Indiana is where the past meets the present, and the great outdoors is right at your fingertips. Get to know the rich cultural heritage of this Midwestern gem by visiting incredible museums like the Eiteljorg Museum of American Indians and Western Art, or check out the top universities like Purdue University and Indiana University. Indiana is a hub of economic activity, with its thriving manufacturing, agriculture, and transportation industries.

The state also offers plenty of opportunities for those seeking adventure and excitement. From exploring the beautiful state parks to fishing in its many lakes and rivers, Indiana is a nature-lovers paradise from the Hoosier National Forest to the Ohio River. And for sports fans, check out the Indianapolis Colts (NFL) and Indiana Pacers (NBA) or catch a game at universities like Purdue or Indiana. In addition, discover famous attractions like the Indianapolis Motor Speedway, home of the world-famous Indianapolis 500 race, the Children's Museum of Indianapolis, and the historic town of Brown County.

With its strong economy, quality education, and lively atmosphere, Indiana is the perfect place to live.

Rental Market Trends

Milford, IN

As of August 2025, Milford's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Milford's average rent is 0.6% ($7) higher than the Indiana average of $1,247 and 29.9% ($536) lower than the U.S. average of $1,790.

Average Rent

$1,254

Monthly ChangeMonth Over Month Change

3.6% ($47)

Yearly ChangeYear Over Year Change

No change

Avg. Days on MarketAverage Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$994	2.1% ($21)	No change
2 Beds	$1,213	1.5% ($19)	No change
3 Beds	$1,568	2.7% ($44)	No change

Nearby Cities	Average Rent	Avg. Rent vs. MilfordAverage Rent vs. Milford	Avg. Days on MarketAverage Days on Market
Nappanee	$927	26.1% ($327)	34 days
Warsaw	$1,499	19.5% ($245)	32 days
Goshen	$743	40.7% ($511)	30 days
Bremen	$1,049	16.3% ($205)	31 days
Elkhart	$1,122	10.5% ($132)	32 days

Rental market trends are calculated using listing data from RentalSource.

Frequently Asked Questions

Milford Rental Market FAQs

Explore rental prices, market trends, and availability in Milford, IN.

What is the average rent in Milford, IN?

The average rent in Milford, IN is $1,254 per month.

What is the rental price range for houses in Milford, IN?

Houses in Milford typically rent for between $696 and $2,038 per month, with an average of $1,254 per month.

What is the average rent for different bedroom sizes in Milford, IN?

In Milford, the average rent for a 1-bedroom house is $994 per month, for a 2-bedroom house, $1,213 per month, and a 3-bedroom house is $1,568 per month.

How do rent prices in Milford, IN compare with the national average?

The average rent in Milford is 29.9% ($536) lower than the national average of $1,790 per month.

How competitive is the rental market in Milford, IN?

The rental market in Milford, IN, is currently competitive, with strong renter demand causing quick leasing times for well-priced units.

How long do rentals stay on the market in Milford, IN?

In Milford, IN, the average rental stays on the market for approximately 29 days. While most properties are rented within this timeframe, factors like seasonality, demand, and property type can affect how quickly a rental leases.

How many rental properties are available in Milford, IN?

There are currently 2 rental properties available in Milford, IN.

Can I afford to rent a house in Milford, IN?

Based on the current averages, a household would need an annual income of $48,520 to comfortably afford a 2-bedroom house in Milford.