In Milan, a typical home is worth $144,100 and typical rent is $805 a month. Compared with all of Gibson County, typical household income is 30% lower, the typical home value is 8% lower, and the share of households that own their home is 13 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $147,677 to $183,083.
Typical rent
$1,140a month
From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).
Milan is in Gibson 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 Gibson County. See the county
What this place has that others do not, from public data, most unusual first.
1
Milan has the 4th largest share of rent-burdened renters of the 101 cities in Tennessee with more than 5,000 people (63%).
2
Milan has the 5th lowest typical home value of the 113 cities in Tennessee with more than 5,000 people ($144,100).
3
Nearby, in Humboldt, the typical home value is $102,300: 29% less than in Milan ($144,100).
4
The typical household income in Milan is $43,886,30% less than in Gibson County as a whole ($62,755).
5
56% of households in Milan own their home, against 69% in Gibson County.
6
Nearby, in McKenzie, the typical rent is $663: 18% less than in Milan ($805).
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
Gibson County
Tennessee
United States
Kind of home: Milan and its comparisons
Measure
Milan
Gibson County
Tennessee
United States
Detached house
71%
76%
68%
61%
Attached house
Unreliable estimate
Unreliable estimate
4%
6%
Building of 2 to 4
19%
8%
6%
8%
Apartments (5 or more)
Unreliable estimate
5%
14%
19%
Mobile home
Unreliable estimate
11%
8%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
Detached houses are the majority in Milan (71%), but less so than in Gibson County (76%).
Year built
Before 19601960–19791980–19992000–20092010 or laterUnreliable estimate
Milan
Gibson County
Tennessee
United States
Year built: Milan and its comparisons
Measure
Milan
Gibson County
Tennessee
United States
Before 1960
27%
28%
18%
26%
1960–1979
32%
28%
23%
24%
1980–1999
29%
23%
29%
25%
2000–2009
Unreliable estimate
13%
16%
14%
2010 or later
7%
8%
15%
11%
In Milan, half of the homes were built before 1976; in Gibson County, before 1976.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Unreliable estimate
Under $100K28%
$100K–$200K42%
$200K–$300K19%
$300K–$500KUnreliable
$500K–$750KUnreliable
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Milan and its comparisons
Measure
Milan
Under $100K
28%
$100K–$200K
42%
$200K–$300K
19%
$300K–$500K
Unreliable estimate
$500K–$750K
Unreliable estimate
$750K–$1M
Unreliable estimate
$1M or more
Unreliable
Monthly rent with utilities
Unreliable estimate
Under $500Unreliable
$500–$99947%
$1,000–$1,499Unreliable
$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
47%
$1,000–$1,499
Unreliable estimate
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable
$2,500–$2,999
Unreliable
$3,000 or more
Unreliable
With a mortgage
$1,168 a month
Gibson County: $1,271 a month
Without a mortgage
$497 a month
Gibson County: $433 a month
Owners with a mortgage
69%
Gibson County: 55%
Owning costs less in Milan: with a mortgage, the typical cost is $1,168 a month; in Gibson County, $1,271. Without one, $497.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
MilanNo clear change
Gibson County+59%
Tennessee+72%
United States+53%
Typical rent
MilanNo clear change
Gibson County+20%
Tennessee+37%
United States+33%
Typical household income
MilanNo clear change
Gibson County+45%
Tennessee+31%
United States+29%
Change since 2015–2019: Milan and its comparisons
Measure
Milan
Gibson County
Tennessee
United States
Typical home value
No clear change
+59%
+72%
+53%
Typical rent
No clear change
+20%
+37%
+33%
Typical household income
No clear change
+45%
+31%
+29%
Since 2015–2019, home values in Milan moved so little that the Census cannot say whether they rose or fell.
Rent in Milan moved so little since 2015–2019 that the Census cannot say whether it rose or fell.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Milan and its comparisons
Measure
Milan
Gibson County
Tennessee
United States
Rental vacancy
Unreliable estimate
Unreliable estimate
6.1%
5.5%
Homeowner vacancy
Unreliable estimate
Unreliable estimate
0.9%
0.9%
More than one person per room
Unreliable estimate
1.8%
2.2%
3.4%
People per household
2.47
2.45
2.45
2.53
Drive alone
85%
83%
76%
69%
Carpool
Unreliable estimate
10%
8%
9%
Public transit
Unreliable estimate
Unreliable estimate
0%
3%
Walk or bike
Unreliable estimate
Unreliable estimate
1%
3%
Work from home
Unreliable estimate
5%
13%
15%
Other means
Unreliable estimate
2%
1%
2%
Typical commute
Unreliable estimate
20 to 29 minutes
20 to 29 minutes
20 to 29 minutes
A household in Milan has 2.47 people on average, about the same as in Gibson County (2.45).
In Milan, 85% of workers drive alone to work; in Gibson County, 83%.
Do the math
What would you pay each month for a home in Milan?
A typical home is tight for the typical income
We start with a typical home in Milan, worth $144,100, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 32% of the typical household income in Milan, which is $43,886 a year. For that payment to be 28% of income, a household would need to earn about $50,861 a year.
The calculator's FHA and conventional loan limits are those of all of Gibson 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 $5,044 (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
$1,187
at 7.18% · 30 years
Loan amount
$141,489
Total interest
$203,570
Paid off in
November 2056
Includes $2,433 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,024 a month
Tight
$1,024 to $1,317 a month
Your payment · 32%
Hard
more than $1,317 a month
Compared with the typical household income in Milan ($43,886 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$958
Property tax
$105
Home insurance
$60
FHA mortgage insurance (MIP)
$64
You need at least $5,044 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 $1,187; principal and interest $958.
The city and its county
Milan and Gibson County
Milan is in Gibson County, Tennessee. 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).
Milan
Map of Gibson County, Tennessee, with Milan marked. Around it, the neighboring counties.
Milan
Gibson County
Other cities with a page
Milan's own numbers
Typical home value
$144,100
Typical monthly rent
$805
Typical yearly household income
$43,886
Households that own their home
56%
Effective property tax rate
0.87%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Gibson County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$995
Price change over 5 years (FHFA)
+67%
Homes in a high flood-risk zone
2.5%
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 Gibson County.
A typical home in Milan is worth $144,100: 8% below the county and 50% below Tennessee. With the typical household income in Milan ($43,886 a year), a typical home costs 3.3 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.
Milan3.3 years
Gibson2.5 years
Tennessee4.1 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Gibson County
According to FHFA’s house price index, home prices in Gibson County rose 96% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Gibson County.
Yearly change in FHFA’s price index in Gibson County, 2016 to 2025
2016: −1.0% −1.0% 2016
2017: +6.2% +6.2% 2017
2018: +3.1% +3.1% 2018
2019: +4.2% +4.2% 2019
2020: +3.5% +3.5% 2020
2021: +13.6% +13.6% 2021
2022: +23.5% +23.5% 2022
2023: +12.2% +12.2% 2023
2024: +7.1% +7.1% 2024
2025: −0.7% −0.7% 2025
Change in FHFA’s price index in Gibson County, Tennessee and the United States
Period
County
Tennessee
U.S.
Last year (2025)
−0.7%
+2.4%
+2.9%
5 years (2020–2025)
+67%
+60%
+47%
10 years (2015–2025)
+96%
+114%
+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 Gibson County, Tennessee and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Milan$144,100
Gibson$156,900
Tennessee$286,700
United States$332,700
Typical monthly rent
Milan$805
Gibson$819
Tennessee$1,189
United States$1,413
Typical yearly household income
Milan$43,886
Gibson$62,755
Tennessee$69,595
United States$80,734
See the full table
Milan next to Gibson County and Tennessee
Measure
Milan
Gibson County
Tennessee
U.S.
Typical home value
$144,100 ▼8% below the county
$156,900
$286,700
$332,700
Typical monthly rent
$805
$819
$1,189
$1,413
Typical yearly household income
$43,886 ▼30% below the county
$62,755
$69,595
$80,734
Households that own their home
56% ▼13 points below the county
69%
67%
65%
Typical yearly property tax
$1,256 ▲21% above the county
$1,039
$1,442
$3,119
Effective property tax rate
0.87% ▲0.21 points above the county
0.66%
0.5%
0.94%
Renters with high rent for their income
63% ▲20 points above the county
44%
49%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Gibson 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 $144,100 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$1,187a month
Least cash to close
Down payment
$5,044
Cash to close
$9,367
Rate
7.18%
Mortgage insurance
FHA MIP · $64
Conventional, 5% down$1,160a month
Down payment
$7,205
Cash to close
$11,528
Rate
7.18%
Mortgage insurance
PMI · $68
Conventional, 20% down, no PMI$945a month
Down payment
$28,820
Cash to close
$33,143
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$1,079a month
Down payment
$21,615
Cash to close
$25,938
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
$1,187
$5,044
$141,490
7.18%
FHA MIP · $64
$9,367
580
Conventional, 5% down
$1,160
$7,205
$136,895
7.18%
PMI · $68
$11,528
620*
Conventional, 20% down, no PMI
$945
$28,820
$115,280
7.18%
None
$33,143
620*
ITIN, 15% down (example)
$1,079
$21,615
$122,485
8.18%
None
$25,938
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.
Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Milan and for Gibson County.
Property tax
Effective rate in Milan
0.87%of the home’s value each year
$1,256 a year for the typical owner in Milan.
Milan0.87%
Gibson0.66%
Tennessee0.5%
What Tennessee publishesProperty tax relief for older, disabled and disabled-veteran homeowners (Tennessee Comptroller of the Treasury, 2026 Property Tax Relief Program brochure)
Typical rent in Milan is $805 a month: about the same as the county. In Milan, 63% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Gibson County, by unit size. To pay the 2-bedroom one ($995 a month) without spending more than 30% of your income, you would need to earn $19.13 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 Gibson County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$693
$13.33
$27,720
1 bedroom
$761
$14.63
$30,440
2 bedrooms
$995
$19.13
$39,800
3 bedrooms
$1,378
$26.50
$55,120
4 bedrooms
$1,573
$30.25
$62,920
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 38358.
For 2 bedrooms it is $1,000: $5 more than the fair market rent for Gibson County ($995).
Fair market rent by ZIP code and size in Milan, fiscal year 2027.
ZIP code
Studio
1 bd
2 bd
3 bd
4 bd
38358
$700
$760
$1,000
$1,380
$1,580
ZIP code2 bd3 bd
38358 $1,000$1,380
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)
HUD lists 5 buildings with rents for lower incomes in Milan. These are the largest.
Northside Terrace & Westwood Manor1063 Northside Ter, Milan 38358100 low-income homes · Run by Milan Housing Authority · Average payment: $444 a month · Average wait: 5 months · Homes at several sites(731) 686-8571
Heritage Villas Apts4040 Reasons Blvd, Milan 3835848 low-income homes · 1 bd: 24 · 2 bd: 24 · In service since 2016 · For families
Meadows of Milan Apts4051 Reasons Blvd, Milan 3835848 low-income homes · 2 bd: 40 · 3 bd: 8 · In service since 2003 · For families
Oakwood Manor Apartments235 Oakwood Cir, Milan 3835834 low-income homes · For families(731) 686-3366
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.
We found no HUD-approved agencies with an office in Gibson County. The nearest ones are below; many serve by phone or online.
No down payment, repair or rent-help program on our list is for Milan or Gibson County. The ones below are statewide in Tennessee: they work in Milan the same as in the rest of the state.
Tennessee state agency help with the down payment and closing costs alongside the Great Choice mortgage: $6,000 or $10,000 forgivable over 10 years with no payments, or up to 5% of the price (maximum $15,000) as a 30-year second mortgage.Offered by Tennessee Housing Development Agency (THDA).
No legal help resource on our list is for Milan or Gibson 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 Gibson 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 $144,100, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Gibson County it is $156,900.
How much does it cost to rent in Milan?
Typical rent in Milan is $805 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Gibson County is $995.
What is the FHA loan limit in Milan?
Milan uses the FHA limit for all of Gibson 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 $1,256 a year, according to the U.S. Census Bureau. That is 0.87% of the home’s value; in Gibson County, the rate is 0.66%.
Where can I find free help to buy or rent in Milan?
We found no HUD-approved counseling agencies with an office in Gibson County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.
