Total monthly cost of ownership
Cost to Own a Home in Milford, Texas
A $145,000 home here costs
$1,291per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $745. The real number is $545 higher every month — 73% 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 Ellis County and Texas
| Measure | Milford | Ellis County |
|---|---|---|
| Median home value | $145,000 | $306,400 |
| Median property tax | $1,352 | $4,472 |
| Effective tax rate | 0.932% | 1.460% |
| Median gross rent | $933 | $1,449 |
| Population | 1,033 | 203,927 |
The weather behind that power bill
Milford sits in Ellis County, which averages a high of 95.3°F in its hottest month and a low of 33.9°F in its coldest, with 40.8" of precipitation a year and 29% of it in a single three-month stretch. That climate drives 2,543 cooling and 2,431 heating degree days, which is what sets the $148 electricity line above.
See the full climate breakdown for Ellis County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Ellis County
Common questions
How much does it cost to own a home in Milford?
A $145,000 home in Milford, Texas costs approximately $1,291 per month with 20% down at 6.66%. That is $745 principal and interest, $113 property tax, $96 homeowners insurance, $216 utilities and $121 set aside for maintenance.
What is the property tax rate in Milford?
Milford has an effective property tax rate of 0.932%, based on a median home value of $145,000 and median real estate taxes of $1,352. That is lower than the Ellis County average of 1.460%.
What is the average home price in Milford?
The median owner-occupied home value in Milford, Texas is $145,000, against $306,400 across Ellis County.
Is it cheaper to rent or buy in Milford?
Median gross rent in Milford is $933 a month, against $1,291 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 Texas.
- 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.