Mitchell, SD Real Estate Market

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 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Mitchell, SD Housing Market Trends

With 15,679 people, 6,987 houses or apartments, and a median cost of homes of $176,377, Mitchell real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Mitchell, accounting for 59.63% of the city's housing units. Other types of housing that are prevalent in Mitchell include large apartment complexes or high rise apartments ( 24.01%), duplexes, homes converted to apartments or other small apartment buildings ( 7.16%), and a few mobile homes or trailers ( 4.81%).

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

There is a lot of housing in Mitchell 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 Mitchell built before 1939 ( 27.92%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.49%). There's also some housing in Mitchell built between 2000 and later ( 17.03%).

Mitchell Home Appreciation Rates

Real estate appreciation rates in Mitchell's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 3.14% during the period.

Over the last year, Mitchell appreciation rates have trailed the rest of the nation. In the last twelve months, Mitchell's appreciation rate has been 4.19%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mitchell were at 1.88%, which equates to an annual appreciation rate of 7.74%.

Relative to South Dakota, our data show that Mitchell's latest annual appreciation rate is lower than 80% of the other cities and towns in South Dakota.

Average Home Values

 

Median Home Value:
$176,377

Mitchell, SD HOME PRICES

> $1,133,000
0.3%
0.3%
$850,001 - $1,133,000
1.4%
1.4%
$566,001 - $850,000
0.6%
0.6%
$454,001 - $566,000
2.8%
2.8%
$340,001 - $454,000
5.4%
5.4%
$227,001 - $340,000
13.7%
13.7%
$113,001 - $227,000
49.9%
49.9%
$57,001 - $113,000
21.2%
21.2%
$0 - $57,000
4.7%
4.7%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for SD

Value Relative To Nation

Number Of Homes And Apartments:
6,987

Mitchell Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
SD*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
80.76% 2.83%
2
6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$957 / per month

Homeownership Rate

Owners
50.7%
50.7%
Renters
49.3%
49.3%
Vacant
8.8%
8.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
17.0%
17.0%
1970 - 1999
33.6%
33.6%
1940 - 1969
21.5%
21.5%
1939 or Older
27.9%
27.9%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
59.6%
59.6%
Townhomes
4.4%
4.4%
Small Apt. Buildings
7.2%
7.2%
Apt. Complexes
24.0%
24.0%
Mobile Homes
4.8%
4.8%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
5.3%
5.3%
1 Bedroom
16.3%
16.3%
2 Bedrooms
29.0%
29.0%
3 Bedrooms
24.8%
24.8%
4 Bedrooms
18.1%
18.1%
5 or more bedrooms
6.5%
6.5%
0.0% 100.0%
% OF HOMES

Popular Communities Near Mitchell, SD

Zip Codes in Mitchell, SD