Milan, TN 38358 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Milan, TN—38358

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$182,000

0.7% YoY Growth

Household Income

$65,500

46.0% YoY Growth

Days on Market

0.0% Longer YoY

Home Price Forecast

2.3%

Median Rent

$1,100

38.7% YoY Growth

1-Bed Rent

$625

N/A

2-Bed Rent

$925

10.0% YoY Growth

3-Bed Rent

$1,100

8.1% YoY Growth

Home Price Trends — Milan, TN

As of Dec '25, the median home price in Milan, TN is $182,000, with a year-over-year change of 0.7%. This indicates that home prices in Milan, TN are flat. According to Zillow, the 1-year price projection is 2.3%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$182,000	0.7%
Single Family	$182,000	0.6%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Milan, TN

As of July '25, Rentcast reports the average rent in Milan, TN is $1,470, with a year-over-year rent change of 38.7%. Per bedroom, the median rent as of July '25 in Milan, TN is studios: $4,500, 1-bedrooms: $638, 2-bedrooms: $900, 3-bedrooms: $1,240, 4-bedrooms: $2,650. The most common rental property sizes in Milan, TN are 2-bedroom and 3-bedroom, accounting for 37.9% and 32.3% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$1,100	$1,470
Studio Rent	$4,500	$4,500
1 Bed Rent	$625	$638
2 Bed Rent	$925	$900
3 Bed Rent	$1,100	$1,240
4 Bed Rent	$1,500	$2,650

Loading chart...

% of Rental Stock

Studio

1.9%

1 Bedroom

21.4%

2 Bedrooms

37.9%

3 Bedrooms

32.3%

4 Bedrooms

3.2%

5+ Bedrooms

3.3%

Property Listings — Milan, TN

As of Dec '25, Realtor.com reports that the median days on market for a home in Milan, TN is 64. This is a decrease of -9.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 14.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$200,000	-8.0%
Listing Count	51	0.0%
Listings as % of Homes	0.7%	0.0%
Days on Market	75	0.0%

Loading chart...

Demographics — Milan, TN

As of the latest ACS Survey released in 2023, Milan, TN has a population of 12,500, which has increased by 7.6% over the past 5 years. Milan, TN is a popular place for families, as children make up 32.0% of the population. The area has a poorly educated workforce, with 18.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 4.9% reporting working from home.

Metric	Latest Census	YoY % Change
Population	12,500	7.6%
% Under 18	32.0%	34.5%
% Seniors	14.1%	-20.3%
% WFH	4.9%	1,533.3%
% w/ College Degree	18.2%	-14.2%

Loading chart...

As of the latest ACS Survey released in 2023, Milan, TN is a predominantly white area, with 74.3% of the population identifying as white. The white population has shrunk by 2.7% in the last 5 years. The second most common race or ethnicity in Milan, TN is black, making up 17.2% of the population. Foreign-born residents account for 1.7% of the population in Milan, TN, and this percentage has increased by 13.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.

Race and Ethnicity

Metric	Latest Census	5-Year % Change
% White	74.3%	-2.7%
% Black	17.2%	1.2%
% Hispanic	1.6%	-30.4%
% Asian	0.4%	-66.7%
% Foreign Born	1.7%	13.3%

Loading chart...

Mortgage and Risk — Milan, TN

According to HUD data as of 2023, there were 251 mortgage originations in Milan, TN, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 64.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Milan, TN. Investor activity is low, as 9.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.

Mortgages

Metric	Zip Code Average
Total Loan Originations	251
% Conventional Loans	68.0%
% Government Loans	32.0%
% Investor Loans	9.0%
% Second Loans	1.0%
% Cash Out Refinance	12.0%

Loading chart...

Rentals and Section 8 — Milan, TN

As of 2024, the percent of homes in Milan, TN under the Section 8 program is 4.3%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Milan, TN, because HUD payments exceed market rent, while 2-bedroom units do not.

Section 8 Market Size

Total Units under HUD	174
Total Units Section 8	74
% Rentals under Section 8	4.3%
% Occupied Section 8	90.5%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	$75	$625	$700
2 Bedroom	-$25	$925	$900
3 Bedroom	$160	$1,100	$1,260
4 Bedroom	$10	$1,500	$1,510

Milan, TN—38358

Key Metrics at a Glance

Home Price Trends — Milan, TN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Milan, TN

% of Rental Stock

Property Listings — Milan, TN

Demographics — Milan, TN

Race and Ethnicity

Mortgage and Risk — Milan, TN

Mortgages

Rentals and Section 8 — Milan, TN

Section 8 Market Size

Section 8 Opportunity

Affordability — Milan, TN

Home Price to Income Ratio

Milan, TN — ZIP Code Boundary Map

Nearby ZIP Codes

Atwood, TN

Medina, TN

Bradford, TN

Humboldt, TN

Oakfield, TN

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	2.5
Median Home Price	$182,000
Median Household Income	$65,500

Milan, TN—38358

Key Metrics at a Glance

Home Price Trends — Milan, TN

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Milan, TN

% of Rental Stock

Property Listings — Milan, TN

Demographics — Milan, TN

Race and Ethnicity

Mortgage and Risk — Milan, TN

Mortgages

Rentals and Section 8 — Milan, TN

Section 8 Market Size

Section 8 Opportunity

Affordability — Milan, TN

Home Price to Income Ratio

Milan, TN — ZIP Code Boundary Map

Nearby ZIP Codes

Atwood, TN

Medina, TN

Bradford, TN

Humboldt, TN

Oakfield, TN

Frequently Asked Questions

What is the average home price in Milan, TN 38358?

How have home prices in Milan, TN 38358 changed over the past year?

What is the home price projection for Milan, TN 38358?

What are the demographics of Milan, TN 38358?

How long does it take homes to sell in Milan, TN 38358?

What is the average rent price in Milan, TN 38358?