Milford Mill, Maryland Housing Market Prices
Milford Mill Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 26% above the Maryland median$335,900
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Median rent 3% below the Maryland median$1,653
Housing Market Overview
| Metric | Milford Mill | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $335,900 | $267,101 | $248,835 |
| Price Trend (Annual %) | 15.8% | 3.4% | 7.5% |
| Median Gross Rent | $1,653 | $1,704 | $1,407 |
| Rent Trend (Annual %) | 3.9% | 3.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Milford Mill is about 26% higher than in Maryland. Rent is about 3% lower than the Maryland average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Milford Mill, up about 15.8% and 3.9% a year respectively. Home prices are changing faster.
Median rent in Milford Mill rose about 37.4% between 2015 and 2024, from $1,203 to $1,653. Over the same span, rent in Maryland rose about 38.7%.
Affordability
On average, housing unit costs 4.8 yearly household incomes in Milford Mill.
Buying the median-priced home in Milford Mill costs roughly 16.9 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Milford Mill. The price-to-rent ratio in Maryland is about 13.1.
| Metric | Milford Mill | Maryland Avg | US Average |
|---|---|---|---|
| Median Home Price | $335,900 | $267,101 | $248,835 |
| Median Household Income | $70,509 | $103,916 | $80,455 |
| Price-to-Income Ratio | 4.8 | 2.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Milford Mill rose about 288.9%, while median household income rose about 29.3% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Milford Mill | Maryland Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 43.7% | 62.4% | 58.5% |
| Rental Rate | 50.5% | 29.9% | 31.2% |
| Vacancy Rate | 5.9% | 7.7% | 10.2% |
| Median Tenure (years) | 13.0 | 15.0 | 15.0 |
| Median Year Moved In | 2013 | 2011 | 2011 |
Milford Mill has a homeownership rate of 43.7%, lower than the Maryland average of 62.4%. Its housing vacancy rate is 5.9%, compared with 7.7% in Maryland.
Housing Stock
| Metric | Milford Mill | Maryland Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.59 people | 2.57 people | 2.53 people |
| Median Structure Built Year | 1973 | 1977 | 1978 |
| Median Number of Rooms | 5.4 | 6.2 | 5.5 |
The typical housing unit in Milford Mill was built around 1973. On average, 2.6 people live in a home with about 5.4 rooms, staying for about 13.0 years on average.
Milford Mill, MD Housing Compared With Nearby Cities
How Milford Mill, MD compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Milford Mill, MD | 30,831 | $335,900 #1/2 | $1,653 #2/2 | 46.4% #2/2 |
| Owings Mills, MD | 38,773 | $326,093 | $1,830 | 51.6% |
Frequently Asked Questions
Common questions about the housing market in Milford Mill, Maryland.
What is the median home price in Milford Mill, Maryland?
The median home price in Milford Mill, Maryland is $335,900, higher than the Maryland average of $267,101.
What is the average home price in Milford Mill, Maryland?
The typical home price in Milford Mill, Maryland, reported as the median sale price, is $335,900. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Milford Mill, Maryland?
The median gross rent in Milford Mill, Maryland is $1,653 per month, lower than the Maryland average of $1,704.
What was the median gross rent in Milford Mill in 2020?
In 2020, the median gross rent in Milford Mill, Maryland was $1,378 per month.
What is the price-to-rent ratio in Milford Mill, Maryland?
The price-to-rent ratio in Milford Mill, Maryland is about 16.9, meaning it would take roughly 16.9 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Milford Mill.
Are home prices or rent rising faster in Milford Mill, Maryland?
Both home prices and rent are rising in Milford Mill, up about 15.8% and 3.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Milford Mill, Maryland?
43.7% of households in Milford Mill, Maryland own their home, lower than the Maryland average of 62.4%.
What is the vacancy rate in Milford Mill, Maryland?
The housing vacancy rate in Milford Mill, Maryland is 5.9%, lower than the Maryland average of 7.7%.
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