Market Overview
Home Prices in Milroy, IN
The median home value in Milroy, IN is $255,234 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.7% compared to a year ago and up 9.4% from two years prior.
Compared to the U.S. national median of $410,000, homes in Milroy are priced38% below average. Milroy is part of the Greensburg, IN metro area.
Over the past five years, Milroy home values have risen by approximately46.3%, reflecting strong long-term appreciation in this market.
Price History
Milroy Home Price Trend
City Comparison
Milroy vs. National Median
At $255,234, homes in Milroy cost 38% below the national median of $410,000. This makes Milroy a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Milroy?
20% Down Payment
$51,047
on $255,234
Monthly P&I
$1,331/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,690/mo
incl. taxes & insurance
Income Needed
$67,600
gross annual (30% rule)
10% Down Option
$25,523
+ PMI applies
Loan Amount (20% dn)
$204,187
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Milroy, IN?
The median home value in Milroy is $255,234 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.7% year-over-year.
How much have home prices changed in Milroy?
Over the past year, home values in Milroy have increased by 4.7%. Over five years, prices have risen approximately 46.3%.
How much do I need to earn to buy a home in Milroy?
To comfortably afford the median home price of $255,234 with a 20% down payment ($51,047) at today's rates (6.8%), you'd need a gross annual income of approximately $67,600. This assumes keeping total housing costs at or below 30% of gross income.
How does Milroy compare to the national average home price?
The national median home value is approximately $410,000. At $255,234, homes in Milroy are 38% below the national average.
What metro area is Milroy part of?
Milroy is part of the Greensburg, IN metropolitan area. Home prices and market conditions can vary across the broader metro region.