Milan, MO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Milan Neighborhoods Since 2000




Milan, MO Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Milan Housing Market Information

With a population of 1,852, 700 total housing units (homes and apartments), and a median house value of $89,997, house prices in Milan are solidly below the national average.

Single-family detached homes are the single most common housing type in Milan, accounting for 71.65% of the city's housing units. Other types of housing that are prevalent in Milan include duplexes, homes converted to apartments or other small apartment buildings ( 12.34%), mobile homes or trailers ( 7.95%), and a few large apartment complexes or high rise apartments ( 6.52%).

People in Milan primarily live in small (one, two or no bedroom) single-family detached homes. Milan has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Milan built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Milan built before 1939 ( 29.18%). A lesser amount of the housing stock also hails from between 1940-1969 ( 24.91%). There's also some housing in Milan built between 2000 and later ( 9.25%).

Vacant housing appears to be an issue in Milan. Fully 16.96% of the housing stock is classified as vacant. Left unchecked, vacant Milan homes and apartments can be a drag on the real estate market, holding Milan real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Milan Home Appreciation Rates

Appreciation rates for homes in Milan have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 11.21%, which ranks in the top 30% nationwide. This equates to an annual average Milan house appreciation rate of 1.07%.

Over the last year, Milan appreciation rates have trailed the rest of the nation. In the last twelve months, Milan's appreciation rate has been 2.55%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Milan were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to Missouri, our data show that Milan's latest annual appreciation rate is lower than 50% of the other cities and towns in Missouri.

Average Home Values

 

Median Home Value:
$89,997

Milan, MO HOME PRICES

Value Range
> $1,092,000 3.4
$819,001 - $1,092,000 0.0
$546,001 - $819,000 0.0
$437,001 - $546,000 1.3
$327,001 - $437,000 1.5
$219,001 - $327,000 3.4
$109,001 - $219,000 20.2
$54,001 - $109,000 49.9
$0 - $54,000 20.3

Low for MO
Very Low for Nation

Value Relative to Nation Value Relative to State
83.9827727645611 79.6

Number Of Homes And Apartments:
700

Milan Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MO*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
56.27% 2.62% 9 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$766 / per month

Homeownership Rate

Homeownership
Owners 55.66
Renters 44.34
Vacant 16.96

Housing Market Details

 

Age of Homes

AGE OF Milan HOMES
2000 or Newer 9.3
1970 - 1999 36.7
1940 - 1969 24.9
1939 or Older 29.2

Types of Homes

TYPE OF Milan HOMES
Single-Family 71.6
Townhomes 0.4
Small Apt. Buildings 12.3
Apt. Complexes 6.5
Mobile Homes 7.9
Other 1.2

Home Size

SIZE OF Milan HOMES
No Bedroom 0.24
1 Bedroom 17.08
2 Bedrooms 32.03
3 Bedrooms 37.60
4 Bedrooms 7.83
5 or more bedrooms 5.22

Popular Neighborhoods in Milan

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Zip Codes in Milan, MO