Milford, IA housing market
The typical Milford home is worth about $295,000, up 0.8% in a year, 23% above the Iowa typical home. Homes typically sell in 47 days, a little above asking.
Home values, sales, trends and how Milford compares with the towns next door — updated as new data is published.
Milford at a glance
A seller's market
Supply is tight — about 2 months of homes for sale at the current pace. Buyers should expect competition on well-priced homes.
Typical home value, 2016–2026
Show as a table
| January | Milford | Iowa |
|---|---|---|
| 2017 | $185,000 | $147,000 |
| 2018 | $191,000 | $152,000 |
| 2019 | $199,000 | $159,000 |
| 2020 | $212,000 | $167,000 |
| 2021 | $224,000 | $179,000 |
| 2022 | $234,000 | $195,000 |
| 2023 | $263,000 | $211,000 |
| 2024 | $276,000 | $218,000 |
| 2025 | $287,000 | $228,000 |
| 2026 | $289,000 | $236,000 |
| August 2026 | $295,000 | $240,000 |
4 new homes permitted in 2025
Builders were permitted 4 new homes in Milford in 2025, all single-family houses, worth about $1.1 million to build. That's 1.2 per 1,000 residents, slower than across Iowa (4.7). Over the past 10 years, Milford has permitted 155 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Milford gained 423 residents while 182 new homes were permitted: about 2.3 new residents per new home. Building and growth moved roughly in step. Across Iowa: 1.3 new residents per new home.
How Milford ranks on housing keeping up with growth →
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 1 | 1 | 0 | $600,000 |
| 2025 | 4 | 4 | 0 | $1.1 million |
| 2024 | 10 | 10 | 0 | $5.7 million |
| 2023 | 11 | 9 | 2 | $4.4 million |
| 2022 | 12 | 10 | 2 | $5.2 million |
| 2021 | 24 | 20 | 4 | $5.3 million |
| 2020 | 20 | 8 | 12 | $4.8 million |
| 2019 | 18 | 10 | 8 | $5.1 million |
| 2018 | 14 | 8 | 6 | $3.6 million |
| 2017 | 11 | 9 | 2 | $2.8 million |
| 2016 | 31 | 25 | 6 | $5.6 million |
| 2015 | 27 | 23 | 4 | $4.8 million |
| 2014 | 16 | 16 | 0 | $2.9 million |
| 2013 | 20 | 20 | 0 | $3.8 million |
| 2012 | 19 | 19 | 0 | $3.1 million |
| 2011 | 17 | 17 | 0 | $3.1 million |
| 2010 | 9 | 9 | 0 | $1.9 million |
| 2009 | 8 | 8 | 0 | $240,000 |
| 2008 | 11 | 11 | 0 | $1.2 million |
| 2007 | 16 | 16 | 0 | $3.6 million |
| 2006 | 24 | 16 | 8 | $3.6 million |
| 2005 | 22 | 20 | 2 | $3.7 million |
| 2004 | 29 | 29 | 0 | $5.1 million |
| 2003 | 11 | 11 | 0 | $1.7 million |
| 2002 | 19 | 11 | 8 | $2.9 million |
| 2001 | 13 | 13 | 0 | $2 million |
| 2000 | 16 | 14 | 2 | $1.6 million |
How Milford ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Milford and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Milford | $295K | +0.8% | $1,040 | 4 | $63,369 |
| West Okoboji | $815K | +9.8% | $1,040 | 9 | $66,250 |
| Arnolds Park | $460K | +1.7% | $1,060 | 9 | $86,833 |
4.7 years of income
The typical Milford home costs about 4.7 years of the town's median household income, more than across Iowa (3.2 years).
How Milford ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,040
HUD's Fair Market Rent for a two-bedroom in Milford is $1,040 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Milford pay a median of $887, so moving in tends to cost more than staying put. A two-bedroom takes about 20% of the town's median household income.
Studio $790 · 4 bedrooms $1,380
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (51351; Clay County, IA), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center, May 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.