Milford, NJ Profile: Facts & Data

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Milford, New Jersey - Basic Facts

The Borough of Milford had a population of 1,195 as of July 1, 2019. Milford ranks in the lower quartile for Population Density and Diversity Index when compared to the other cities, towns and Census Designated Places (CDPs) in New Jersey. See peer rankings below.

The primary coordinate point for Milford is located at latitude 40.5687 and longitude -75.0946 in Hunterdon County. The formal boundaries for the Borough of Milford encompass a land area of 1.15 sq. miles and a water area of 0.08 sq. miles. Hunterdon County is in the Eastern time zone (GMT -5). The elevation is 141 feet.

The Borough of Milford (GNIS ID: 885301) has a C5 Census Class Code which indicates an active incorporated place that is independent of any county subdivision and serves as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

Alternate Unofficial Names for Milford: Burnt Mills, Lowreytown, Sunburn.

Jump to... (On This Page!)
  1. Milford 2019 Demographic Data
  2. Growth Rates for Milford (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. New Jersey Research Tools (Easy Tools & Current Data)
  3. New Jersey Data Comparison Tool - 2019 Demographics

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Milford, NJ Data & Demographics (As of July 1, 2019)

HOUSING AFFORDABILITY INDEX

Milford, NJ Housing Affordability Index is 122
State of New Jersey Housing Affordability Index is 91
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.

WEALTH INDEX

Milford, NJ Wealth Index is 131
State of New Jersey Wealth Index is 148
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

These new demographic attributes are availiable for Neighborhoods, Cities, Counties, and ZIP Codes.

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  4. See the References & Data Sources page for more information about methodology and sources of data.
  5. See the New Jersey COVID-19 Data and US COVID-19 Data for more information on the spread of the novel coronavirus.

POPULATION

Total Population 1,195 (100%)
Population in Households 1,190 (99.6%)
Population in Families 941 (78.7%)
Population in Group Quarters1 5 ( 0.4%)
Population Density 1,011
Diversity Index2 13
 

INCOME

Median Household Income $83,400
Average Household Income $106,930
Per Capita Income $45,463
Wealth Index4 131

HOUSING

Total Housing Units 552 (100%)
Owner Occupied HU 335 (60.7%)
Renter Occupied HU 173 (31.3%)
Vacant Housing Units 44 ( 8.0%)
Median Home Value $271,371
Housing Affordability Index3 122
 

HOUSEHOLDS

Total Households 508
Average Household Size 2.34
Family Households 323
Average Family Size 3
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different race or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.

GROWTH RATE / YEAR

2010-2019 2019-2024
Population -0.34% -0.34%
Households -0.25% -0.28%
Families -0.26% -0.31%
Median Household Income   2.79%
Per Capita Income   4.05%

Milford, NJ - Peer Comparisons by Rank and Percentile

The table below compares Milford to the other 545 incorporated cities, towns and CDPs in New Jersey by rank and percentile using July 1, 2019 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 454 17th
Population Density # 430 21st
Diversity Index # 511 6th
Median Household Income # 289 47th
Per Capita Income # 224 59th

Additional comparisons and rankings can be made with a VERY EASY TO USE New Jersey Census Data Comparison Tool.

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