Milford, MI is a small town located in the Oakland County. It has a population of around 48381 people and is a great option for anyone looking for an affordable place to live. The average 2 bedroom rent in Milford is $1,390 which is significantly lower than the U.S. average of $1,430. Grocery Cost Index in Milford is 101 versus 100 in the US, making it an affordable place to live and eat. For entertainment, residents can enjoy activities such as boating on Kent Lake or bicycling at Kensington Metropark. Shopping opportunities include stores like Kroger Marketplace, Kohl's and Tractor Supply Company. There are also several local restaurants such as San Francisco Oven and Barleycorn Grille & Pub for dining out options.
Milford (zip 48381) has an unemployment rate of 3.5%. The US average is 6.0%.
Milford (zip 48381) has seen the job market decrease by -10.6% over the last year. Future job growth over the next ten years is predicted to be 38.0%, which is higher than the US average of 33.5%.
Tax Rates for Milford (zip 48381)
- The Sales Tax Rate for Milford (zip 48381) is 6.0%. The US average is 7.3%.
- The Income Tax Rate for Milford (zip 48381) is 4.3%. The US average is 4.6%.
- Tax Rates can have a big impact when Comparing Cost of Living.
Income and Salaries for Milford (zip 48381)
- The average income of a Milford (zip 48381) resident is $50,210 a year. The US average is $37,638 a year.
- The Median household income of a Milford (zip 48381) resident is $90,273 a year. The US average is $69,021 a year.