Milford is a village in Milford Township, Iroquois County, Illinois, United States. The population was 1,158 at the 2020 census. The village's name comes from its location, where the Old Hubbard Trail forded Sugar Creek and where a gristmill stood in 1836 ("the mill at the ford").

Milford is located in southeastern Iroquois County along Illinois Route 1, which leads north 12 miles (19 km) to Watseka, the county seat, and south the same distance to Hoopeston in Vermilion County. The Indiana border is 9 miles (14 km) east of Milford via county roads.

According to the 2021 census gazetteer files, Milford has a total area of 0.67 square miles (1.74 km²), all land. Sugar Creek flows westward along the southern edge of the village, before turning north to flow to the Iroquois River near Watseka. It is part of the Kankakee River watershed.

As of the 2020 census, Milford had a population of 1,158. The population density was 1,725.78 inhabitants per square mile (666.33/km²), and housing density was 928.46 per square mile (358.48/km²).

The median age was 42.1 years. 22.4% of residents were under the age of 18 and 21.2% of residents were 65 years of age or older. For every 100 females there were 90.1 males, and for every 100 females age 18 and over there were 85.0 males age 18 and over.

0.0% of residents lived in urban areas, while 100.0% lived in rural areas.

There were 524 households in Milford, of which 26.1% had children under the age of 18 living in them. Of all households, 37.0% were married-couple households, 21.2% were households with a male householder and no spouse or partner present, and 33.4% were households with a female householder and no spouse or partner present. About 36.3% of all households were made up of individuals and 18.0% had someone living alone who was 65 years of age or older.

There were 623 housing units, of which 15.9% were vacant. The homeowner vacancy rate was 1.3% and the rental vacancy rate was 14.6%.