Real Estate Investing in Milford, Kansas

Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.

1 ZIP codes • Population: 1,658 • Geary County

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Should you buy in Milford, KS? Our answer, based on the numbers below.

🏠 For Homebuyers
MIXED
Grade C (56/100)

Mixed signals — some positives, some negatives. Worth considering but not a slam-dunk.

📈 For Investors
MIXED
3.0 / 5 (47/100)

A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.

⚠️ Risks to Know
1 flag
  • High vacancy: 19.4% of homes vacant — above national norms.

What’s happening in Milford, KS?

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3.0/ 5

Investability

Citywide average

3.0/ 5

Appreciation

4.4% 5yr CAGR

5.0/ 5

Landlord Climate

Regulatory friendliness

🏦 30-yr Fixed Rate: 6.76% as of Sep 10 Source: Freddie Mac PMMS
Avg Investability ★★★★★
Avg Home Value $321,701
Avg Monthly Rent $918
ZIP Codes 1

Market Trends — Milford, KS

Home Value History

$339K$307K$275K$242K$210K$178KJan 2012May 2019Jul 2026

Local Pulse Report

AI-researched developments and news for Milford, KS. Updated on demand as visitors ask.

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Growth & development in Milford, KS Updated 5 days ago
Milford, KS, and the surrounding region are experiencing significant residential development and infrastructure improvements, alongside broader state-level energy projects.
✓ Opportunities
  • The Milford City Council approved the final plat for the Harvest Hills housing development, bringing over 120 new residential lots to the city's west side. — This expands housing options and supply for residents, accommodating growth. Explore Okoboji
  • South Okoboji Development finalized a land sale for 17 acres to Green Acres Homes to create a new residential community with over 85 homes in Milford, Iowa. — This provides diverse housing, from workforce to single and multi-family homes. Iowa Lakes Corridor
  • Additional financial assistance is available for conservation projects within the Milford Lake Watershed through the Regional Conservationist Partnership Program. — This supports environmental quality and sustainable land use in the area. Milford Watershed
  • Construction is underway on a 65-megawatt Sunflower Sky Solar Farm in Wilson County, Kansas, generating clean energy for thousands of homes. — This increases renewable energy supply and contributes to regional economic growth. Emery Sapp & Sons
  • Evergy began construction on a new 710-megawatt natural gas plant in Sumner County, Kansas, expected to operate by 2029. — This provides reliable baseload power, supporting growing energy demands and creating jobs. Evergy
⚠ Concerns
  • M & D Distributors Ltd. in Milford, KS, was forfeited in November 2021 for failing to file an annual report and pay the associated fee. — This indicates a business closure, potentially reducing local employment and services. Kansas Secretary of State
Bottom line: Milford is experiencing a boom in residential construction and regional energy infrastructure development, with some minor business closures.

Sources & references

Local news & events in Milford, KS Updated 5 days ago
Milford, KS faces ongoing water quality challenges at Milford Lake, while also seeing community efforts to address local needs and host recreational events. #### Positives: * Milford State Park is hosting a "First Day Hike" on January 1, 2026, encouraging o
Milford, KS faces ongoing water quality challenges at Milford Lake, while also seeing community efforts to address local needs and host recreational events. #### Positives: * Milford State Park is hosting a "First Day Hike" on January 1, 2026, encouraging o

Sources & references

Schools in Milford, KS Updated 5 days ago
Milford's school district is undertaking a long-range facilities plan that includes potential school consolidations and major renovations, while Milford Elementary shows strong academic performance in some areas.
✓ Opportunities
  • Milford Elementary School ranks in the top third of Kansas elementary schools for the 2024-2025 school year and outperforms district and state averages in English Language Arts and Mathematics proficiency.
  • The district's Milford Elementary School has a student-teacher ratio of 10.4, which may allow for more individualized attention for students.
  • Milford Elementary School has a lower chronic absenteeism rate of 19.5%, which is below the state average.
  • The Milford School District offers a "Ready, Set, K!" program in July for students entering Kindergarten to help with social and academic readiness.
  • The City of Milford offered to cover water, sewer, and trash bills for Milford Elementary School to help the district save the school.
⚠ Concerns
  • The Milford Board of Education approved a long-range facilities plan in May 2026 that includes closing two of the city's eight elementary schools (Calf Pen Meadow and Meadowside) and consolidating three middle schools i…
  • Some parents have voiced frustrations with the consolidation plan, arguing it would negatively impact Milford's neighborhood schools and small-town character.
  • Milford Elementary School's performance in Science proficiency for all grades and 5th grade in 2024-2025 was lower than the district and state averages.
  • Kansas school district enrollment fell by approximately 0.4% in the 2024-25 school year, a trend that could impact funding as it is tied to enrollment.
  • The Milford School District had to cut some transportation services in 2025 after a failed levy.
Bottom line: The Milford school district is embarking on a multi-decade, billion-dollar facilities overhaul involving consolidations and renovations, while Milford Elementary demonstrates strong academic performance in core subjects despite broader enrollment declines.

Sources & references

Civic & policy in Milford, KS Updated 5 days ago
Milford, KS has seen recent city and county decisions impacting short-term rentals, pet ownership, zoning for commercial development, and property taxes.
✓ Opportunities
  • Milford City Council approved a comprehensive plan map amendment and a change of zone to C-3 (highway commercial) for a property owned by Miller Investments LLC on April 28, 2026. — This decision facilitates new commercial development, potentially bringing more businesses and job opportunities to Milford. Citizen Portal
  • The City Council accepted water, sewer, and street improvements for Milford Ponds Phases 1.7 and 1.8, releasing the developer's performance bond on April 28, 2026. — This indicates progress in housing development, potentially increasing housing supply and options for residents. Citizen Portal
  • Kansas state law changes effective January 1, 2026, exempt several categories of personal property from taxation, including watercraft, off-road vehicles, motorized bicycles, and certain trailers. — This reduces the tax burden on residents who own these types of personal property, saving them money. Douglas County KS
  • Kansas eliminated the state sales tax on food, effective January 1, 2025, reducing it from 2% to 0%. — This change saves families approximately $500 or more per year on groceries, increasing disposable income. Withum
⚠ Concerns
  • Milford passed Ordinance 2024-02, prohibiting short-term rentals (VRBOs, Air BnBs) within city limits. — This restricts property owners' ability to generate income through short-term rentals and limits visitor accommodation options. City of Milford, Kansas
  • Milford now requires all pets to be registered annually, with fees of $4 for fixed pets and $8 for unfixed pets, and limits households to three pets without a kennel license. — This imposes new costs and restrictions on pet owners, potentially limiting the number of pets residents can have. City of Milford, Kansas
  • Geary County commissioners voted on September 9, 2026, to exceed the revenue-neutral rate for the 2027 budget, citing a $1.8 million shortfall. — This decision will likely result in increased property taxes for Geary County residents. Citizen Portal
  • Geary County adopted a new noise ordinance in September 2025, banning loud or "unusual" noises at night (10 p.m. to 6 a.m. weekdays, midnight to 7 a.m. weekends). — This ordinance restricts certain activities during nighttime hours and can result in fines up to $500 or jail time for violations. The Junction City Union
Bottom line: Milford residents face new local regulations on property use and pet ownership, alongside county-level tax increases, while state tax exemptions offer some relief.

Sources & references

AI-generated from public web sources. Always verify with official records. Not financial, legal, or investment advice.

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Best ZIP codes in Manhattan, KS

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Landlord Ground Truth

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Avg Home Value
$321,701
Avg Monthly Rent
$918
1% Rule
✗ Below
Landlord Friendly (KS)
★★★★★

📉 Market Crash Risk Index

Based on Manhattan, KS metro

0/10
Low Risk
Price YoY
0/3
N/A
Rent YoY
0/2
N/A
Below List
0/3
48%
Days Pending
0/2
33 days

View all metro crash risk rankings →

⚖️ Balanced Market — Manhattan, KS metro
33
Days to pending
9.9%
Listings with price cuts
0.0%
Sale-to-list ratio
📅 Data as of August 29, 2026 — updated weekly

ZIP Codes in Milford, KS

66514 ★ ★ ★ ★ ★
Home Value $321,701
Rent $918/mo

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Frequently Asked Questions About Milford, KS

What is the median home value in Milford, KS?

Milford, KS median home values land near $322K. That is reasonable territory for investors looking at $918/mo-per-month rentals.

What type of investing works in Milford, KS?

In Milford, KS the significant play is typically careful cash-flow rentals with hands-on management. The combination of $322K prices and $918/mo rents suits that approach.

How strict are landlord regulations in Milford, KS?

For rental operators, Milford, KS rates as landlord-friendly. The regulatory environment standard buy-and-hold operations.

Is Milford in KS worth investing in?

Milford, KS rates 3.0/5 for investability. With median values at $322K and rents near $918/mo, the market offers reasonable fundamentals for rental investors.

How strong is the working-renter base in Milford, KS?

Tenant quality in Milford, KS ranks as solid. Landlords generally report reliable occupancy at market rents of $918/mo.

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