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 $121,423, lower than the Tennessee average of $218,916.
The average cost of rent is $810/mo in Milan, primarily driven by the current value of real estate in the Milan area. While nearly 46.84% of residents own their homes outright in Milan, 34.36% rent.
Housing affordability isn’t just about home prices, though. The average household income in Milan is $4,816 per month. Households that rent pay about 16.83% of their income on rent here. Milan's most expensive areas are in the central regions, while the cheapest areas are in the western parts of the city.
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