In Milan, a typical home is worth $247,100 and typical rent is $1,162 a month. Compared with all of Monroe County, typical household income is 25% higher, typical rent is 10% higher, and the share of households that own their home is 13 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $255,875 to $305,629.
From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).
Milan is in Monroe County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Monroe County. See the county
What this place has that others do not, from public data, most unusual first.
1
The typical household income in Milan is $96,949,25% more than in Monroe County as a whole ($77,335).
2
68% of households in Milan own their home, against 82% in Monroe County.
Sources: U.S. Census Bureau (Average 2020–2024).
The homes here
Housing in Milan
What homes there are in Milan, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Milan
Monroe County
Michigan
United States
Kind of home: Milan and its comparisons
Measure
Milan
Monroe County
Michigan
United States
Detached house
65%
78%
72%
61%
Attached house
Unreliable estimate
2%
5%
6%
Building of 2 to 4
Unreliable estimate
3%
5%
8%
Apartments (5 or more)
Unreliable estimate
9%
13%
19%
Mobile home
Unreliable estimate
8%
5%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
The detached house is still the most common home in Milan, but it weighs less than in Monroe County: 65% against 78%.
Year built
Before 19601960–19791980–19992000–20092010 or later
Milan
Monroe County
Michigan
United States
Year built: Milan and its comparisons
Measure
Milan
Monroe County
Michigan
United States
Before 1960
44%
34%
36%
26%
1960–1979
13%
24%
26%
24%
1980–1999
18%
21%
22%
25%
2000–2009
20%
13%
10%
14%
2010 or later
5%
8%
6%
11%
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100KUnreliable
$100K–$200K20%
$200K–$300K50%
$300K–$500K24%
$500K–$750KUnreliable
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Milan and its comparisons
Measure
Milan
Under $100K
Unreliable estimate
$100K–$200K
20%
$200K–$300K
50%
$300K–$500K
24%
$500K–$750K
Unreliable estimate
$750K–$1M
Unreliable estimate
$1M or more
Unreliable estimate
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$999Unreliable
$1,000–$1,49944%
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Milan and its comparisons
Measure
Milan
Under $500
Unreliable estimate
$500–$999
Unreliable estimate
$1,000–$1,499
44%
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable
With a mortgage
$1,685 a month
Monroe County: $1,586 a month
Without a mortgage
$728 a month
Monroe County: $602 a month
Owners with a mortgage
75%
Monroe County: 61%
The typical cost for an owner with a mortgage in Milan is $1,685 a month, more than in Monroe County ($1,586); without one, $728.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Milan+45%
Monroe County+42%
Michigan+50%
United States+53%
Typical rent
Milan+26%
Monroe County+27%
Michigan+30%
United States+33%
Typical household income
Milan+36%
Monroe County+24%
Michigan+28%
United States+29%
Change since 2015–2019: Milan and its comparisons
Measure
Milan
Monroe County
Michigan
United States
Typical home value
+45%
+42%
+50%
+53%
Typical rent
+26%
+27%
+30%
+33%
Typical household income
+36%
+24%
+28%
+29%
The typical home value in Milan rose 45% since 2015–2019, more than in Monroe County (42%).
Rents in Milan rose at about the same pace as in Monroe County: 26% since 2015–2019, against 27%.
While home values in Milan changed +45% and rent +26%, the typical household income rose 36%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Milan and its comparisons
Measure
Milan
Monroe County
Michigan
United States
Rental vacancy
Unreliable estimate
Unreliable estimate
5.1%
5.5%
Homeowner vacancy
Unreliable estimate
Unreliable estimate
0.8%
0.9%
More than one person per room
Unreliable estimate
1.3%
1.6%
3.4%
People per household
2.30
2.45
2.42
2.53
Drive alone
73%
82%
74%
69%
Carpool
6%
7%
8%
9%
Public transit
Unreliable estimate
Unreliable estimate
1%
3%
Walk or bike
Unreliable estimate
2%
2%
3%
Work from home
13%
9%
14%
15%
Other means
Unreliable estimate
1%
1%
2%
Typical commute
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
On average, a household in Milan has 2.30 people, fewer than in Monroe County (2.45).
Working from home is more common in Milan: 13%, against 9% in Monroe County.
Do the math
What would you pay each month for a home in Milan?
A typical home is within reach of the typical income
We start with a typical home in Milan, worth $247,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 27% of the typical household income in Milan, which is $96,949 a year.
The calculator's FHA and conventional loan limits are those of all of Monroe County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Milan. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $8,649 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$2,183
at 7.18% · 30 years
Loan amount
$242,624
Total interest
$349,079
Paid off in
November 2056
Includes $4,173 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $2,262 a month
Your payment · 27%
Tight
$2,262 to $2,908 a month
Hard
more than $2,908 a month
Compared with the typical household income in Milan ($96,949 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$1,644
Property tax
$327
Home insurance
$103
FHA mortgage insurance (MIP)
$109
You need at least $8,649 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $2,183; principal and interest $1,644.
The city and its county
Milan and Monroe County
Milan is in Monroe County, Michigan. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Map of Monroe County, Michigan, with Milan marked. Around it, the neighboring counties.
Monroe County
Milan's own numbers
Typical home value
$247,100
Typical monthly rent
$1,162
Typical yearly household income
$96,949
Households that own their home
68%
Effective property tax rate
1.59%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Monroe County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$1,304
Price change over 5 years (FHFA)
+45%
Homes in a high flood-risk zone
6.4%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Monroe County.
A typical home in Milan is worth $247,100: 8% above the county and 7% above Michigan. With the typical household income in Milan ($96,949 a year), a typical home costs 2.5 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Milan2.5 years
Monroe3.0 years
Michigan3.2 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Monroe County
According to FHFA’s house price index, home prices in Monroe County rose 81% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Monroe County.
Yearly change in FHFA’s price index in Monroe County, 2016 to 2025
2016: +4.0% +4.0% 2016
2017: +5.8% +5.8% 2017
2018: +5.7% +5.7% 2018
2019: +4.1% +4.1% 2019
2020: +3.3% +3.3% 2020
2021: +10.2% +10.2% 2021
2022: +11.1% +11.1% 2022
2023: +5.5% +5.5% 2023
2024: +5.7% +5.7% 2024
2025: +6.3% +6.3% 2025
Change in FHFA’s price index in Monroe County, Michigan and the United States
Period
County
Michigan
U.S.
Last year (2025)
+6.3%
+4.7%
+2.9%
5 years (2020–2025)
+45%
+52%
+47%
10 years (2015–2025)
+81%
+97%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Milan next to Monroe County, Michigan and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Milan$247,100
Monroe$228,900
Michigan$231,600
United States$332,700
Typical monthly rent
Milan$1,162
Monroe$1,059
Michigan$1,129
United States$1,413
Typical yearly household income
Milan$96,949
Monroe$77,335
Michigan$72,875
United States$80,734
See the full table
Milan next to Monroe County and Michigan
Measure
Milan
Monroe County
Michigan
U.S.
Typical home value
$247,100 ▲8% above the county
$228,900
$231,600
$332,700
Typical monthly rent
$1,162 ▲10% above the county
$1,059
$1,129
$1,413
Typical yearly household income
$96,949 ▲25% above the county
$77,335
$72,875
$80,734
Households that own their home
68% ▼13 points below the county
82%
73%
65%
Typical yearly property tax
$3,927 ▲48% above the county
$2,648
$2,904
$3,119
Effective property tax rate
1.59% ▲0.43 points above the county
1.16%
1.25%
0.94%
Renters with high rent for their income
57% ▲6 points above the county
51%
50%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Monroe County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Milan
For a typical $247,100 home in Milan, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Milan's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$2,183a month
Least cash to close
Down payment
$8,649
Cash to close
$16,062
Rate
7.18%
Mortgage insurance
FHA MIP · $109
Conventional, 5% down$2,138a month
Down payment
$12,355
Cash to close
$19,768
Rate
7.18%
Mortgage insurance
PMI · $117
Conventional, 20% down, no PMI$1,770a month
Down payment
$49,420
Cash to close
$56,833
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$1,998a month
Down payment
$37,065
Cash to close
$44,478
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Milan
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$2,183
$8,649
$242,624
7.18%
FHA MIP · $109
$16,062
580
Conventional, 5% down
$2,138
$12,355
$234,745
7.18%
PMI · $117
$19,768
620*
Conventional, 20% down, no PMI
$1,770
$49,420
$197,680
7.18%
None
$56,833
620*
ITIN, 15% down (example)
$1,998
$37,065
$210,035
8.18%
None
$44,478
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Milan is $1,162 a month: 10% above the county. In Milan, 57% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Monroe County, by unit size. To pay the 2-bedroom one ($1,304 a month) without spending more than 30% of your income, you would need to earn $25.08 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Monroe County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$908
$17.46
$36,320
1 bedroom
$997
$19.17
$39,880
2 bedrooms
$1,304
$25.08
$52,160
3 bedrooms
$1,595
$30.67
$63,800
4 bedrooms
$2,153
$41.40
$86,120
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Milan
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Milan is in ZIP code 48160.
For 2 bedrooms it is $1,530: $226 more than the fair market rent for Monroe County ($1,304).
Fair market rent by ZIP code and size in Milan, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
48160
$1,230
$1,250
$1,530
$1,850
$2,190
ZIP code2 bd3 bd
48160 $1,530$1,850
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Milan when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
There is 1 HUD-approved agency with an office in Monroe County; none says it serves in Spanish.
No down payment, repair or rent-help program on our list is for Milan or Monroe County. The ones below are statewide in Michigan: they work in Milan the same as in the rest of the state.
Michigan state agency loan of up to $10,000, with no interest and no monthly payments, for the down payment, closing costs and prepaid expenses; it goes with MSHDA's MI Home Loan mortgage and is repaid in certain cases, such as when you pay off the first mortgage, sell or refinance the home, or no longer live in it.Offered by Michigan State Housing Development Authority (MSHDA).
Michigan state authority certificate that lets you take 20% of the interest you pay each year on your mortgage off your federal taxes, for the life of the loan; you apply with an approved lender before you buy.Offered by Michigan State Housing Development Authority (MSHDA).
No legal help resource on our list is for Milan or Monroe County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Milan and all of Monroe County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Milan?
The typical home value in Milan is $247,100, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Monroe County it is $228,900.
How much does it cost to rent in Milan?
Typical rent in Milan is $1,162 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Monroe County is $1,304.
What is the FHA loan limit in Milan?
Milan uses the FHA limit for all of Monroe County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Milan?
The typical homeowner in Milan pays $3,927 a year, according to the U.S. Census Bureau. That is 1.59% of the home’s value; in Monroe County, the rate is 1.16%.
Where can I find free help to buy or rent in Milan?
There is 1 HUD-approved counseling agency with an office in Monroe County. They can help you get ready to buy, with your credit, or with rent.
