Cost of Living in Milton, IL

With a cost of living index of 81, Milton, IL is a very affordable place to live. Living here is 19% cheaper than the national average and in line with the Illinois state average. Milton is a small community of 188 residents.

Housing costs are the biggest factor in Milton's cost of living. The median monthly rent is $1,350 (2% above the US median of $1,319), and the median home value sits at $73,600 (76% below the national median of $304,900). At current prices, the median home costs roughly 1.5x the median household income — well within traditional affordability guidelines.

The median household income in Milton is $48,365, which is 36% lower than the national median of $75,149. Residents spend roughly 33% of household income on rent. This exceeds the recommended 30% threshold, meaning many renters here are cost-burdened. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Milton. The area sees an average annual temperature of 53°F, with summers averaging 75°F and winters around 30°F. Annual rainfall totals 36.4 inches spread over roughly 109 days.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.