Milford, MA

  • Overview
  • Performance
  • Listings
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Key Performance Metrics

Market snapshot

Performance indicators for the Milford short-term rental market based on reliable data.

Listings

2 / 18

Reliable / Active

Cap Rate

4%

Middle-Earners Gross Yield

Revenue

$20,470

Middle-Earners Revenue

Occupancy

62%

Middle-Earners Occupancy

Home Value

$567,115

Median Home Sale Price

Top Earners

$28,580

Top-Earners Revenue

Milford

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Milford.

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C

Challenging to Investors

Milford Regulations

STRs are treated as “Boarding or Rooming House” and require a Special Permit plus site plan review and a Certificate of Zoning Compliance—allowed only in select residential/office and limited commercial districts and prohibited in industrial areas. The multi‑stage permitting process (public hearing, coordination with multiple boards, building permits, and recorded approvals) creates cost and complexity, and the lack of a dedicated STR category increases legal/operational uncertainty. While not citywide‑banned, the constrained zones, approval hurdles, and enforcement exposure keep it challenging for investors.

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About Milford

Milford is a town in Worcester County, Massachusetts, with a population of approximately 28,000 to 29,000 residents. It sits in the Blackstone Valley region of southern central Massachusetts, roughly 35 miles southwest of Boston and about 20 miles southeast of Worcester. The town carries a long industrial heritage tied to its historic granite quarries and once-thriving boot and shoe factories, and today it functions as a quiet suburban community that serves as a convenient gateway between the Greater Boston metropolitan area and the rolling landscapes of central Massachusetts. Its compact downtown, filled with locally owned shops and restaurants, gives the town a small New England feel despite its proximity to several major urban centers.

Just north of Milford, the town of Hopkinton marks the starting line of the Boston Marathon, one of the most famous road races in the world. The starting line on Main Street draws runners and spectators from around the globe each Patriots' Day in April, and visitors who come outside of race day can still walk the short stretch of road and visit the nearby commemorative marker. The drive from Milford to Hopkinton center is only about ten minutes, making it an easy day trip for short-term rental guests who want a piece of marathon history.

A short drive southwest of Milford in the neighboring town of Mendon, Southwick's Zoo sprawls across several hundred acres and ranks among the largest zoos in New England. Visitors can see giraffes, lions, bears, and a wide variety of other animals on drive-through and walk-through exhibits, including an aviary and a petting zoo that appeal to families with young children. The zoo is roughly ten to fifteen minutes from downtown Milford and offers a full day of activities, especially in the warmer months.

Outdoor recreation is never far from Milford. Hopkinton State Park, located just a few miles north in Hopkinton, features a large freshwater reservoir popular for swimming, fishing, and non-motorized boating, along with several miles of wooded hiking trails that loop through the surrounding forest. Closer to home, the Upper Charles Trail winds through Milford and several neighboring communities, offering a paved route for walking, jogging, and cycling along the Charles River corridor. These open spaces give the town a refreshing balance to its historic downtown and busy commuter traffic.

Milford's appeal for short-term rental guests lies in its blend of small-town New England character, easy access to Boston and Worcester, and a range of nearby attractions from zoos to state parks to the iconic Boston Marathon starting line. Travelers who base themselves here enjoy a peaceful, walkable town while remaining within a reasonable drive of New England's largest city and many of its most visited destinations.

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