The typical owner-occupied home in Milam County is worth about $189,800, 33% below the Texas median of $283,800 and 43% below the national median of $332,700. Owners pay a median $1,875 a year in property taxes, about 0.99% of their home's value, lower than the Texas rate of 1.49%. The median household earns $66,141 a year, so the median home costs 2.9 times the median income (3.6 times for Texas). 77% of occupied homes here are lived in by their owners, and 39% of those owners still have a mortgage.
Milam County at a glance
| Milam County | Texas | U.S. | |
|---|---|---|---|
| Median home value | $189,800 | $283,800 | $332,700 |
| Median property tax paid per year | $1,875 | $4,232 | $3,119 |
| Property tax as a share of value | 0.99% | 1.49% | 0.94% |
| Median household income | $66,141 | $78,476 | $80,734 |
| Homes lived in by their owners | 77% | 63% | 65% |
| Owner homes with a mortgage | 39% | 56% | 61% |
| Median monthly costs, owners with a mortgage | $1,761 | $2,106 | $1,963 |
| Those costs as a share of the owners' income | 21.0% | 21.7% | 21.0% |
| Median rent | $984 | $1,403 | $1,413 |
| Rent as a share of renters' income | 29.4% | 30.9% | 30.6% |
| Median year homes were built | 1983 | 1992 | 1980 |
| Vacant homes | 12.8% | 9.4% | 10.1% |
| Population | 25,567 | 30,188,424 | 334,922,499 |
What a typical home costs per month in Milam County
At this week's average 30-year rate of 7.11%, buying the median Milam County home of $189,800 with 20% down costs about $1,257 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,573, 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 $53,876 for the 20%-down payment. That payment is 23% of the median Milam County household income of $66,141; at that income and 20% down, the 28% guideline points to a home of about $233,000.
The median rent here is $984 a month, so owning the median home costs about $273 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $37,960 |
|---|---|
| Loan amount | $151,840 |
| Principal and interest | $1,021 |
| Property taxes (0.99% a year) | $157 |
| Homeowners insurance (our estimate, 0.5% a year) | $79 |
| PMI | $0 |
| Total per month | $1,257 |
Change the numbers in the calculator
| Down payment | $6,643 |
|---|---|
| Loan amount | $186,362 |
| Principal and interest | $1,254 |
| Property taxes (0.99% a year) | $157 |
| Homeowners insurance (our estimate, 0.5% a year) | $79 |
| FHA mortgage insurance | $84 |
| Total per month | $1,573 |
Change the numbers in the calculator
Questions about home buying in Milam County
What is the median home value in Milam County?
About $189,800 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Milam County?
Homeowners pay a median $1,875 a year, which is about 0.99% 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 Milam County?
For the median home with 20% down at 7.11%, the payment is about $1,257 a month. Keeping that under 28% of gross income takes about $53,876 a year.
More about Milam County
- Mortgage Refinance in Milam County
- Debt Relief in Milam County
- Home Equity Loans in Milam County
- 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