Housing in Milan, NM

Home values, rent, ownership rates, and housing market data

Housing Market Snapshot

Source: Redfin — September 2025

Median Sale Price

$342,000

Median List Price

N/A

Price Per Sq Ft

$133

Days on Market

247

Active Inventory

3

Months of Supply

3.0

Seller's market

Price Trends

Source: Redfin
Sale Price ↑ 77.7%List Price ↓ 77.5%Apr 24 → Sep 25

Market Competitiveness

Source: Redfin

Sold Above List

0.0%

Sale-to-List Ratio

92.4%

Buyer's market

Sold Above Asking
0.0%

Market Activity

Source: Redfin

Homes Sold

1

Homes Sold ↓ 50.0%New Listings ↑ 0.0%Pending ↓ 66.7%Apr 24 → Sep 25

Price Per Square Foot

Source: Redfin

Median Sale $/SF

$133

Sale $/SF ↑ 87.3%List $/SF ↓ 78.3%Apr 24 → Sep 25

Milan vs Similar Cities

Source: Census ACS / Redfin (2023)

Compared to cities with under 10,000 residents. Milan is highlighted.

Median Home Value

Median Rent

Median Price Per Sq Ft

Rent Burden

Census Housing Data

Source: U.S. Census Bureau ACS (2023)

Median Home Value

$71,300

Median Rent

$828

Total Housing Units

1,094

Vacancy Rate

17.6%

Owner Occupied

61.8%

Renter Occupied

38.2%

Median Property Tax

$657

per year

Monthly Cost (w/ Mortgage)

$531

Housing Types

Single Family
45.3%
Multi-Family
10.5%
Mobile Home
44.2%

The current median sale price in Milan, NM is $342,000 according to Redfin data. Homes spend a median of 247 days on the market. 0.0% of homes sold above asking price. The market has 3.0 months of supply. The median price per square foot is $133. The median rent is $828 per month (Census ACS). About 61.8% of housing units are owner-occupied. The median year homes were built is 1974. There are 1,094 total housing units.