The typical owner-occupied home in Miltona is worth about $184,100, 44% below the Minnesota median of $329,300 and 45% below the national median of $332,700. Owners pay a median $1,802 a year in property taxes, about 0.98% of their home's value, close to the Minnesota rate of 1.02%. The median household earns $62,917 a year, so the median home costs 2.9 times the median income (3.7 times for Minnesota). 75% of occupied homes here are lived in by their owners, and 78% of those owners still have a mortgage.
Miltona at a glance
| Miltona | Minnesota | U.S. | |
|---|---|---|---|
| Median home value | $184,100 | $329,300 | $332,700 |
| Median property tax paid per year | $1,802 | $3,357 | $3,119 |
| Property tax as a share of value | 0.98% | 1.02% | 0.94% |
| Median household income | $62,917 | $89,062 | $80,734 |
| Homes lived in by their owners | 75% | 72% | 65% |
| Owner homes with a mortgage | 78% | 64% | 61% |
| Median monthly costs, owners with a mortgage | $1,115 | $1,947 | $1,963 |
| Those costs as a share of the owners' income | 18.5% | 19.7% | 21.0% |
| Median rent | $858 | $1,280 | $1,413 |
| Rent as a share of renters' income | 24.7% | 29.2% | 30.6% |
| Median year homes were built | 1979 | 1979 | 1980 |
| Vacant homes | 0.0% | 9.3% | 10.1% |
| Population | 418 | 5,739,445 | 334,922,499 |
What a typical home costs per month in Miltona
At this week's average 30-year rate of 7.11%, buying the median Miltona home of $184,100 with 20% down costs about $1,218 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,525, 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 $52,192 for the 20%-down payment. That payment is 23% of the median Miltona household income of $62,917; at that income and 20% down, the 28% guideline points to a home of about $222,000.
The median rent here is $858 a month, so owning the median home costs about $360 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $36,820 |
|---|---|
| Loan amount | $147,280 |
| Principal and interest | $991 |
| Property taxes (0.98% a year) | $150 |
| Homeowners insurance (our estimate, 0.5% a year) | $77 |
| PMI | $0 |
| Total per month | $1,218 |
Change the numbers in the calculator
| Down payment | $6,444 |
|---|---|
| Loan amount | $180,765 |
| Principal and interest | $1,216 |
| Property taxes (0.98% a year) | $150 |
| Homeowners insurance (our estimate, 0.5% a year) | $77 |
| FHA mortgage insurance | $81 |
| Total per month | $1,525 |
Change the numbers in the calculator
Questions about home buying in Miltona
What is the median home value in Miltona?
About $184,100 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Miltona?
Homeowners pay a median $1,802 a year, which is about 0.98% 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 Miltona?
For the median home with 20% down at 7.11%, the payment is about $1,218 a month. Keeping that under 28% of gross income takes about $52,192 a year.
More about Miltona
- Mortgage Refinance in Miltona
- Debt Relief in Miltona
- Home Equity Loans in Miltona
- 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