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The total population of Milford is estimated to be 6,483 with 3,146 males (48.53%) and 3,337 females (51.47%). There are 191 more females than males in Milford.
The median household income in Milford was $97,921 in 2021, which marked an a decrease of 1,623(1.63%) from $99,544 in 2020. This income is 131.25% 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 45 to 64 years old, at $130,655. Overall, the median household income for the village of Milford stands at $97,921.
In Milford, the median income for all workers aged 15 years and older, regardless of work hours, was $75,580 for males and $30,748 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $120,716 for males and $87,757 for females.
In Milford, there are just two different racial groups among households. Among these, White households report a median household income of $98,140, while Two or More Races households have a median household income of $68,571.
In 2022, the population of Milford was 6,434, a 0.74% decrease year-by-year from 2021. Previously, in 2021, Milford's population was 6,482, a decline of 0.37% compared to a population of 6,506 in 2020.
The median age in Milford, MI is 40.8, as per 2021 ACS 5-Year Estimates. Of the total population, 20.41% were under the age of 15, 16.57% aged 15 to 29, 46.43% aged 30 to 64, 14.85% aged 65 to 84, and 1.74% were 85 years of age and older.
Racial distribution of Milford population: 90.97% are White, 0.37% are Black or African American, 1.08% are Asian, 0.66% are some other race and 6.93% are multiracial.