Total monthly cost of ownership
Cost to Own a Home in Milan, Missouri
A $90,000 home here costs
$834per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $463. The real number is $371 higher every month — 80% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Milan against Sullivan County and Missouri
| Measure | Milan | Sullivan County |
|---|---|---|
| Median home value | $89,700 | $103,300 |
| Median property tax | $696 | $760 |
| Effective tax rate | 0.776% | 0.736% |
| Median gross rent | $699 | $692 |
| Population | 1,883 | 5,903 |
The weather behind that power bill
Milan sits in Sullivan County, which averages a high of 85.2°F in its hottest month and a low of 17.8°F in its coldest, with 40.07" of precipitation a year and 38% of it in a single three-month stretch. That climate drives 1,053 cooling and 5,562 heating degree days, which is what sets the $123 electricity line above.
See the full climate breakdown for Sullivan County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Sullivan County
No other places of this size are published in Sullivan County.
Full Sullivan County cost breakdown · Every county in Missouri
Common questions
How much does it cost to own a home in Milan?
A $90,000 home in Milan, Missouri costs approximately $834 per month with 20% down at 6.66%. That is $463 principal and interest, $58 property tax, $47 homeowners insurance, $191 utilities and $75 set aside for maintenance.
What is the property tax rate in Milan?
Milan has an effective property tax rate of 0.776%, based on a median home value of $89,700 and median real estate taxes of $696. That is higher than the Sullivan County average of 0.736%.
What is the average home price in Milan?
The median owner-occupied home value in Milan, Missouri is $89,700, against $103,300 across Sullivan County.
Is it cheaper to rent or buy in Milan?
Median gross rent in Milan is $699 a month, against $834 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Milan — US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance — NAIC average premium for Missouri.
- Electricity price — EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate — Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.