The typical owner-occupied home in Milton is worth about $249,200, 6% below the Wisconsin median of $266,500 and 25% below the national median of $332,700. Owners pay a median $4,320 a year in property taxes, about 1.73% of their home's value, higher than the Wisconsin rate of 1.42%. The median household earns $85,959 a year, so the median home costs 2.9 times the median income (3.4 times for Wisconsin). 74% of occupied homes here are lived in by their owners, and 72% of those owners still have a mortgage.
Milton at a glance
| Milton | Wisconsin | U.S. | |
|---|---|---|---|
| Median home value | $249,200 | $266,500 | $332,700 |
| Median property tax paid per year | $4,320 | $3,792 | $3,119 |
| Property tax as a share of value | 1.73% | 1.42% | 0.94% |
| Median household income | $85,959 | $77,485 | $80,734 |
| Homes lived in by their owners | 74% | 68% | 65% |
| Owner homes with a mortgage | 72% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,647 | $1,689 | $1,963 |
| Those costs as a share of the owners' income | 21.3% | 19.5% | 21.0% |
| Median rent | $930 | $1,087 | $1,413 |
| Rent as a share of renters' income | 22.7% | 27.2% | 30.6% |
| Median year homes were built | 1974 | 1975 | 1980 |
| Vacant homes | 1.9% | 10.8% | 10.1% |
| Population | 5,706 | 5,914,872 | 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 $249,200 with 20% down costs about $1,804 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,219, 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 $77,323 for the 20%-down payment. That payment is 25% of the median Milton household income of $85,959; at that income and 20% down, the 28% guideline points to a home of about $277,000.
The median rent here is $930 a month, so owning the median home costs about $874 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $49,840 |
|---|---|
| Loan amount | $199,360 |
| Principal and interest | $1,341 |
| Property taxes (1.73% a year) | $359 |
| Homeowners insurance (our estimate, 0.5% a year) | $104 |
| PMI | $0 |
| Total per month | $1,804 |
Change the numbers in the calculator
| Down payment | $8,722 |
|---|---|
| Loan amount | $244,686 |
| Principal and interest | $1,646 |
| Property taxes (1.73% a year) | $359 |
| Homeowners insurance (our estimate, 0.5% a year) | $104 |
| FHA mortgage insurance | $110 |
| Total per month | $2,219 |
Change the numbers in the calculator
Questions about home buying in Milton
What is the median home value in Milton?
About $249,200 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 $4,320 a year, which is about 1.73% 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 $1,804 a month. Keeping that under 28% of gross income takes about $77,323 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