Cost of Living in Milford, IA
Cost indexes, living wages, and fair market rents — 2024 Data
Cost of Living Overview
Overall Index
95.0
100 = national avg
-5.0 vs national average
Living Wage (1 Adult)
$41,800
per year
Living Wage (Family of 4)
$98,799
per year
Cost Index by Category
Housing98.2
Food96.3
Transportation85.7
Healthcare97.0
Utilities97.4
100 = national average. Higher = more expensive.
Fair Market Rent
Source: HUD1 Bedroom
$831
per month
2 Bedroom
$1,091
per month
The overall cost of living index in Milford is 95.0, which is 5.0% below the national average. Housing costs are below the national average at an index of 98.2. A single adult needs to earn approximately $41,800 per year to cover basic expenses.