Milford, NJ
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Milford Neighborhoods Since 2000




Milford, NJ Real Estate Data


Milford Housing Market Information

With 1,204 people, 462 houses or apartments, and a median cost of homes of $414,168, real estate costs in Milford are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive New Jersey communities.

Single-family detached homes are the single most common housing type in Milford, accounting for 66.80% of the borough's housing units. Other types of housing that are prevalent in Milford include duplexes, homes converted to apartments or other small apartment buildings ( 16.20%), row houses and other attached homes ( 8.80%), and a few large apartment complexes or high rise apartments ( 8.20%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Milford. Owner-occupied housing accounts for 66.23% of Milford's homes, and 60.00% have either three or four bedrooms, which is average sized relative to America.

Milford Home Appreciation Rates

Homes have actually lost value in Milford over the last then years, as home values have seen a decline of 20.81% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Milford home appreciation rates at 1.43%, which equates to an annual appreciation rate of 5.85%.

Over the last year, Milford appreciation rates have trailed the rest of the nation. In the last twelve months, Milford's appreciation rate has been 2.66%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Milford were at 1.43%, which equates to an annual appreciation rate of 5.85%.

Relative to New Jersey, our data show that Milford's latest annual appreciation rate is lower than 80% of the other cities and towns in New Jersey.

Average Home Values

 

Median Home Value:
$414,168

Milford, NJ HOME PRICES

Value Range
> $1,034,000 1.6
$775,001 - $1,034,000 7.2
$517,001 - $775,000 21.3
$414,001 - $517,000 16.4
$311,001 - $414,000 25.3
$207,001 - $311,000 18.5
$103,001 - $207,000 6.5
$52,001 - $103,000 0.0
$0 - $52,000 3.3

High for NJ
Very High for Nation

Value Relative to Nation Value Relative to State
9.03554488493295 38.8211382113821

Number Of Homes And Apartments:
462

Rent & Ownership

 

Average Market Rent:
$1,505 / per month

Homeownership Rate

Homeownership
Owners 66.23
Renters 33.77
Vacant 7.60

Housing Market Details

 

Age of Homes

AGE OF Milford HOMES
2000 or Newer 3.6
1970 - 1999 32.2
1940 - 1969 32.2
1939 or Older 32.0

Types of Homes

TYPE OF Milford HOMES
Single-Family 66.8
Townhomes 8.8
Small Apt. Buildings 16.2
Apt. Complexes 8.2
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Milford HOMES
No Bedroom 0.80
1 Bedroom 17.20
2 Bedrooms 21.80
3 Bedrooms 43.20
4 Bedrooms 16.80
5 or more bedrooms 0.20

Milford Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NJ*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
23.42% 1.25% 1 2
* 10 is highest