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EconPulse

Local economy signal dashboard

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PLACEStable

Milford City (Balance), CT

Stable overall. Housing is the clearest support signal, while population needs the most attention. Housing reads as affordable for a median-income household.

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Overall score56out of 100
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NA
56
29
72
NA

Population

51,023

Data freshness

Unknown

GDP / Output

Unavailable YoY

NA

$50.1B

Local GDP is unavailable for this geography.

Vintage date unknown

State growth4.4%
U.S. growth5.3%

Jobs

Unemployment rate

56

4.4%

Unemployment is 4.4% for Latest available.

Vintage date unknown

State avg5.6%
U.S. avg4.3%

Population

-3.6% 5-year

29

51,023

Population moved -3.6% over the latest ACS window.

Vintage date unknown

State population3,624,508
U.S. population334,922,499

Housing

Rent share of income

72

20.3%

Median rent consumes 20.3% of median household income: Affordable.

Vintage date unknown

State rent$1.5K
U.S. rent$1.4K
HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

Federal Funds

Unavailable per resident

NA

$4.6B

$4.6B in federal obligations flowed here in FY2025.

Vintage date unknown

State total$153.6B
U.S. total$5.3T

Population and output

Trend Snapshot

Reported share

Industry Breakdown

FY2025

Federal Money

Federal obligations

$4.6B

Unavailable per resident in reported federal flow.

Top agencies

Dollars
1. Social Security Administration$3.1B
2. Department of Health and Human Services$517.2M
3. Department of Veterans Affairs$237.8M

Top recipients

Dollars
1. YALE UNIV$544.3M
2. DEPARTMENT OF TRANSPORTATION CONNECTICUT$157.5M
3. HOUSING AUTHORITY OF THE CITY OF NEW HAVEN$139.8M

Affordable

Housing Affordability

20.3%

of median income

1BR estimate$1,543
2BR estimate$2,033
Median income$111,201
Median home value$415,200

ACS context

Quick Facts

Population

51,023

Median age

46.3

Bachelor's degree+

50.3%

Poverty rate

5.2%

Labor force participation

68.7%

Prime rate

6.8%

CPI YoY

+3.9%

U.S. GDP YoY

+5.9%

Sources and warnings

Data Provenance

Census ACS 5-year

2024

BLS LAUS / CPS

Latest available

BEA regional CAGDP1

2024

USAspending

FY2025

FRED

2026-06-16

HUD Fair Market Rent

Latest available

Data notes
  • HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

5-year compound growth

Historical Trends

Population CAGR

-0.7%

GDP CAGR

Unavailable

Federal flow

5 years

Population (5 years)
202052,902
202150,694
202250,664
202350,749
202451,023
GDP (1 years)
2024$50.1B

2-year linear forecast

Predictive Outlook

Population forecast

202451,023
202550,096 *
202649,725 *

R² = 37.3% · * projected

Linear regression over available historical data. Projections are estimates based on past trends and do not account for policy changes, economic shocks, or other external factors.

housing affordability breakdown

Cost of Living

Median household income$111,201/yr
Median rent$1,882/mo
Rent share of income20.3%
Est. mortgage (30yr, 6.5%)$25,194/yr
Mortgage share of income22.7%

Rent data from Census ACS 5-year. Mortgage estimate assumes 20% down, 6.5% APR, 30-year fixed.

employment snapshot

Job Market

Unemployment rate4.4%
State avg5.6%
U.S. avg4.3%
Labor force participation68.7%
Poverty rate5.2%

Data from BLS LAUS / CPS. Latest available.

valuation snapshot

Real Estate

Median home value$415,200
Median monthly rent$1,882
Price-to-rent ratio18.4x

Moderate price-to-rent ratio — buying and renting are roughly balanced in this market.

composite score

Investment Climate

Investment climateModerate
Composite score48/100
Economic growthN/A
Labor market56/100
Population momentum29/100
Overall stability56/100

Composite score weighs economic growth, labor market health, population momentum, and overall stability. Not financial advice.

Location Context

Milford city (balance), Connecticut

City/Town

Part of

New Haven, CT

Nearby locations

Oronoque, CTWoodmont, CTStratford Downtown, CTOrange, CTLordship, CT