Total monthly cost of ownership
Cost to Own a Home in Milford, Pennsylvania
A $361,000 home here costs
$3,026per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,856. The real number is $1,171 higher every month — 63% 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 Pike County and Pennsylvania
| Measure | Milford | Pike County |
|---|---|---|
| Median home value | $361,000 | $250,900 |
| Median property tax | $5,849 | $3,502 |
| Effective tax rate | 1.620% | 1.396% |
| Median gross rent | $1,504 | $1,383 |
| Population | 1,275 | 59,691 |
The weather behind that power bill
Milford sits in Pike County, which averages a high of 77.7°F in its hottest month and a low of 15.1°F in its coldest, with 50.22" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 289 cooling and 7,247 heating degree days, which is what sets the $194 electricity line above.
See the full climate breakdown for Pike County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Pike County
Full Pike County cost breakdown · Every county in Pennsylvania
Common questions
How much does it cost to own a home in Milford?
A $361,000 home in Milford, Pennsylvania costs approximately $3,026 per month with 20% down at 6.66%. That is $1,856 principal and interest, $487 property tax, $121 homeowners insurance, $262 utilities and $301 set aside for maintenance.
What is the property tax rate in Milford?
Milford has an effective property tax rate of 1.620%, based on a median home value of $361,000 and median real estate taxes of $5,849. That is higher than the Pike County average of 1.396%.
What is the average home price in Milford?
The median owner-occupied home value in Milford, Pennsylvania is $361,000, against $250,900 across Pike County.
Is it cheaper to rent or buy in Milford?
Median gross rent in Milford is $1,504 a month, against $3,026 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 Pennsylvania.
- 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.