The typical owner-occupied home in Milton is worth about $233,100, 35% below the Florida median of $359,000 and 30% below the national median of $332,700. Owners pay a median $1,454 a year in property taxes, about 0.62% of their home's value, lower than the Florida rate of 0.76%. The median household earns $76,301 a year, so the median home costs 3.1 times the median income (4.8 times for Florida). 53% of occupied homes here are lived in by their owners, and 59% of those owners still have a mortgage.
Milton at a glance
| Milton | Florida | U.S. | |
|---|---|---|---|
| Median home value | $233,100 | $359,000 | $332,700 |
| Median property tax paid per year | $1,454 | $2,730 | $3,119 |
| Property tax as a share of value | 0.62% | 0.76% | 0.94% |
| Median household income | $76,301 | $74,568 | $80,734 |
| Homes lived in by their owners | 53% | 68% | 65% |
| Owner homes with a mortgage | 59% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,554 | $1,959 | $1,963 |
| Those costs as a share of the owners' income | 22.4% | 23.6% | 21.0% |
| Median rent | $1,455 | $1,669 | $1,413 |
| Rent as a share of renters' income | 25.1% | 35.2% | 30.6% |
| Median year homes were built | 1987 | 1988 | 1980 |
| Vacant homes | 8.8% | 14.7% | 10.1% |
| Population | 10,733 | 22,416,077 | 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 $233,100 with 20% down costs about $1,472 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,860, 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 $63,087 for the 20%-down payment. That payment is 23% of the median Milton household income of $76,301; at that income and 20% down, the 28% guideline points to a home of about $282,000.
The median rent here is $1,455 a month, so owning the median home costs about $17 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $46,620 |
|---|---|
| Loan amount | $186,480 |
| Principal and interest | $1,254 |
| Property taxes (0.62% a year) | $120 |
| Homeowners insurance (our estimate, 0.5% a year) | $97 |
| PMI | $0 |
| Total per month | $1,472 |
Change the numbers in the calculator
| Down payment | $8,158 |
|---|---|
| Loan amount | $228,878 |
| Principal and interest | $1,540 |
| Property taxes (0.62% a year) | $120 |
| Homeowners insurance (our estimate, 0.5% a year) | $97 |
| FHA mortgage insurance | $103 |
| Total per month | $1,860 |
Change the numbers in the calculator
Questions about home buying in Milton
What is the median home value in Milton?
About $233,100 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 $1,454 a year, which is about 0.62% 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 $1,472 a month. Keeping that under 28% of gross income takes about $63,087 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