Milford, IN is a small town located in 46542 zip code. It is known for its quiet and peaceful atmosphere, and it offers an affordable cost of living. The average two-bedroom rent in Milford is $860, much less than the US average of $1,430. Grocery costs are also lower here than elsewhere, with a grocery cost index of 93 versus 100 in the US.
The businesses that call Milford home include Lakin Tire Midwest Company, Bigham Dairy Farms, Inc., and Wabash Valley Produce LLC. Lakin Tire Midwest is a tire recycling company that provides services to businesses throughout Indiana and the Midwest region. Bigham Dairy Farms brings fresh milk and other dairy products to local stores twice a week from their nearby family farms. And Wabash Valley Produce specializes in providing specialty fruits and vegetables to local supermarkets and restaurants alike. All three of these companies contribute to the economy and help locals stay employed.
Milford (zip 46542) has an unemployment rate of 3.7%. The US average is 6.0%.
Milford (zip 46542) has seen the job market decrease by -6.0% over the last year. Future job growth over the next ten years is predicted to be 36.6%, which is higher than the US average of 33.5%.
Tax Rates for Milford (zip 46542)
- The Sales Tax Rate for Milford (zip 46542) is 7.0%. The US average is 7.3%.
- The Income Tax Rate for Milford (zip 46542) is 4.2%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Milford (zip 46542)
- The average income of a Milford (zip 46542) resident is $27,001 a year. The US average is $37,638 a year.
- The Median household income of a Milford (zip 46542) resident is $74,282 a year. The US average is $69,021 a year.