Milan, IL housing market
Home prices around Milan have risen about 40% over the past 5 years.
Home values, sales, trends and how Milan compares with the towns next door — updated as new data is published.
Home prices up 40% in 5 years
The federal house price index for the ZIP codes around Milan rose 40% over the past 5 years, slower than across Illinois (47%). Prices were about flat last year.
Show as a table
| Year | Change that year | Since 2000 | Illinois since 2000 |
|---|---|---|---|
| 2025 | −0.4% | +65% | +96% |
| 2024 | +8.2% | +65% | +85% |
| 2023 | +1.9% | +53% | +73% |
| 2022 | +16% | +50% | +61% |
| 2021 | +11% | +30% | +44% |
| 2020 | +0.5% | +17% | +33% |
| 2019 | +1.8% | +17% | +32% |
| 2018 | +2.7% | +15% | +28% |
| 2017 | +13% | +12% | +25% |
| 2016 | −2% | −1.3% | +22% |
| 2015 | −9.4% | +0.7% | +19% |
| 2014 | +17% | +11% | +15% |
| 2013 | −5.1% | −5.1% | +11% |
| 2012 | −9.1% | +0.1% | +11% |
| 2011 | −5.6% | +10% | +14% |
| 2010 | −6.6% | +17% | +21% |
| 2009 | −11% | +25% | +29% |
| 2008 | −0.1% | +41% | +40% |
| 2007 | +1.1% | +41% | +45% |
| 2006 | +5.5% | +40% | +43% |
| 2005 | +11% | +32% | +35% |
| 2004 | +7.7% | +19% | +24% |
| 2003 | +2.3% | +11% | +15% |
| 2002 | +2% | +8.3% | +11% |
| 2001 | +6.1% | +6.1% | +5.6% |
| 2000 | — | — | — |
How Milan ranks on rising home prices →
Federal Housing Finance Agency House Price Index (annual, developmental) for ZIP codes 60150, 60550, 60530, 60115, covering 82% of Milan’s land, weighted by land area. It tracks repeat sales and appraisals of the same homes, so it shows how prices changed, not what homes cost.
Milan and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | Median income |
|---|---|---|---|---|
| Milan | — | −0.4%† | $1,310 | $143,500 |
| Shabbona | $281K | +5.9% | $1,250 | $81,032 |
| Afton | — | +10%† | $1,300 | $107,675 |
| Malta | $281K | +6.4% | $1,360 | $85,469 |
† FHFA price index change, where Zillow has no home value for the town.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024 · figures for a place this size carry wide margins of error.
A two-bedroom rents for about $1,310
HUD's Fair Market Rent for a two-bedroom in Milan is $1,310 a month, utilities included: roughly what a modest, recently rented unit costs.
Studio $900 · 4 bedrooms $2,150
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (60115, 60150, 60530, 60550; DeKalb County, IL HUD Metro FMR Area), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.