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Milroy

Learn about the people, housing, costs and businesses in Milroy, Indiana

Median Home$176,000
Median Rent$818/month
Population527
Leading IndustriesFinance & Insurance · Retail · Wholesale Trade9% finance & insurance
Home Value Growth⬆⬆⬆+30.6% over 2 years
Retirees25% of residentsabove average nationally
Homeowners82% of occupied units
Milroy
IN

Frequently Asked Questions

What are today's mortgage rates in Milroy?

As of today, the 30-year fixed mortgage rate for Milroy is approximately 7.017% (7.057% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Milroy?

The median home value in Milroy is $176k. The median monthly rent is $818. Annual property taxes average $907. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Milroy?

Home values in Milroy have increased 30.6% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Milroy?

Based on a typical all-in ownership cost of $831/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $36k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Milroy is $68k/year.

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What industries drive the economy in Milroy?

The largest employment sectors in Milroy are retail (21%) and public administration (18%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.