Milford, TX is a small town located in Ellis County with a population of about 1,296. It is known for its low cost of living, making it an attractive destination for families and young professionals alike. The average rent for a two-bedroom apartment in Milford is $1,200 which is significantly lower than the national average of $1,430. In addition to housing costs, the Grocery Cost Index in Milford is also lower than the US at 95 versus 100. Furthermore, there are many local companies that offer goods and services at discounted rates compared to other cities and towns; for example, the Milford Thrift Store offers discounted clothing items while the Gillespie Grocery Store has competitively priced food and produce.
Milford has an unemployment rate of 5.8%. The US average is 6.0%.
Milford has seen the job market increase by 3.3% over the last year. Future job growth over the next ten years is predicted to be 48.7%, which is higher than the US average of 33.5%.
Tax Rates for Milford
- The Sales Tax Rate for Milford is 7.3%. The US average is 7.3%.
- The Income Tax Rate for Milford is 0.0%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Milford
- The average income of a Milford resident is $17,872 a year. The US average is $28,555 a year.
- The Median household income of a Milford resident is $46,250 a year. The US average is $69,021 a year.