In a medium pot, bring water to a boil. Stir in oats and salt; reduce heat to medium low and simmer, uncovered, for 20-25 minutes, stirring occasionally. About halfway through, stir in the dried figs.
When most of the water has been absorbed, stir in the milk and vanilla. Allow to simmer for about another 10 minutes, or until oatmeal reaches desired consistency. Serve with your favorite toppings, such as brown sugar or agave, dried fruit, toasted pecans or more milk.