Total monthly cost of ownership
Cost to Own a Home in Milford, Utah
A $244,000 home here costs
$1,755per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,254. The real number is $500 higher every month — 40% 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 Beaver County and Utah
| Measure | Milford | Beaver County |
|---|---|---|
| Median home value | $243,500 | $287,600 |
| Median property tax | $911 | $1,121 |
| Effective tax rate | 0.374% | 0.390% |
| Median gross rent | $872 | $1,034 |
| Population | 1,400 | 7,172 |
The weather behind that power bill
Milford sits in Beaver County, which averages a high of 95.0°F in its hottest month and a low of 16.8°F in its coldest, with 8.67" of precipitation a year and 31% of it in a single three-month stretch. That climate drives 976 cooling and 5,813 heating degree days, which is what sets the $117 electricity line above.
See the full climate breakdown for Beaver County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Beaver County
Common questions
How much does it cost to own a home in Milford?
A $244,000 home in Milford, Utah costs approximately $1,755 per month with 20% down at 6.66%. That is $1,254 principal and interest, $76 property tax, $37 homeowners insurance, $185 utilities and $203 set aside for maintenance.
What is the property tax rate in Milford?
Milford has an effective property tax rate of 0.374%, based on a median home value of $243,500 and median real estate taxes of $911. That is lower than the Beaver County average of 0.390%.
What is the average home price in Milford?
The median owner-occupied home value in Milford, Utah is $243,500, against $287,600 across Beaver County.
Is it cheaper to rent or buy in Milford?
Median gross rent in Milford is $872 a month, against $1,755 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 Utah.
- 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.