Home Price Key
Affordable
Average
Expensive
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 $355,867, lower than the New York average of $481,023.
The average cost of rent is $1,233/mo in Milan, primarily driven by the current value of real estate in the Milan area. While nearly 52.43% of residents own their homes outright in Milan, 29.68% rent.
Housing affordability isn’t just about home prices, though. The average household income in Milan is $6,646 per month. Households that rent pay about 18.55% of their income on rent here. Milan's most expensive areas are in the eastern regions, while the cheapest areas are in the southwestern parts of the city.
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