Home Insurance in Milford, New Jersey
With a median home value of $333,600, Milford is 35% lower than the Hunterdon County median.
Because older housing stock often has aging wiring, roofing or plumbing, it can cost more to insure or rebuild. The typical home in Milford was built around 1953. About 61% of homes were built before 1960, about 33 points above Hunterdon County's 28%.
The housing stock in Milford is 81% single-family homes and 7% apartments in buildings with 5+ units. The rest are 2-4 unit or other housing types.
About 58% of owner-occupied homes in Milford have a mortgage. Lenders require hazard (homeowners) insurance on any home carrying a mortgage.
Milford has an owner-occupancy rate of 72% and a vacancy rate of 8%; unoccupied homes typically need a different coverage form.
Most homes in Milford - 53% - are primarily heated with fuel oil. Homes heated with propane and fuel oil can carry added fire risk. Fuel-tank leaks and spills are often excluded from standard homeowners policies.
What's the biggest home insurance risk near Milford? FEMA's National Risk Index points to strong wind (Relatively High) in Hunterdon County and Hunterdon County had 729 active NFIP flood policies as of September 2026. See the full Hunterdon 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 New Jersey carries a statewide average premium of $1,551 per year.
Key figures
| Median home value | $333,600 |
|---|---|
| Median year built | 1953 |
| Owner-occupied share | 72% |
| Share of owner-occupied homes with a mortgage | 58% |
| Top county hazard | Strong Wind (Relatively High) |
| Active NFIP policies in Hunterdon County | 729 |
| Home insurance premium | $1,551 - 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)