The typical owner-occupied home in Milton is worth about $407,000, 16% above the Delaware median of $352,000 and 22% above the national median of $332,700. Owners pay a median $1,311 a year in property taxes, about 0.32% of their home's value, lower than the Delaware rate of 0.50%. The median household earns $80,875 a year, so the median home costs 5.0 times the median income (4.1 times for Delaware). 80% of occupied homes here are lived in by their owners, and 61% of those owners still have a mortgage.
Milton at a glance
| Milton | Delaware | U.S. | |
|---|---|---|---|
| Median home value | $407,000 | $352,000 | $332,700 |
| Median property tax paid per year | $1,311 | $1,768 | $3,119 |
| Property tax as a share of value | 0.32% | 0.50% | 0.94% |
| Median household income | $80,875 | $84,954 | $80,734 |
| Homes lived in by their owners | 80% | 73% | 65% |
| Owner homes with a mortgage | 61% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,480 | $1,816 | $1,963 |
| Those costs as a share of the owners' income | 19.5% | 20.0% | 21.0% |
| Median rent | $1,310 | $1,401 | $1,413 |
| Rent as a share of renters' income | 29.1% | 29.9% | 30.6% |
| Median year homes were built | 2002 | 1987 | 1980 |
| Vacant homes | 13.7% | 13.4% | 10.1% |
| Population | 3,567 | 1,021,191 | 334,922,499 |
What a typical home costs per month in Milton
At this week's average 30-year rate of 7.11%, buying the median Milton home of $407,000 with 20% down costs about $2,468 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $3,146, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $105,791 for the 20%-down payment. That payment is 37% of the median Milton household income of $80,875; at that income and 20% down, the 28% guideline points to a home of about $311,000.
The median rent here is $1,310 a month, so owning the median home costs about $1,158 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $81,400 |
|---|---|
| Loan amount | $325,600 |
| Principal and interest | $2,190 |
| Property taxes (0.32% a year) | $109 |
| Homeowners insurance (our estimate, 0.5% a year) | $170 |
| PMI | $0 |
| Total per month | $2,468 |
Change the numbers in the calculator
| Down payment | $14,245 |
|---|---|
| Loan amount | $399,628 |
| Principal and interest | $2,688 |
| Property taxes (0.32% a year) | $109 |
| Homeowners insurance (our estimate, 0.5% a year) | $170 |
| FHA mortgage insurance | $180 |
| Total per month | $3,146 |
Change the numbers in the calculator
Questions about home buying in Milton
What is the median home value in Milton?
About $407,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Milton?
Homeowners pay a median $1,311 a year, which is about 0.32% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Milton?
For the median home with 20% down at 7.11%, the payment is about $2,468 a month. Keeping that under 28% of gross income takes about $105,791 a year.
More about Milton
- Mortgage Refinance in Milton
- Debt Relief in Milton
- Home Equity Loans in Milton
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data