Average Rent in Milford, CT↑ Rents rising 7.5% YoY

Milford, CT has rental prices ranging from $1,299/month to $3,182/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $1,569/month — 12% above the national average of $1,400/month. With a median household income of $86,266/year, spending $1,569/month on a 1-bedroom represents 22% of gross income — within the recommended 30% threshold.

How Milford Compares

With an average 2-bedroom rent of $1,895/month, Milford ranks #4 most expensive of the 13 cities tracked in Connecticut — pricier than 97% of all US cities in our data.

The Milford Rental Market

The Milford, CT area has a population of about 566,803 and 39% of households renting rather than owning. That renter share runs above the US average of ~34%, pointing to a competitive rental market where vacancies clear quickly and rents are less negotiable.

Rent Trends

2-bedroom rents in Milford, CT have risen by $133/month (7.5%) over the past year, from $1,762 to $1,895. This modest growth is consistent with broader inflationary trends seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Milford, CT without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $62,760. The local median household income of $86,266 exceeds that threshold by $23,506, making Milford relatively accessible compared to local wages.

Rent vs. Buy

The median home value in Milford, CT is $510,846, giving a price-to-rent ratio of 22.5. With a break-even horizon of approximately 22 years, renting is likely the more financially prudent option for most residents unless they plan to stay long-term.

Is Milford, CT Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Rent or Buy in Milford?

Break-even analysis and mortgage estimates based on local market data.

Living in Milford

Cost of living, job market, crime rates, and moving cost estimates.