A simple homemade sweetened condensed milk you can use as a 1:1 substitute for the canned version in desserts, candies, coffee drinks, and no-bake recipes.
Dissolve sugar: Add milk, sugar, and salt to a medium heavy-bottomed saucepan. Heat over medium-high, whisking just until the sugar dissolves and the milk reaches a very gentle simmer.
Simmer to reduce: Reduce heat to maintain a low simmer. Simmer uncovered, stirring occasionally to prevent scorching, until reduced by about half and thickened to a maple-syrup consistency (about 30–45 minutes).
Finish: Remove from heat and stir in vanilla. If needed, strain through a fine mesh strainer to remove any solids/foam. Cool completely (it thickens more as it cools).
Once the sugar is dissolved, avoid vigorous whisking to help prevent crystals along the sides of the pan.
If it thickens too much after chilling, microwave in 10-second bursts until pourable