As of the 2020 United States Census, Milpitas has a population of approximately 80,273 residents. The city has experienced rapid and steady population growth over the past three decades, driven heavily by the expansion of the Silicon Valley technology sector and transit-oriented housing development.
Milpitas is renowned for its demographic diversity. It has one of the highest concentrations of Asian Americans in the United States, with individuals of Asian descent (predominantly Indian, Chinese, Vietnamese, and Filipino) making up roughly 60% to 65% of the total population. White, Hispanic/Latino, and African American residents make up the remainder of the community. The population is highly educated, with a large majority of adults holding a bachelor's degree or higher. Consequently, the median household income is exceptionally high, often exceeding $140,000, reflecting the high density of tech-industry professionals residing in the city.