Market Overview
Home Prices in Milford, IL
The median home value in Milford, IL is $116,451 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 3.9% compared to a year ago and up 8.7% from two years prior.
Compared to the U.S. national median of $410,000, homes in Milford are priced72% below average.
Over the past five years, Milford home values have risen by approximately11.0%, reflecting steady appreciation in this market.
Price History
Milford Home Price Trend
2020
$96,030
$96K
—
2021
$104,923
$105K
+9.3%
2022
$109,504
$110K
+4.4%
2023
$103,354
$103K
-5.6%
2024
$103,094
$103K
-0.3%
2025
$112,061
$112K
+8.7%
2026
$116,451
$116K
+3.9%
City Comparison
Milford vs. National Median
🏠 Milford
$116,451
National Median
$410,000
At $116,451, homes in Milford cost 72% 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
$23,290
on $116,451
Monthly P&I
$607/mo
30-yr @ 6.8%
Total Monthly Est.
~$771/mo
incl. taxes & insurance
Income Needed
$30,840
gross annual (30% rule)
10% Down Option
$11,645
+ PMI applies
Loan Amount (20% dn)
$93,161
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, IL?
The median home value in Milford is $116,451 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 3.9% year-over-year.
How much have home prices changed in Milford?
Over the past year, home values in Milford have increased by 3.9%. Over five years, prices have risen approximately 11.0%.
How much do I need to earn to buy a home in Milford?
To comfortably afford the median home price of $116,451 with a 20% down payment ($23,290) at today's rates (6.8%), you'd need a gross annual income of approximately $30,840. 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 $116,451, homes in Milford are 72% below the national average.