Miller, SD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Miller Neighborhoods Since 2000




Miller, 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

Miller Housing Market Information

With a population of 1,437, 737 total housing units (homes and apartments), and a median house value of $99,857, house prices in Miller are solidly below the national average.

Single-family detached homes are the single most common housing type in Miller, accounting for 74.16% of the city's housing units. Other types of housing that are prevalent in Miller include large apartment complexes or high rise apartments ( 13.61%), duplexes, homes converted to apartments or other small apartment buildings ( 5.07%), and a few mobile homes or trailers ( 3.92%).

People in Miller primarily live in small (one, two or no bedroom) single-family detached homes. Miller has a mixture of owner-occupied and renter-occupied housing.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Miller's housing was primarily built during this period, from the '40s through the '60s. A full 38.99% of the city's housing hails from this era. Other housing ages represented in Miller include homes built before 1939 ( 27.91%) and housing constructed between 1970-1999 ( 26.76%). There's also some housing in Miller built between 2000 and later ( 6.34%).

Vacant housing appears to be an issue in Miller. Fully 14.99% of the housing stock is classified as vacant. Left unchecked, vacant Miller homes and apartments can be a drag on the real estate market, holding Miller real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Miller Home Appreciation Rates

In the last 10 years, Miller has experienced some of the highest home appreciation rates of any community in the nation. Miller real estate appreciated 34.08% over the last ten years, which is an average annual home appreciation rate of 2.98%, putting Miller in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Miller definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Miller's appreciation rate, at 4.60%, has been at or slightly above the national average. In the latest quarter, Miller's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Relative to South Dakota, our data show that Miller's latest annual appreciation rate is higher than 50% of the other cities and towns in South Dakota.

Average Home Values

 

Median Home Value:
$99,857

Miller, SD HOME PRICES

Value Range
> $1,130,000 0.0
$848,001 - $1,130,000 0.0
$565,001 - $848,000 0.5
$452,001 - $565,000 2.3
$339,001 - $452,000 4.8
$226,001 - $339,000 8.6
$113,001 - $226,000 24.5
$57,001 - $113,000 37.8
$0 - $57,000 21.7

Low for SD
Low for Nation

Value Relative to Nation Value Relative to State
77.6192429391773 60.8333333333333

Number Of Homes And Apartments:
737

Miller 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
86.73% 3.69% 6 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$686 / per month

Homeownership Rate

Homeownership
Owners 56.27
Renters 43.73
Vacant 14.99

Housing Market Details

 

Age of Homes

AGE OF Miller HOMES
2000 or Newer 6.3
1970 - 1999 26.8
1940 - 1969 39.0
1939 or Older 27.9

Types of Homes

TYPE OF Miller HOMES
Single-Family 74.2
Townhomes 3.2
Small Apt. Buildings 5.1
Apt. Complexes 13.6
Mobile Homes 3.9
Other 0.0

Home Size

SIZE OF Miller HOMES
No Bedroom 4.84
1 Bedroom 11.30
2 Bedrooms 34.14
3 Bedrooms 26.76
4 Bedrooms 19.38
5 or more bedrooms 3.58

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Zip Codes in Miller, SD