The typical owner-occupied home in Milton is worth about $933,200, 66% above the Massachusetts median of $562,100 and 2.8 times the national median of $332,700. Owners pay a median $9,677 a year in property taxes, about 1.04% of their home's value, close to the Massachusetts rate of 1.07%. The median household earns $188,529 a year, so the median home costs 4.9 times the median income (5.4 times for Massachusetts). 85% of occupied homes here are lived in by their owners, and 71% of those owners still have a mortgage.
Milton at a glance
| Milton | Massachusetts | U.S. | |
|---|---|---|---|
| Median home value | $933,200 | $562,100 | $332,700 |
| Median property tax paid per year | $9,677 | $5,992 | $3,119 |
| Property tax as a share of value | 1.04% | 1.07% | 0.94% |
| Median household income | $188,529 | $103,960 | $80,734 |
| Homes lived in by their owners | 85% | 63% | 65% |
| Owner homes with a mortgage | 71% | 66% | 61% |
| Median monthly costs, owners with a mortgage | $3,808 | $2,726 | $1,963 |
| Those costs as a share of the owners' income | 19.1% | 21.9% | 21.0% |
| Median rent | $1,474 | $1,762 | $1,413 |
| Rent as a share of renters' income | 28.1% | 30.9% | 30.6% |
| Median year homes were built | 1945 | 1964 | 1980 |
| Vacant homes | 2.6% | 8.1% | 10.1% |
| Population | 28,587 | 7,044,056 | 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 $933,200 with 20% down costs about $6,220 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $7,924, 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 $266,562 for the 20%-down payment. That payment is 40% of the median Milton household income of $188,529; at that income and 20% down, the 28% guideline points to a home of about $660,000.
The median rent here is $1,474 a month, so owning the median home costs about $4,746 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $186,640 |
|---|---|
| Loan amount | $746,560 |
| Principal and interest | $5,022 |
| Property taxes (1.04% a year) | $809 |
| Homeowners insurance (our estimate, 0.5% a year) | $389 |
| PMI | $0 |
| Total per month | $6,220 |
Change the numbers in the calculator
| Down payment | $32,662 |
|---|---|
| Loan amount | $916,297 |
| Principal and interest | $6,164 |
| Property taxes (1.04% a year) | $809 |
| Homeowners insurance (our estimate, 0.5% a year) | $389 |
| FHA mortgage insurance | $563 |
| Total per month | $7,924 |
Change the numbers in the calculator
Questions about home buying in Milton
What is the median home value in Milton?
About $933,200 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 $9,677 a year, which is about 1.04% 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 $6,220 a month. Keeping that under 28% of gross income takes about $266,562 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