Median price for residential apartments in Milan, IL as of Dec, 2022.
Take into account that the price depends on the location and condition of the apartment. The size and amenities might have a large influence on the asking price as well.
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15 Milan, IL, USA apartments for sale
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Milan
According to statistics, the population in Milan, IL amounts to 5,082, which shows decline 0% compared to the previous year. The median age of the city’s residents is 43. The average household income is $43,871, shifting growth 3% from the past year, and the average property value in Milan, IL growth 1% to $97,000 throughout the year.
| Population | 5,082 |
| Median Age | 42.9 |
| Poverty Rate | 12% |
| Household Income | $43,871 |
| Number Of Employees | 2,413 |
| Median Property Value | $97,000 |
Household Income
The average household income in Milan, IL grew from $42,781 to $43,871 in the past year. This data is an estimate based upon 2,496 households in Milan, IL . The chart below presents how household income is distributed in Milan, IL in comparison to the revenue allocation amid households nationally.
Property Value
According to data from last year, the average property value in Milan, IL shifted from $96,000 to $97,000 throughout the year. The subsequent graph indicates the share of properties in the given price range in Milan, IL in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Milan, IL properties falls in the '$100,000 to $124,999' range, which is lower than the most significant median property across the country.
Rent vs. Own
Property Taxes
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Milan, IL compared to median property taxes around the country. The prevalent amount of property taxes in Milan, IL equals $3000, which is less than the national average.
Housing Trends
How much does an apartment cost in Milan, IL, USA
Average apartment sale in Milan: $149,925 (-42.7%)
| Apartment Size | Dec | vs Last Month |
|---|---|---|
| Studio apartments | $20,000 | -97.8% |
| 3-bed apartments | $194,850 | +45.5% |
| 4+ bed apartments | $190,000 | N/A |
During Dec 2022, the average price for an apartment in/near Milan, IL decreased by 42.7% to $149,925.
Knowing the current property prices is key if you plan to buy a studio in Milan, IL. The average price for a studio has decreased since the last month, currently being $20,000. Asking price for 2-bed apartment remains the same, a place of this size will still cost you $70,950. A 3-bed apartment goes for $194,850, it increased by 45.5% lately. According to statistics, we now see that the 4- and more bed apartments pricing stays the same, so you can still face an estimate price around $190,000 for a big-family home.
| Listing Type | Dec | vs Last Month |
|---|---|---|
| Houses for sale | $193,233 | +88.6% |
| Land for sale | $20,000 | -97.8% |
Price reports demonstrate that house price increased by 88.6% this month making it up to $193,233. The average price of the land for sale in Milan, IL has decreased by 97.8%, and now equals $20,000.
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