Home Insurance in Milford, Michigan
Homes in Milford carry a median value of $363,700 - 6% higher than the Oakland County median.
The typical home in Milford was built around 1973. Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. About 37% of homes were built before 1960, about 10 points above Oakland County's 28%.
Housing in Milford breaks down to 78% single-family homes and 10% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
In Milford, about 72% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
About 77% of occupied homes in Milford are owner-occupied. The vacancy rate is 5%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy.
Most homes in Milford - 94% - are primarily heated with natural gas.
Oakland County's top FEMA-rated hazard is tornado (Very High), per FEMA's National Risk Index. Oakland County had 1,433 active NFIP flood policies as of September 2026. See the full Oakland County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Michigan carries a statewide average premium of $1,110 per year.
Key figures
| Median home value | $363,700 |
|---|---|
| Median year built | 1973 |
| Owner-occupied share | 77% |
| Share of owner-occupied homes with a mortgage | 72% |
| Top county hazard | Tornado (Very High) |
| Active NFIP policies in Oakland County | 1,433 |
| Home insurance premium | $1,110 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)