milford is $296,105 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 0.3% year-over-year.
How much have home prices changed in Milford?
Over the past year, home values in Milford have increased by 0.3%. Over five years, prices have risen approximately 29.5%.
How much do I need to earn to buy a home in Milford?
To comfortably afford the median home price of $296,105 with a 20% down payment ($59,221) at today's rates (6.8%), you'd need a gross annual income of approximately $78,440. This assumes keeping total housing costs at or below 30% of gross income.
How does Milford compare to the national average home price?
The national median home value is approximately $410,000. At $296,105, homes in Milford are 28% below the national average.
What metro area is Milford part of?
Milford is part of the Spirit Lake, IA metropolitan area. Home prices and market conditions can vary across the broader metro region.