Total monthly cost of ownership
Cost to Own a Home in Milford, Indiana
A $135,000 home here costs
$1,156per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $694. The real number is $462 higher every month — 67% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Milford against Kosciusko County and Indiana
| Measure | Milford | Kosciusko County |
|---|---|---|
| Median home value | $135,300 | $200,300 |
| Median property tax | $725 | $1,198 |
| Effective tax rate | 0.536% | 0.598% |
| Median gross rent | $1,038 | $995 |
| Population | 1,955 | 80,357 |
The weather behind that power bill
Milford sits in Kosciusko County, which averages a high of 83.8°F in its hottest month and a low of 16.6°F in its coldest, with 40.54" of precipitation a year and 35% of it in a single three-month stretch. That climate drives 761 cooling and 6,178 heating degree days, which is what sets the $163 electricity line above.
See the full climate breakdown for Kosciusko County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Kosciusko County
Full Kosciusko County cost breakdown · Every county in Indiana
Common questions
How much does it cost to own a home in Milford?
A $135,000 home in Milford, Indiana costs approximately $1,156 per month with 20% down at 6.66%. That is $694 principal and interest, $60 property tax, $58 homeowners insurance, $231 utilities and $113 set aside for maintenance.
What is the property tax rate in Milford?
Milford has an effective property tax rate of 0.536%, based on a median home value of $135,300 and median real estate taxes of $725. That is lower than the Kosciusko County average of 0.598%.
What is the average home price in Milford?
The median owner-occupied home value in Milford, Indiana is $135,300, against $200,300 across Kosciusko County.
Is it cheaper to rent or buy in Milford?
Median gross rent in Milford is $1,038 a month, against $1,156 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Milford — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Indiana.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.