Total monthly cost of ownership
Cost to Own a Home in Milford, Indiana
A $135,000 home here costs
$1,188per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $51,000 a year.
A standard mortgage calculator would have told you $736. The real number is $452 higher every month, 61% more than the payment most buyers budget for.
Compare Kosciusko County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Milford from a five-year rolling sample, and with about 1,955 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Kosciusko County figures are drawn from a far larger sample if you want a steadier number.
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 $153 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
Talk to someone who works this market
These are Milford averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Milford every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Milford I already own here and may sell
Common questions
How much does it cost to own a home in Milford?
A $135,000 home in Milford, Indiana costs approximately $1,188 per month with 20% down at 7.24%. That is $736 principal and interest, $60 property tax, $58 homeowners insurance, $221 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 $1,188 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Milford?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Milford, Indiana at today's rate takes a household income of roughly $51,000 a year. That covers the full $1,188 monthly cost, not just the mortgage payment.
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.