Milford, PA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Milford Neighborhoods Since 2000




Milford, PA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Milford Housing Market Information

With 980 people, 511 houses or apartments, and a median cost of homes of $306,744, Milford real estate is some of the most expensive in Pennsylvania, although Milford home values aren't among America's most expensive.

Single-family detached homes are the single most common housing type in Milford, accounting for 63.97% of the borough's housing units. Other types of housing that are prevalent in Milford include large apartment complexes or high rise apartments ( 18.28%), duplexes, homes converted to apartments or other small apartment buildings ( 16.03%), and a few row houses and other attached homes ( 1.72%).

People in Milford primarily live in small (one, two or no bedroom) single-family detached homes. Milford has a mixture of owner-occupied and renter-occupied housing.

The housing in Milford was primarily built before 1939 ( 48.97%), making the housing stock in Milford some of the oldest overall in America, although there is a range of ages of homes in Milford. The next most important housing age is between 1970-1999 ( 26.72%), followed by between 1940-1969 ( 21.38%). There's also some housing in Milford built between 2000 and later ( 2.93%).

Vacant housing appears to be an issue in Milford. Fully 11.90% of the housing stock is classified as vacant. Left unchecked, vacant Milford homes and apartments can be a drag on the real estate market, holding Milford real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Milford Home Appreciation Rates

Homes have actually lost value in Milford over the last then years, as home values have seen a decline of 20.48% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Milford home appreciation rates at 0.66%, which equates to an annual appreciation rate of 2.68%.

NeighborhoodScout's data show that during the latest twelve months, Milford's appreciation rate, at 3.95%, has been at or slightly above the national average. In the latest quarter, Milford's appreciation rate has been 0.66%, which annualizes to a rate of 2.68%.

Relative to Pennsylvania, our data show that Milford's latest annual appreciation rate is higher than 70% of the other cities and towns in Pennsylvania.

Average Home Values

 

Median Home Value:
$306,744

Milford, PA HOME PRICES

Value Range
> $1,073,000 3.1
$805,001 - $1,073,000 2.7
$536,001 - $805,000 2.3
$429,001 - $536,000 6.2
$322,001 - $429,000 29.0
$215,001 - $322,000 37.5
$107,001 - $215,000 11.6
$54,001 - $107,000 2.3
$0 - $54,000 5.4

Very High for PA
Very High for Nation

Value Relative to Nation Value Relative to State
15.7857728817532 6.85990338164251

Number Of Homes And Apartments:
511

Milford Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
PA*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
32.34% 1.64% 3 4
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,203 / per month

Homeownership Rate

Homeownership
Owners 49.02
Renters 50.98
Vacant 11.90

Housing Market Details

 

Age of Homes

AGE OF Milford HOMES
2000 or Newer 2.9
1970 - 1999 26.7
1940 - 1969 21.4
1939 or Older 49.0

Types of Homes

TYPE OF Milford HOMES
Single-Family 64.0
Townhomes 1.7
Small Apt. Buildings 16.0
Apt. Complexes 18.3
Mobile Homes 0.0
Other 0.0

Home Size

SIZE OF Milford HOMES
No Bedroom 8.45
1 Bedroom 21.21
2 Bedrooms 22.76
3 Bedrooms 30.86
4 Bedrooms 11.55
5 or more bedrooms 5.17