Market Overview
Home Prices in Milan, MO
The median home value in Milan, MO is $111,314 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2% compared to a year ago and down 17.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Milan are priced73% below average.
Over the past five years, Milan home values have fallen by approximately13.1%, reflecting softening conditions in this market.
Price History
Milan Home Price Trend
2020
$110,966
$111K
—
2021
$128,134
$128K
+15.5%
2022
$143,753
$144K
+12.2%
2023
$138,283
$138K
-3.8%
2024
$133,041
$133K
-3.8%
2025
$109,161
$109K
-17.9%
2026
$111,314
$111K
+2.0%
City Comparison
Milan vs. National Median
🏠 Milan
$111,314
National Median
$410,000
At $111,314, homes in Milan cost 73% below the national median of $410,000. This makes Milan a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Milan?
20% Down Payment
$22,263
on $111,314
Monthly P&I
$581/mo
30-yr @ 6.8%
Total Monthly Est.
~$738/mo
incl. taxes & insurance
Income Needed
$29,520
gross annual (30% rule)
10% Down Option
$11,131
+ PMI applies
Loan Amount (20% dn)
$89,051
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 Milan, MO?
The median home value in Milan is $111,314 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2% year-over-year.
How much have home prices changed in Milan?
Over the past year, home values in Milan have increased by 2%. Over five years, prices have fallen approximately 13.1%.
How much do I need to earn to buy a home in Milan?
To comfortably afford the median home price of $111,314 with a 20% down payment ($22,263) at today's rates (6.8%), you'd need a gross annual income of approximately $29,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Milan compare to the national average home price?
The national median home value is approximately $410,000. At $111,314, homes in Milan are 73% below the national average.