Quick facts: Milford, NE

Quick Facts

94.7
Cost of Living
below US average
2,206
Population
4.08
Crime Rate per 1000
below US average
$77,422
Median Income
below US average
$82,000
Median House Price
above US average
$1313
Average Rent
below US average
Poverty rate Data is updating, will be available soon
Unemployment Data is updating, will be available soon

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $77,422.

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Income Needed to Buy

βœ“ Affordable
$26k/year
Based on $82,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
πŸ“Š Median income ($77,422) exceeds requirement
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Income Needed to Rent

βœ“ Affordable
$56k/year
Based on $1313/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($77,422) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Milford, NE

Milford is a small city located in Seward County, Nebraska. Known for its close-knit community and small-town charm, Milford has a welcoming atmosphere that attracts both residents and visitors. The city sits approximately 25 miles west of Lincoln, making it an ideal spot for those who enjoy a quiet lifestyle while still having access to urban amenities. Milford is home to the Milford State Recreation Area, which offers various outdoor activities, including hiking, fishing, and camping. This makes it a popular destination for nature lovers and families looking to spend quality time outdoors. The city's historical roots can be traced back to the late 19th century, and it features a blend of traditional and more modern architecture. Local events, such as community festivals and farmers' markets, foster a sense of belonging among residents. Education is also a vital part of Milford, with the city offering local schools and proximity to higher education institutions in nearby Lincoln. Overall, Milford, NE, embodies the essence of small-town living, offering both tranquility and community engagement.

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