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Milan, IN Profile: Facts & Data

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Milan, Indiana - Basic Facts

The Town of Milan had a population of 1,857 as of July 1, 2025.

The primary coordinate point for Milan is located at latitude 39.1212 and longitude -85.1313 in Ripley County. The formal boundaries for the Town of Milan encompass a land area of 2 sq. miles and a water area of 0.03 sq. miles. Ripley County is in the Eastern time zone (GMT -5).

The Town of Milan has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Town of Milan is located within Township of Franklin, a minor civil division (MCD) of Ripley County.


Jump to... (On This Page!)
  1. Milan 2025 Demographic Data
  2. Growth Rates for Milan (Historical & 5-Year Forecast)
  3. Peer Comparisons (Rank and Percentile)
  1. Neighborhoods Demographics (Home Values, Household Income, etc.)
  2. Indiana Research Tools (Easy Tools & Current Data)
  3. Indiana Data Comparison Tool - 2025 Demographics
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Milan, IN Data & Demographics (As of July 1, 2025)

POPULATION

Total Population 1,857 (100%)
Population in Households 1,751 (94.3%)
Population in Families 1,361 (73.3%)
Population in Group Quarters1 106 ( 5.7%)
Population Density 933
Diversity Index2 14
 
 

INCOME

Median Household Income $72,692
Average Household Income $85,899
% of Income for Mortgage4 20%
Per Capita Income $34,482
Wealth Index5 64
Socioeconomic Status Index6 Moderate (48.8)
 

HOUSING

Total HU (Housing Units) 820 (100%)
Owner Occupied HU 572 (69.8%)
Renter Occupied HU 169 (20.6%)
Vacant Housing Units 79 ( 9.6%)
Median Home Value $229,018
Average Home Value $248,964
Housing Affordability Index3 120
 

HOUSEHOLDS

Total Households 741
Average Household Size 2.36
Family Households 465
Average Family Size 3.00
NOTES
  1. Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
  2. The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
  3. The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
  4. The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
  5. The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
  6. The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR

 2020-2025 2025-2030
Population 0.35% 0.32%
Households 0.31% 0.30%
Families   1.54%
Median Household Income   2.19%
Per Capita Income   1.54%
Owner Occupied HU   0.07%

Milan, IN - Peer Comparisons by Rank and Percentile

The table below compares Milan to the other 976 incorporated cities, towns and CDPs in Indiana by rank and percentile using July 1, 2025 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description Rank Percentile
Total Population # 241 75th
Population Density # 471 52nd
Median Household Income # 472 52nd
Housing Affordability Index # 535 55th
Per Capita Income # 533 45th
Diversity Index # 687 30th

Additional comparisons and rankings can be made with a VERY EASY TO USE Indiana Census Data Comparison Tool.

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