Milan, IN
Population 1,775 · Indiana
About Milan, IN
Milan is a small town located in Indiana with a population of 1,775 residents according to the latest US Census Bureau American Community Survey data. The median household income is $54,688 per year, which is 27% below the national median of $75,149. The median age of 45 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Milan features a median home value of $136,400, which is 44% below the national median of $244,900. This makes Milan one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $906, 22% below the national average of $1,163/month. Of the 705 total housing units, 78% are owner-occupied (534 units) and 22% are renter-occupied (149 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Milan shows an unemployment rate of 2.4%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 19.4%, above the national average of 12.4%. Workers in Milan have an average one-way commute time of 31.9 minutes.
Education & Demographics
8.8% of Milan residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.0% White, 1.0% Hispanic or Latino, 0.0% Black or African American, and 0.2% Asian residents, with 0.4% of the population being foreign-born.
Cost of Living in Milan, IN
Compared to national averages, Milan has a median household income of $54,688 (27% below the national median of $75,149). Home values average $136,400, which is 44% below the national median. Monthly rent at $906 is 22% below the US average of $1,163. Within Indiana, Milan's income is 21% below the state average of $69,330, and home values are 17% below the state median of $163,409.
Why Live in Milan, IN?
Milan offers affordable housing with a median home value of $136,400, below the US average of $244,900, and rent that’s lower than the national average at $906/month, and a strong job market with an unemployment rate of just 2.4%.
Potential considerations include median household income ($54,688) that falls below the national average. However, Milan’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Milan has a population of 1,775 with a median age of 45 years. Compare Milan with other cities to see how it stacks up, or explore all cities in Indiana.
Similar Cities Near Milan
Cities in Indiana with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Monon | 1,764 | $52,569 | $84,600 | Compare |
| Aberdeen | 1,761 | $97,344 | $344,500 | Compare |
| Frankton | 1,789 | $64,500 | $120,200 | Compare |
| Dunkirk | 1,760 | $46,250 | $65,000 | Compare |
| French Lick | 1,790 | $54,412 | $79,600 | Compare |
| Kentland | 1,759 | $56,442 | $103,200 | Compare |
| Haubstadt | 1,754 | $72,104 | $220,000 | Compare |
| Henryville | 1,804 | $77,440 | $190,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Milan With Other Cities
Frequently Asked Questions about Milan
What is the population of Milan, IN?
The population of Milan, IN is 1,775 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Indiana.
What is the median household income in Milan?
The median household income in Milan, IN is $54,688 per year, which is 27% below the national median of $75,149.
What is the median home value in Milan?
The median home value in Milan, IN is $136,400, which is 44% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Milan?
The median monthly rent in Milan, IN is $906, which is 22% below the national average of $1,163/month.
What is the unemployment rate in Milan?
The unemployment rate in Milan, IN is 2.4%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Milan, IN a good place to live?
Milan offers a moderate cost of living, affordable housing, and a strong job market. With a population of 1,775 and a median age of 45, the city appeals to a broad range of residents.
How educated is Milan, IN?
8.8% of residents in Milan aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Milan?
Key cost-of-living indicators for Milan, IN: median home value is $136,400 (44% below national), median rent is $906/month, and median household income is $54,688. The home-value-to-income ratio is 2.5x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Milan?
The poverty rate in Milan, IN is 19.4%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Milan, IN?
Milan's population is 0.0% White, 1.0% Hispanic or Latino, 0.0% Black or African American, 0.2% Asian, and 0.0% two or more races. 0.4% of residents are foreign-born.