Milan, MN
Population 498 · Minnesota
About Milan, MN
Milan is a small community located in Minnesota with a population of 498 residents according to the latest US Census Bureau American Community Survey data. The median household income is $50,625 per year, which is 33% below the national median of $75,149. The median age of 31.2 years is notably younger the US median age of 38.9 years, indicating a younger, often more dynamic population base.
Housing Market Overview
The housing market in Milan features a median home value of $70,000, which is 71% 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 $1,102, 5% below the national average of $1,163/month. Of the 189 total housing units, 78% are owner-occupied (112 units) and 22% are renter-occupied (32 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Milan shows an unemployment rate of 16.2%, which is significantly above the national rate of 3.7%, suggesting economic challenges in the area. The poverty rate stands at 29.6%, above the national average of 12.4%. Workers in Milan have an average one-way commute time of 36.3 minutes, suggesting many residents commute to jobs in a nearby metro area.
Education & Demographics
17.4% 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 16.7% White, 0.4% Hispanic or Latino, 0.0% Black or African American, and 5.0% Asian residents, with 34.7% of the population being foreign-born.
Cost of Living in Milan, MN
Compared to national averages, Milan has a median household income of $50,625 (33% below the national median of $75,149). Home values average $70,000, which is 71% below the national median. Monthly rent at $1,102 is 5% below the US average of $1,163. Within Minnesota, Milan's income is 32% below the state average of $74,221, and home values are 66% below the state median of $204,472.
Why Live in Milan, MN?
Milan offers affordable housing with a median home value of $70,000, below the US average of $244,900, and rent that’s lower than the national average at $1,102/month.
Potential considerations include median household income ($50,625) 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 498 with a median age of 31.2 years. Compare Milan with other cities to see how it stacks up, or explore all cities in Minnesota.
Similar Cities Near Milan
Cities in Minnesota with a similar population size.
Demographics
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Economy & Education
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Other Cities in Minnesota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
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Frequently Asked Questions about Milan
What is the population of Milan, MN?
The population of Milan, MN is 498 according to the latest US Census Bureau American Community Survey estimates. This makes it a small community in Minnesota.
What is the median household income in Milan?
The median household income in Milan, MN is $50,625 per year, which is 33% below the national median of $75,149.
What is the median home value in Milan?
The median home value in Milan, MN is $70,000, which is 71% 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, MN is $1,102, which is 5% below the national average of $1,163/month.
What is the unemployment rate in Milan?
The unemployment rate in Milan, MN is 16.2%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Milan, MN a good place to live?
Milan offers a moderate cost of living, affordable housing, and growing employment opportunities. With a population of 498 and a median age of 31.2, the city appeals to young professionals and families.
How educated is Milan, MN?
17.4% 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, MN: median home value is $70,000 (71% below national), median rent is $1,102/month, and median household income is $50,625. The home-value-to-income ratio is 1.4x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Milan?
The poverty rate in Milan, MN is 29.6%, 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, MN?
Milan's population is 16.7% White, 0.4% Hispanic or Latino, 0.0% Black or African American, 5.0% Asian, and 0.0% two or more races. 34.7% of residents are foreign-born.