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These days, finding an affordable place to live in the Milan area can be challenging. Home prices in Milan are now at a median cost of $129,489, lower than the Missouri average of $246,641.
The average cost of rent is $706/mo in Milan, primarily driven by the current value of real estate in the Milan area. In Milan, 30.92% of households rent, and 41.94% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Milan is $4,822 per month. Households that rent pay about 14.64% of their income on rent here. Milan’s most expensive areas are in the northern regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
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- Mystic, MO: less expensive homes
- Humphreys, MO: equally priced homes
- Browning, MO: higher priced homes
- Greencastle, MO: equally priced homes
- Harris, MO: less expensive homes
Cities with Similar Populations
- Beech Bluff, TN: higher priced homes
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- Monroe, VA: higher priced homes
- Myrtle Grove, GA: higher priced homes
- Nauvoo, AL: equally priced homes
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