The typical owner-occupied home in Lake Milton is worth about $493,800, 2.3 times the Ohio median of $214,800 and 48% above the national median of $332,700. Owners pay a median $4,611 a year in property taxes, about 0.93% of their home's value, lower than the Ohio rate of 1.31%. The median household earns $109,688 a year, so the median home costs 4.5 times the median income (3.0 times for Ohio). 88% of occupied homes here are lived in by their owners, and 64% of those owners still have a mortgage.
Lake Milton at a glance
| Lake Milton | Ohio | U.S. | |
|---|---|---|---|
| Median home value | $493,800 | $214,800 | $332,700 |
| Median property tax paid per year | $4,611 | $2,822 | $3,119 |
| Property tax as a share of value | 0.93% | 1.31% | 0.94% |
| Median household income | $109,688 | $71,389 | $80,734 |
| Homes lived in by their owners | 88% | 67% | 65% |
| Owner homes with a mortgage | 64% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,591 | $1,517 | $1,963 |
| Those costs as a share of the owners' income | 20.8% | 18.6% | 21.0% |
| Median rent | $835 | $1,034 | $1,413 |
| Rent as a share of renters' income | 18.5% | 28.3% | 30.6% |
| Median year homes were built | 1965 | 1970 | 1980 |
| Vacant homes | 50.3% | 8.1% | 10.1% |
| Population | 548 | 11,810,293 | 334,922,499 |
What a typical home costs per month in Lake Milton
At this week's average 30-year rate of 7.11%, buying the median Lake Milton home of $493,800 with 20% down costs about $3,246 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $4,069, 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 $139,110 for the 20%-down payment. That payment is 36% of the median Lake Milton household income of $109,688; at that income and 20% down, the 28% guideline points to a home of about $389,000.
The median rent here is $835 a month, so owning the median home costs about $2,411 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $98,760 |
|---|---|
| Loan amount | $395,040 |
| Principal and interest | $2,657 |
| Property taxes (0.93% a year) | $383 |
| Homeowners insurance (our estimate, 0.5% a year) | $206 |
| PMI | $0 |
| Total per month | $3,246 |
Change the numbers in the calculator
| Down payment | $17,283 |
|---|---|
| Loan amount | $484,856 |
| Principal and interest | $3,262 |
| Property taxes (0.93% a year) | $383 |
| Homeowners insurance (our estimate, 0.5% a year) | $206 |
| FHA mortgage insurance | $218 |
| Total per month | $4,069 |
Change the numbers in the calculator
Questions about home buying in Lake Milton
What is the median home value in Lake Milton?
About $493,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Lake Milton?
Homeowners pay a median $4,611 a year, which is about 0.93% 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 Lake Milton?
For the median home with 20% down at 7.11%, the payment is about $3,246 a month. Keeping that under 28% of gross income takes about $139,110 a year.
More about Lake Milton
- Mortgage Refinance in Lake Milton
- Debt Relief in Lake Milton
- Home Equity Loans in Lake 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