According to statistics, the population in Milan, MI amounts to 5,965, which shows decline 1% compared to the previous year. The median age of the city’s residents is 37. The average household income is $68,403, shifting growth 5% from the past year, and the average property value in Milan, MI growth 5% to $145,100 throughout the year.
|Number Of Employees||2,724|
|Median Property Value||$145,100|
The average household income in Milan, MI grew from $65,326 to $68,403 in the past year. This data is an estimate based upon 2,085 households in Milan, MI . The chart below presents how household income is distributed in Milan, MI in comparison to the revenue allocation amid households nationally.
According to data from last year, the average property value in Milan, MI shifted from $137,900 to $145,100 throughout the year. The subsequent graph indicates the share of properties in the given price range in Milan, MI in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Milan, MI properties falls in the '$150,000 to $174,999' range, which is lower than the most significant median property across the country.
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Milan, MI compared to median property taxes around the country. The prevalent amount of property taxes in Milan, MI equals $2500, which is less than the national average.
|Apartment Size||Oct||vs Last Month|
|2 bed for sale||$173,266||N/A|
|3 bed for sale||$234,833||-12.5%|
|4+ bed for sale||$298,983||+58.2%|
During Oct 2021, the average price for an apartment in/near Milan, MI decreased by 5.2% to $235,571.
Asking price for 2-bed apartment remains the same, a place of this size will still cost you $173,266. Reports state that an average 3-bed apartment price did not change, so you can still get yourself one for $234,833. 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 $298,983 for a big-family home.
|Listing Type||Oct||vs Last Month|
|Lofts for sale||$229,900||N/A|
|Houses for sale||$243,526||-4.4%|
|Condos for sale||$160,000||N/A|
According to statistics, average house is still $243,526 with no significant changes this month. Condo prices remain stable. Condo for sale is now available for the same pricing as previously — $160,000. The price statistics of lofts have not significantly changed, it now still goes for $229,900.
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