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Milford borough, NJ

ZIP 08848 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Upper Middle ClassLow Snow AreaRemote Work Hub

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 08848

Median Home Value
$393,800
Median Rent
$1,220
Affordability Snapshot
$108,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$2,530/mo PITI).

11%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

3.0x
Home Price-to-Income Ratio

Within the typical 3-5x range for home affordability.

26.9 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 08848 in Milford borough, NJ, a household would need roughly $108,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $2,530. That sits below the local median household income ($129,509), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Mostly owner-occupied, low vacancy — stable housing market.

Heating Fuel
Housing Metrics
Owner Occupied
90.0%+38% vs US avg
x
Vacancy Rate
1.6%-84% vs US avg
x
Broadband Access
96.1%+10% vs US avg
x
4+ Bedrooms
4.2%-72% vs US avg
x
Built Pre-1939
5.4%-58% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
15.1%-70% vs US avg
x
Mortgage-Free
33.1%-13% vs US avg
x
$393,800
Home Value
$1,220
Rent
1972
Year Built
2008
Moved In

Residents have lived here since ~2008 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached90.5%
  • 1-unit attached3.0%
  • 2-9 units4.9%
  • 10+ units1.6%
  • Mobile home & other0.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$393,800
Median rent$1,220
Owner-occupied90.0%
Vacant1.6%
Price-to-income3.0x
Est. income to buy$108,000