Cost of Living in Milford, IN
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
53.9
100 = national avg
-46.1 vs national average
Living Wage (1 Adult)
$23,715
per year
Living Wage (Family of 4)
$56,053
per year
Cost Index by Category
Housing45.4
Utilities83.6
100 = national average. Higher = more expensive.
The overall cost of living index in Milford is 53.9, which is 46.1% below the national average. Housing costs are below the national average at an index of 45.4. A single adult needs to earn approximately $23,715 per year to cover basic expenses.