Milford Mill, Maryland Income Statistics
Milford Mill Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
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B
Milford Mill Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Milford Mill | Maryland Avg | US Average |
|---|---|---|---|
| Median Household Income | $70,509 | $103,916 | $80,455 |
| Median Personal Income | $51,063 | $75,715 | $60,758 |
| Average Yearly Income Growth | 1.1% | 4.0% | 4.8% |
| Six-Figure Earners | 9.8% | 20.7% | 13.9% |
| $200k+ Households | 6.1% | 20.3% | 13.2% |
The median household income in Milford Mill is about 32% lower than in Maryland. Income has been growing slower in Milford Mill (1.1%/yr) than in Maryland (4.0%/yr).
About 10% of adults in Milford Mill earn six figures ($100,000 or more) a year, lower than the Maryland average of 21%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Milford Mill, Maryland grew by 31.2% from 2009 to 2024, reaching $70,509 in 2024. That's an average of about 1.1% per year.
Income Inequality and the Gender Pay Gap in Milford Mill
| Metric | Milford Mill | Maryland Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.499 | 0.534 | 0.552 |
| Male Median Income | $57,319 | $84,327 | $69,667 |
| Female Median Income | $53,625 | $72,201 | $56,850 |
| Gender Pay Gap | 6.4% | 14.4% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Milford Mill, it is 0.499, lower than Maryland's 0.534, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 7% more than women's income in Milford Mill, Maryland. Over a 35-year career, a 7% wage gap accumulates to roughly $129,290 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Milford Mill, Maryland has widened from about -4% to 6% in 2024. Over that period the gap was widest at 10% in 2013, and in 2022 women out-earned men by 11%. In dollar terms, the gap has widened by $5,347 since 2009.
Sharply against the trend: the pay gap in Milford Mill widened by 10.5 points while Maryland's narrowed by 5.1 points.
Employment
| Metric | Milford Mill | Maryland Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 6.7% | 4.8% | 5.2% |
| Working from Home | 12.6% | 19.3% | 15.0% |
| Commute time (minutes) | 31 | 28 | 22 |
Approximately 1,152 people are unemployed in Milford Mill, Maryland.
The average commute time in Milford Mill is 31 minutes, longer than the 28 minutes in Maryland.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Milford Mill, Maryland has fallen from 11.2% to 6.7% in 2024. Over that period the rate peaked at 13.9% in 2013 and fell as low as 3.8% in 2018.
Milford Mill, MD Wealth Compared With Nearby Cities
Milford Mill, MD is typical in size for this group, 30,831 residents against a local median of 35,750, so the measures below are close to a like for like comparison. Milford Mill, MD's income growth, at 1.1%/yr, runs 65% below the 3.1%/yr typical of the cities around it. That is the weaker end of the local range on this measure.
Median household income tells the same story from another angle: $70,509 against a local median of $86,824, 19% below it. Every measure here with a clear better direction points the same way, and it is the wrong way: Milford Mill, MD reads weaker than its neighbours on all of them. The cities themselves spread 1.3%/yr on income growth, so Milford Mill, MD sits at one end of an already wide local range rather than apart from it. Milford Mill, MD has the 5th highest income growth of the 5 areas compared here.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Milford Mill, MD | 30,831 | $70,509 #5/5 | 1.1%/yr #5/5 | 6.7% #5/5 | 0.499 #1/5 |
| Lochearn, MD | 26,493 | $74,424 | 2.8%/yr | 5.8% | 0.544 |
| Woodlawn, MD | 40,959 | $84,232 | 3.4%/yr | 6.2% | 0.528 |
| Randallstown, MD | 32,727 | $89,417 | 2.3%/yr | 6.4% | 0.529 |
| Owings Mills, MD | 38,773 | $95,930 | 3.6%/yr | 5.1% | 0.523 |
Conclusion
Considering all these factors, Milford Mill, Maryland has an overall wealth index grade of B, making it somewhat worse than Maryland, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Milford Mill, Maryland.
How Rich Is Milford Mill, Maryland?
Milford Mill has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $70,509, about 32% lower than the Maryland average of $103,916.
How has median household income changed in Milford Mill, Maryland?
Between 2009 and 2024, the median household income in Milford Mill, Maryland rose 31%, from $53,748 to $70,509. Over the same years, income here lagged behind Maryland as a whole: +31% against +49%.
What was the median household income in Milford Mill in 2023?
In 2023, the median household income in Milford Mill, Maryland was $75,442, up 5% from $72,115 in 2022. The Maryland median that year was $101,974.
What was the median household income in Milford Mill in 2020?
In 2020, the median household income in Milford Mill, Maryland was $66,790. By 2024 it had risen 6% to $70,509.
How strong is the job market in Milford Mill, Maryland?
Unemployment in Milford Mill, Maryland is 6.7%, well above the Maryland rate of 4.8%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Milford Mill, Maryland?
The Gini coefficient in Milford Mill is 0.499. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Milford Mill, Maryland?
Since 2009, the income gap between men and women in Milford Mill, Maryland has widened from about -4% to 6% in 2024. Over that period the gap was widest at 10% in 2013, and in 2022 women out-earned men by 11%. In dollar terms, the gap has widened by $5,347 since 2009.
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