The typical owner-occupied home in Milton is worth about $264,800, 22% above the Louisiana median of $216,500 and 20% below the national median of $332,700. Owners pay a median $1,570 a year in property taxes, about 0.59% of their home's value, higher than the Louisiana rate of 0.55%. The median household earns $105,625 a year, so the median home costs 2.5 times the median income (3.6 times for Louisiana). 90% of occupied homes here are lived in by their owners, and 76% of those owners still have a mortgage.
Milton at a glance
| Milton | Louisiana | U.S. | |
|---|---|---|---|
| Median home value | $264,800 | $216,500 | $332,700 |
| Median property tax paid per year | $1,570 | $1,180 | $3,119 |
| Property tax as a share of value | 0.59% | 0.55% | 0.94% |
| Median household income | $105,625 | $60,756 | $80,734 |
| Homes lived in by their owners | 90% | 67% | 65% |
| Owner homes with a mortgage | 76% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,731 | $1,604 | $1,963 |
| Those costs as a share of the owners' income | 17.5% | 20.4% | 21.0% |
| Median rent | – | $1,064 | $1,413 |
| Rent as a share of renters' income | 51.0% | 32.8% | 30.6% |
| Median year homes were built | 1993 | 1983 | 1980 |
| Vacant homes | 5.5% | 14.4% | 10.1% |
| Population | 2,793 | 4,611,961 | 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 $264,800 with 20% down costs about $1,666 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,107, 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 $71,382 for the 20%-down payment. That payment is 19% of the median Milton household income of $105,625; at that income and 20% down, the 28% guideline points to a home of about $392,000.
| Down payment | $52,960 |
|---|---|
| Loan amount | $211,840 |
| Principal and interest | $1,425 |
| Property taxes (0.59% a year) | $130 |
| Homeowners insurance (our estimate, 0.5% a year) | $110 |
| PMI | $0 |
| Total per month | $1,666 |
Change the numbers in the calculator
| Down payment | $9,268 |
|---|---|
| Loan amount | $260,004 |
| Principal and interest | $1,749 |
| Property taxes (0.59% a year) | $130 |
| Homeowners insurance (our estimate, 0.5% a year) | $110 |
| FHA mortgage insurance | $117 |
| Total per month | $2,107 |
Change the numbers in the calculator
Questions about home buying in Milton
What is the median home value in Milton?
About $264,800 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 $1,570 a year, which is about 0.59% 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 $1,666 a month. Keeping that under 28% of gross income takes about $71,382 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