Quick facts: Milton, WI

Quick Facts

100.2
Cost of Living
above US average
5,660
Population
5.12
Crime Rate per 1000
below US average
$78,957
Median Income
below US average
$399,900
Median House Price
above US average
$1708.75
Average Rent
above US average
5%
Poverty Rate
below US average
3.5%
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 $78,957.

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Income Needed to Buy

βœ— Stretch
$125k/year
Based on $399,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $125k vs median $78,957
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Income Needed to Rent

βœ“ Affordable
$73k/year
Based on $1708.75/month average rent
Annual income where rent = 28% of gross
πŸ“Š Median income ($78,957) exceeds requirement
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Milton, WI

Milton, Wisconsin, is a charming small city located in Rock County, known for its rich history and close-knit community. With a population of just over 5,500 residents, Milton offers a peaceful suburban lifestyle while being conveniently placed near larger urban areas like Janesville and Beloit. The city is home to several historical sites, including the Milton House Museum, which is Wisconsin's only certified Underground Railroad site. The city hosts various community events and festivals, promoting local arts, culture, and recreational activities. Outdoor enthusiasts will find plenty of opportunities to enjoy nature, with parks and trails such as the scenic Elkhorn Creek winding through the area. Milton's economy is diverse, featuring a mix of manufacturing, retail, and agriculture, which provides residents with job opportunities without straying too far from home. The community is served by several schools, making it a family-friendly environment. Overall, Milton combines small-town charm with essential amenities, making it a great place to live, work, and raise a family.

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