Quick facts: Milton, DE

Quick Facts

108.1
Cost of Living
above US average
3,575
Population
5.59
Crime Rate per 1000
below US average
$67,763
Median Income
below US average
$524,900
Median House Price
above US average
$2102.31
Average Rent
above US average
5%
Poverty Rate
below US average
3.2%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $67,763.

🏠

Income Needed to Buy

βœ— Stretch
$165k/year
Based on $524,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $165k vs median $67,763
🏒

Income Needed to Rent

⚠ Stretch
$90k/year
Based on $2102.31/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $90k vs median $67,763
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Milton, DE

Milton is a charming small town located in Sussex County, Delaware. Nestled near the Delaware Bay, it boasts a rich history dating back to the 17th century. The town has a population of around 2,000 residents and maintains a quaint, close-knit community atmosphere. Milton is known for its picturesque landscape, featuring beautiful parks, scenic waterways, and historic architecture, including well-preserved buildings from its former days as a shipbuilding hub. The town has a vibrant downtown area with local shops, restaurants, and art galleries, making it an attractive spot for both residents and visitors alike. Outdoor enthusiasts enjoy easy access to nearby beaches, including the popular Cape Henlopen State Park, which offers opportunities for swimming, fishing, and hiking. Milton hosts various community events throughout the year, fostering a sense of belonging among its residents. With its combination of historical charm, natural beauty, and a growing community, Milton serves as a delightful escape from the hustle and bustle of larger cities while still providing convenient access to urban amenities.

πŸ” Search & Compare Places

First Location πŸ“