Michigan is bordered by four Great Lakes, making it a popular destination for boating and water activities. Michigan is also home to many national parks, including Isle Royale National Park and Sleeping Bear Dunes National Lakeshore. Explore the state's rich heritage through visits to renowned museums such as the Henry Ford Museum and the Michigan Historical Museum or get an excellent education at top universities like Michigan State University and the University of Michigan. In addition, Michigan boasts a robust economy in the manufacturing, technology, and tourism industries.

The state provides numerous opportunities for thrills and excitement. From soaking in the stunning views of the Great Lakes to hitting the ski slopes in the nearby mountains, outdoor enthusiasts will find plenty to love. Additionally, Michigan is home to several sports teams, including the Detroit Lions (NFL), Detroit Red Wings (NHL), Detroit Tigers (MLB), and Detroit Pistons (NBA). Explore famous attractions like Mackinac Island, the Detroit Institute of Arts, and scenic Mackinaw City.

Michigan offers a high quality of life, a strong economy, and a welcoming community, making it a great place to live.

Rental Market Trends

Milford, MI

As of May 2026, Milford's rental market is competitive, with strong renter demand causing quick leasing times for well-priced units. Milford's average rent is 7.2% ($103) higher than the Michigan average of $1,424 and 14.6% ($262) lower than the U.S. average of $1,789.

Average Rent

$1,527

Monthly ChangeMonth Over Month Change

25.3% ($517)

Yearly ChangeYear Over Year Change

20.2% ($257)

Avg. Days on MarketAverage Days on Market

Unit Type	Average Rent	Monthly ChangeMonth Over Month Change	Yearly ChangeYear Over Year Change
1 Bed	$1,471	0.6% ($9)	29.8% ($338)
2 Beds	$2,011	1.7% ($34)	30.8% ($474)
3 Beds	$2,761	4.7% ($123)	45% ($857)

Nearby Cities	Average Rent	Avg. Rent vs. MilfordAverage Rent vs. Milford	Avg. Days on MarketAverage Days on Market
Wixom	$1,508	1.2% ($19)	32 days
Brighton	$1,231	19.4% ($296)	39 days
Walled Lake	$1,629	6.7% ($102)	33 days
White Lake	$1,206	21% ($321)	37 days
South Lyon	$1,693	10.9% ($166)	36 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, MI.

What is the average rent in Milford, MI?

The average rent in Milford, MI is $1,527 per month.

What is the rental price range for homes in Milford, MI?

Homes in Milford typically rent for between $1,030 and $3,589 per month, with an average of $1,527 per month.

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

In Milford, the average rent for a 1-bedroom home is $1,471 per month, for a 2-bedroom home, $2,011 per month, and a 3-bedroom home is $2,761 per month.

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

The average rent in Milford is 14.6% ($262) lower than the national average of $1,789 per month.

How have rent prices in Milford, MI changed recently?

The average rent in Milford has decreased by 25.3% ($517) in the last month and increased by 20.2% ($257) over the past year.

How competitive is the rental market in Milford, MI?

The rental market in Milford, MI, 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, MI?

In Milford, MI, the average rental stays on the market for approximately 34 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, MI?

There is currently 1 rental property available in Milford, MI.

Can I afford to rent a home in Milford, MI?

Based on the current averages, a household would need an annual income of $80,440 to comfortably afford a 2-bedroom home in Milford.