Mitchell, SD
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Mitchell Neighborhoods Since 2000




Mitchell, 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

Mitchell Housing Market Information

With a population of 15,669, 6,820 total housing units (homes and apartments), and a median house value of $153,600, 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 67.50% of the city's housing units. Other types of housing that are prevalent in Mitchell include large apartment complexes or high rise apartments ( 19.16%), duplexes, homes converted to apartments or other small apartment buildings ( 7.18%), and a few mobile homes or trailers ( 4.71%).

The most prevalent building size and type in Mitchell are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 53.07% owning and 46.93% renting.

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 between 1940-1969 ( 27.77%). A lesser amount of the housing stock also hails from before 1939 ( 24.60%). There's also some housing in Mitchell built between 2000 and later ( 13.83%).

Mitchell Home Appreciation Rates

In the last 10 years, Mitchell has experienced some of the highest home appreciation rates of any community in the nation. Mitchell real estate appreciated 22.02% over the last ten years, which is an average annual home appreciation rate of 2.01%, putting Mitchell in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Mitchell 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, Mitchell's appreciation rate, at 4.06%, has been at or slightly above the national average. In the latest quarter, Mitchell's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Relative to South Dakota, our data show that Mitchell's latest annual appreciation rate is lower than 60% of the other cities and towns in South Dakota.

Average Home Values

 

Median Home Value:
$153,600

Mitchell, SD HOME PRICES

Value Range
> $1,151,000 0.0
$863,001 - $1,151,000 0.0
$575,001 - $863,000 1.8
$460,001 - $575,000 1.8
$345,001 - $460,000 4.3
$230,001 - $345,000 9.3
$115,001 - $230,000 47.0
$57,001 - $115,000 25.7
$0 - $57,000 10.1

High for SD
Average for Nation

Value Relative to Nation Value Relative to State
48.5175202156334 28.3333333333333

Number Of Homes And Apartments:
6,820

Mitchell 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% 2 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$823 / per month

Homeownership Rate

Homeownership
Owners 53.07
Renters 46.93
Vacant 4.74

Housing Market Details

 

Age of Homes

AGE OF Mitchell HOMES
2000 or Newer 13.8
1970 - 1999 33.8
1940 - 1969 27.8
1939 or Older 24.6

Types of Homes

TYPE OF Mitchell HOMES
Single-Family 67.5
Townhomes 1.5
Small Apt. Buildings 7.2
Apt. Complexes 19.2
Mobile Homes 4.7
Other 0.0

Home Size

SIZE OF Mitchell HOMES
No Bedroom 2.91
1 Bedroom 13.19
2 Bedrooms 27.95
3 Bedrooms 31.28
4 Bedrooms 16.45
5 or more bedrooms 8.23

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Zip Codes in Mitchell, SD