Milton, FL

Below Avg · 87

Florida · Population 10,485 · Updated March 2026

$1,542
Median Rent / Month
$72,676
Median Income
$195,600
Median Home Value
$1,242
Owner Costs / Month

Affordability

How far your income goes in Milton

25.5%
Rent-to-Income Ratio
Moderate
Rent takes 25-35% of median income — moderate affordability.

Tax Burden in Florida

State-level tax rates that affect your costs

0%
Income Tax (Top Rate)
6.0%
Sales Tax
0.86%
Property Tax Rate

Estimated Annual Costs

$18,504
Annual Rent
$0
State Income Tax
$1,682
Property Tax (est.)

Cost of Living Overview

Milton offers a below-average cost of living, giving residents more purchasing power compared to many US cities. With a cost index of 87 (where 100 equals the national median), Milton residents can expect to pay median rent of $1,542/month while earning a median household income of $72,676/year.

The median home value in Milton, FL is $195,600, with typical monthly owner costs around $1,242 including mortgage, insurance, and taxes. With a rent-to-income ratio of 25.5%, Milton falls within the generally affordable range, though it's approaching the 30% burden threshold.

Florida has no state income tax, which can represent significant savings compared to high-tax states. Combined with a 6.0% sales tax rate and 0.86% effective property tax rate, the overall tax environment helps keep costs manageable in Milton.

Frequently Asked Questions

Common questions about living costs in Milton

What is the cost of living in Milton, FL?
The cost of living index in Milton, FL is 87 (US average = 100). Median monthly rent is $1,542, median household income is $72,676/year, and the median home value is $195,600.
Is Milton, FL affordable?
Yes, Milton is more affordable than the national average with a cost index of 87. The rent-to-income ratio is 25.5%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Milton, FL?
The median gross rent in Milton, FL is $1,542 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $18,504.
What is the median household income in Milton?
The median household income in Milton, FL is $72,676 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Florida?
Florida has a top income tax rate of 0%, a sales tax of 6.0%, and an effective property tax rate of 0.86%. Notably, there is no state income tax.