Zip 47031 (Milan, IN) Housing

Milan, IN is an attractive place to buy a home, as the median value of housing in this area is $238,700. This is much lower than the US House Median Value of $338,100, making it a great option for those trying to purchase a home on a budget. Additionally, the 1 year appreciation rate for houses in Milan is 8.27%, which matches the US 1 year House Appreciation rate of 8.27%. Therefore, anyone looking to purchase a home in Milan can be sure they are making a sound decision that will likely continue to appreciate in value over time.

The median home cost in Milan (zip 47031) is $238,700. Home appreciation the last 10 years has been 66.4%. Home Appreciation in Milan (zip 47031) is up 14.6%.

Average Age of Homes

- The median age of Milan (zip 47031) real estate is 41 years old

The Rental Market in Milan (zip 47031)

- Renters make up 18.1% of the Milan (zip 47031) population
- 0.5% of houses and apartments in Milan (zip 47031), are available to rent

DID YOU KNOW

Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.

Median Monthly Rent by Number of Bedrooms

Housing by Year Built

Housing	Milan, Indiana	United States
	2,177.0	139,647,020.0
	40	42
	$238,700	$338,100
	14.6%	16.6%
	48.5%	57.0%
	66.4%	101.1%
	$5.93	$10.98
	$1,010	$2,690
	67.3%	57.4%
	8.5%	11.2%
	24.2%	31.4%
Vacant Housing
	0.5%	1.9%
	0.5%	0.4%
	0.5%	0.7%
	0.5%	0.4%
	4.9%	3.6%
	1.7%	4.1%
Value of Owner-Occupied Housing
	2.9%	2.6%
	2.7%	2.4%
	4.8%	2.8%
	4.0%	3.9%
	11.3%	4.5%
	17.1%	11.3%
	18.5%	13.0%
	16.2%	20.1%
	9.2%	13.6%
	4.2%	8.3%
	1.5%	9.7%
	7.8%	3.9%
	0.0%	2.2%
	0.0%	0.8%
	0.0%	1.1%
Housing Units by Year Structure Built
	0.0%	0.2%
	18.1%	13.6%
	18.1%	13.6%
	20.1%	13.6%
	8.5%	13.2%
	14.0%	14.8%
	20.1%	13.6%
	7.5%	10.0%
	2.4%	4.7%
	21.8%	12.2%

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