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The total population of Milford is estimated to be 1,244 with 598 males (48.07%) and 646 females (51.93%). There are 48 more females than males in Milford.
The median household income in Milford was $91,878 in 2021, which marked an a decrease of 14,557(13.68%) from $106,435 in 2020. This income is 123.15% 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 $109,688. Overall, the median household income for the borough of Milford stands at $91,878.
In Milford, the median income for all workers aged 15 years and older, regardless of work hours, was $60,588 for males and $44,529 for females. However, when specifically considering full-time, year-round workers within the same age group, the median income was $91,090 for males and $69,264 for females.
In Milford, population is primarily represented by White households, reporting a median income of $94,985.
In 2022, the population of Milford was 1,218, a 1.30% decrease year-by-year from 2021. Previously, in 2021, Milford's population was 1,234, an increase of 0.65% compared to a population of 1,226 in 2020.
The median age in Milford, NJ is 46.6, as per 2021 ACS 5-Year Estimates. Of the total population, 14.11% were under the age of 15, 15.16% aged 15 to 29, 45.14% aged 30 to 64, 24.89% aged 65 to 84, and 0.70% were 85 years of age and older.
Racial distribution of Milford population: 97.46% are White, 0.53% are Asian, 0.26% are some other race and 1.75% are multiracial.