Milroy, IN
Population 629 · Indiana
About Milroy, IN
Milroy is a small community located in Indiana with a population of 629 residents according to the latest US Census Bureau American Community Survey data. The median household income is $81,875 per year, which is 9% above the national median of $75,149. The median age of 52.7 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 Milroy features a median home value of $105,000, which is 57% below the national median of $244,900. This makes Milroy one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $0, 100% below the national average of $1,163/month. Of the 378 total housing units, 96% are owner-occupied (264 units) and 4% are renter-occupied (11 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Milroy shows an unemployment rate of 0.8%, which is lower than the national rate of 3.7%, indicating a relatively strong job market. The poverty rate stands at 3.1%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Milroy have an average one-way commute time of 33.3 minutes.
Education & Demographics
21.8% of Milroy 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 0.3% White, 0.2% Hispanic or Latino, 0.0% Black or African American, and 0.2% Asian residents, with 0.5% of the population being foreign-born.
How Milroy Ranks in Indiana
Cost of Living in Milroy, IN
Compared to national averages, Milroy has a median household income of $81,875 (9% above the national median of $75,149). Home values average $105,000, which is 57% below the national median. Monthly rent at $0 is 100% below the US average of $1,163. Within Indiana, Milroy's income is 18% above the state average of $69,330, and home values are 36% below the state median of $163,409.
Why Live in Milroy, IN?
Milroy offers a strong local economy with a median household income of $81,875, well above the national average, and affordable housing with a median home value of $105,000, below the US average of $244,900, and rent that’s lower than the national average at $0/month. Additionally, the city features a strong job market with an unemployment rate of just 0.8%, and a low poverty rate of 3.1%, better than the national average.
Milroy has a population of 629 with a median age of 52.7 years. Compare Milroy with other cities to see how it stacks up, or explore all cities in Indiana.
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Demographics
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Economy & Education
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Other Cities in Indiana
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Milroy
What is the population of Milroy, IN?
The population of Milroy, IN is 629 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Indiana.
What is the median household income in Milroy?
The median household income in Milroy, IN is $81,875 per year, which is 9% above the national median of $75,149.
What is the median home value in Milroy?
The median home value in Milroy, IN is $105,000, which is 57% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Milroy?
The median monthly rent in Milroy, IN is $0, which is 100% below the national average of $1,163/month.
What is the unemployment rate in Milroy?
The unemployment rate in Milroy, IN is 0.8%, compared to the national average of 3.7%. This lower-than-average rate suggests a relatively healthy local job market.
Is Milroy, IN a good place to live?
Milroy offers above-average incomes, affordable housing, and a strong job market. With a population of 629 and a median age of 52.7, the city appeals to established professionals and retirees.
How educated is Milroy, IN?
21.8% of residents in Milroy 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 Milroy?
Key cost-of-living indicators for Milroy, IN: median home value is $105,000 (57% below national), median rent is $0/month, and median household income is $81,875. The home-value-to-income ratio is 1.3x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Milroy?
The poverty rate in Milroy, IN is 3.1%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Milroy, IN?
Milroy's population is 0.3% White, 0.2% Hispanic or Latino, 0.0% Black or African American, 0.2% Asian, and 0.0% two or more races. 0.5% of residents are foreign-born.