Salary & Cost of Living in Milford, MA
Milford, MA: $74,110 median salary, cost of living index 120.8, $15.00/hr minimum wage. Calculate your take-home pay with our free paycheck calculator.
Median Salary
$74,110
$36/hr
Cost of Living
120.8
US avg = 100
Minimum Wage
$15.00
per hour
Unemployment
3.4%
rate
Milford, MA Overview
Population
28,834
Median Salary
$74,110
Average Salary
$83,003
Avg Commute
19 min
Median Home Price
$577,000
Median Rent
$2,322/mo
Job Growth
+1.4%
Sales Tax
6.25%
Milford is located in Massachusetts with a population of 28,834. The median household salary is $74,110 per year ($36/hour), which is $14,726 above the national median of $59,384. The average commute time is 19 minutes, and the city has a job growth rate of +1.4%.
Milford Salary by Experience Level (2026)
Wage distribution in Milford, MA based on BLS percentile breakdown of the $74,110 median salary. Entry-level represents 10th–25th percentile; mid-level is the median; senior-level represents 75th–90th percentile.
| Experience Level | Annual Salary | Hourly Wage | Years Exp |
|---|---|---|---|
| Entry-Level | $45,948 | $22.09/hr | 0–2 years |
| Mid-Level (Median) | $74,110 | $35.63/hr | 3–7 years |
| Senior-Level | $105,236 | $50.59/hr | 8–15 years |
| Top 10% (90th Percentile) | $131,916 | $63.42/hr | 15+ years / leadership |
Percentile multipliers (62%, 100%, 142%, 178%) derived from 2024 BLS Occupational Employment and Wage Statistics distribution across all occupations in metro areas. Specific roles vary; see jobs by city for role-specific data.
Milford Paycheck Calculator
Enter your annual salary to see your estimated take-home pay in Milford, MA, after federal, state, and local taxes.
Estimated Annual Take-Home Pay
$56,817
$4,734.74/month · $2,185.26/biweekly · Effective Rate: 23.3%
Gross Pay
$74,110
Federal Tax
-$7,918
State Tax
-$3,706
Local Tax
$0
FICA
-$5,669
Net Pay
$56,817
Pay Breakdown
| Item | Monthly | Annual |
|---|---|---|
| Gross Salary | $6,175.83 | $74,110.00 |
| Federal Income Tax | -$659.85 | -$7,918.20 |
| Massachusetts State Tax (5%) | -$308.79 | -$3,705.50 |
| Social Security (6.2%) | -$382.90 | -$4,594.82 |
| Medicare (1.45%) | -$89.55 | -$1,074.60 |
| Net Take-Home Pay | $4,734.74 | $56,816.88 |
Salary Comparison: Milford vs Other Cities
See how Milford's median salary and cost of living compare to the national average and similar cities.
| City | Median Salary | COL Index | Adj. Salary |
|---|---|---|---|
| Milford, MA | $74,110 | 120.8 | $61,349 |
| National Average | $59,384 | 100 | $59,384 |
| Piscataway, NJ | $74,103 | 126.3 | $58,672 |
| Woodlawn, MD | $74,134 | 106.1 | $69,872 |
| Bridgewater, NJ | $74,152 | 122.7 | $60,434 |
| Shrewsbury, MA | $74,050 | 136.9 | $54,091 |
Adjusted salary reflects purchasing power when cost of living is factored in. A higher adjusted salary means your money goes further.
Cost of Living in Milford
Milford's cost of living index is 120.8 (national average = 100). Living in Milford is 20.799999999999997% more expensive than the national average.
Median Home Price
$577,000
Median Monthly Rent
$2,322
Annual Rent Cost
$27,864
Your Salary's Purchasing Power
Your $56,817 annual take-home pay in Milford has the purchasing power of approximately $47,034 in an average-cost US area. You would need to earn $89,525 in Milford to match a $74,110 salary in an average-cost city.
Top Industries in Milford
Milford's economy is driven by these key industries. Workers in top industries often earn significantly above the median salary of $74,110.
Salary Tips for Milford Workers
- Negotiate for cost of living. Milford has a cost of living 20.799999999999997% above the national average. When negotiating salary, factor in the higher housing and living costs to ensure your real purchasing power stays competitive.
- Research top industries. Milford's top industries include Biotech, Education, Finance. Targeting roles in these sectors can help you earn above the $74,110 median salary.
- Review your W-4 withholding. If you regularly receive large tax refunds, adjust your W-4 to increase your per-paycheck take-home pay instead of giving the government an interest-free loan.
Methodology & Local Economy Data Sources
How we calculate Milford salary data: Our citywide compensation figures aggregate occupation-specific salary data from BLS Occupational Employment and Wage Statistics for the Milford-MA metropolitan statistical area (MSA), weighted by local employment counts. Cost-of-living adjustments use the C2ER Cost of Living Index baseline of 100 (national average), with Milford indexed at 120.8.
- Median salary calculation: weighted average of Milford's occupation-specific medians from BLS OEWS, adjusted for local cost of living. Net result: $74,110 annual median.
- Tax burden reflects Massachusetts state income tax (5%) (no local income tax), sales tax (6.25%), and federal taxes per IRS 2026 brackets.
- Unemployment rate for Milford: 3.4%, sourced from BLS Local Area Unemployment Statistics (LAUS).
- Top industries: Biotech, Education, Finance — based on QCEW employment concentration data.
- Job growth: 1.4% projected through 2034, derived from BLS Employment Projections program for Massachusetts.
- Housing context: median home price $577,000, median rent $2,322/mo, sourced from Census American Community Survey 5-year estimates.
Authoritative US data sources for Milford, MA:
- BLS Occupational Employment and Wage Statistics (OEWS) — metropolitan area salary data
- BLS Local Area Unemployment Statistics — Milford unemployment rate
- U.S. Census Bureau — Milford QuickFacts — population, housing, demographics
- BLS Quarterly Census of Employment and Wages (QCEW) — county-level industry employment
- BLS Economy at a Glance — Massachusetts — state economic indicators
- U.S. Bureau of Economic Analysis (BEA) — local GDP and personal income data
- BLS Consumer Price Index (CPI-U) — regional inflation tracking
Disclaimer: Salary and cost data are estimates for general guidance. Individual compensation varies by employer, experience, education, negotiation, and skills. Milford's rapidly changing economy can shift these baselines — always verify with current job listings, employer offers, and recent Massachusetts labor market reports for the most current figures.
Reviewed by Brazora Monk· Last updated 2026 · BLS & Census data current as of latest releases
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Frequently Asked Questions
What is the median salary in Milford, MA?
The median salary in Milford, MA is $74,110 per year, or $36 per hour. The average salary is $83,003. This is $14,726 above the national median of $59,384.
What is the cost of living in Milford, MA?
Milford's cost of living index is 120.8 (national average = 100), meaning it is 20.799999999999997% more expensive compared to the national average. The median home price is $577,000 and the median monthly rent is $2,322.
What are the best industries in Milford?
The top industries in Milford, MA include Biotech, Education, Finance. The city has a job growth rate of 1.4% and an unemployment rate of 3.4%. Workers in these industries often earn above the city's median salary of $74,110.
How does Milford's salary compare to other cities?
Milford's median salary of $74,110 is 24.8% above the national median of $59,384. However, when adjusted for cost of living (index: 120.8), the real purchasing power is approximately $61,349.
What is the minimum wage in Milford, MA?
The minimum wage in Milford, MA is $15.00 per hour. This equals approximately $31,200 per year for a full-time worker (40 hours/week). This is $7.75 above the federal minimum wage of $7.25/hour.