Milan, IN housing market
The typical Milan home is worth about $275,000, up 5.1% in a year, 6% above the Indiana typical home.
Home values, sales, trends and how Milan compares with the towns next door — updated as new data is published.
Milan at a glance
Typical home value, 2016–2026
Show as a table
| January | Milan | Indiana |
|---|---|---|
| 2017 | $142,000 | $135,000 |
| 2018 | $146,000 | $144,000 |
| 2019 | $154,000 | $154,000 |
| 2020 | $166,000 | $164,000 |
| 2021 | $188,000 | $183,000 |
| 2022 | $221,000 | $209,000 |
| 2023 | $231,000 | $227,000 |
| 2024 | $241,000 | $237,000 |
| 2025 | $257,000 | $249,000 |
| 2026 | $270,000 | $256,000 |
| August 2026 | $275,000 | $260,000 |
4.6 years of income
The typical Milan home costs about 4.6 years of the town's median household income, more than across Indiana (3.6 years).
How Milan ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $1,140
HUD's Fair Market Rent for a two-bedroom in Milan is $1,140 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Milan pay a median of $755, so moving in tends to cost more than staying put. A two-bedroom takes about 23% of the town's median household income.
Studio $790 · 4 bedrooms $1,530
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (47031, 47032; Cincinnati, OH-KY-IN 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.
Recent listings in Milan
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers.