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The total population of Milford is estimated to be 1,762 with 860 males (48.81%) and 902 females (51.19%). There are 42 more females than males in Milford.
The median household income in Milford was $48,062 in 2021, which marked an an increase of 2,028(4.41%) from $46,034 in 2020. This income is 64.42% of the U.S. median household income of $74,606 (all incomes in 2022 inflation-adjusted dollars).
Per the latest American Community Survey by the Census Bureau, Milford sees its highest median household income among householders in the age group of under 25 years old, at $84,671. Overall, the median household income for the town of Milford stands at $48,062.
In Milford, the median income for all workers aged 15 years and older, regardless of work hours, was $40,684 for males and $28,172 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $53,660 for males and $33,441 for females.
In Milford, there are just three different racial groups among households. Among these, White households report a median household income of $56,491, followed by Some Other Race households at $45,218, and Two or More Races households with a median household income of $28,482.
In 2022, the population of Milford was 1,617, a 0.25% increase year-by-year from 2021. Previously, in 2021, Milford's population was 1,613, a decline of 0.00% compared to a population of 1,613 in 2020.
The median age in Milford, IN is 33.3, as per 2021 ACS 5-Year Estimates. Of the total population, 26.31% were under the age of 15, 20.26% aged 15 to 29, 38.11% aged 30 to 64, 12.95% aged 65 to 84, and 2.36% were 85 years of age and older.
Racial distribution of Milford population: 88.03% are White, 0.98% are Asian, 6.04% are some other race and 4.95% are multiracial.