Milbank, SD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Milbank, SD Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Milbank Housing Market Information

With a population of 3,192, 1,572 total housing units (homes and apartments), and a median house value of $129,965, house prices in Milbank are solidly below the national average.

Single-family detached homes are the single most common housing type in Milbank, accounting for 74.99% of the city's housing units. Other types of housing that are prevalent in Milbank include large apartment complexes or high rise apartments ( 17.09%), duplexes, homes converted to apartments or other small apartment buildings ( 3.73%), and a few row houses and other attached homes ( 3.55%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Milbank. Owner-occupied housing accounts for 68.43% of Milbank's homes, and 48.97% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Milbank built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Milbank built between 1940-1969 ( 36.90%). A lesser amount of the housing stock also hails from before 1939 ( 22.83%). There's also some housing in Milbank built between 2000 and later ( 2.72%).

Milbank Home Appreciation Rates

In the last 10 years, Milbank has experienced some of the highest home appreciation rates of any community in the nation. Milbank real estate appreciated 16.35% over the last ten years, which is an average annual home appreciation rate of 1.53%, putting Milbank in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Milbank definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Milbank appreciation rates have trailed the rest of the nation. In the last twelve months, Milbank's appreciation rate has been 1.78%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Milbank were at 0.00%, which equates to an annual appreciation rate of 0.00%.

Relative to South Dakota, our data show that Milbank's latest annual appreciation rate is lower than 90% of the other cities and towns in South Dakota.

Average Home Values

 

Median Home Value:
$129,965

Milbank, SD HOME PRICES

Value Range
> $1,095,000 0.0
$821,001 - $1,095,000 0.0
$547,001 - $821,000 1.5
$438,001 - $547,000 0.3
$329,001 - $438,000 2.3
$219,001 - $329,000 12.1
$109,001 - $219,000 38.6
$55,001 - $109,000 36.5
$0 - $55,000 8.6

Average for SD
Average for Nation

Value Relative to Nation Value Relative to State
59.8968709715223 42.5

Number Of Homes And Apartments:
1,572

Milbank Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SD*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
60.43% 2.78% 3 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$728 / per month

Homeownership Rate

Homeownership
Owners 68.43
Renters 31.57
Vacant 7.04

Housing Market Details

 

Age of Homes

AGE OF Milbank HOMES
2000 or Newer 2.7
1970 - 1999 37.6
1940 - 1969 36.9
1939 or Older 22.8

Types of Homes

TYPE OF Milbank HOMES
Single-Family 75.0
Townhomes 3.5
Small Apt. Buildings 3.7
Apt. Complexes 17.1
Mobile Homes 0.7
Other 0.0

Home Size

SIZE OF Milbank HOMES
No Bedroom 1.06
1 Bedroom 21.64
2 Bedrooms 22.71
3 Bedrooms 32.82
4 Bedrooms 16.14
5 or more bedrooms 5.62

Popular Neighborhoods in Milbank

Popular Communities Near Milbank, SD

Zip Codes in Milbank, SD