Mitchell, SD—57301
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Mitchell, SD
As of Oct '25, the median home price in Mitchell, SD is $249,000, with a year-over-year change of 5.0%. This indicates that home prices in Mitchell, SD are increasing. According to Zillow, the 1-year price projection is 1.6%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $249,000 | 5.0% |
| Single Family | $249,000 | 5.1% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $108,000 | 1.9% |
2 Bed | $181,000 | 4.6% |
3 Bed | $246,000 | 4.7% |
4 Bed | $292,000 | 4.7% |
| 5 Bed | $422,000 | 4.2% |
% of Housing Stock
Rental Trends — Mitchell, SD
As of July '25, Rentcast reports the average rent in Mitchell, SD is $1,070, with a year-over-year rent change of 11.2%. Per bedroom, the median rent as of July '25 in Mitchell, SD is studios: $874, 1-bedrooms: $693, 2-bedrooms: $931, 3-bedrooms: $1,380, 4-bedrooms: $1,470. The most common rental property sizes in Mitchell, SD are 1-bedroom and 2-bedroom, accounting for 36.9% and 36.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,000 | $1,070 |
| Studio Rent | $874 | $874 |
| 1 Bed Rent | $675 | $693 |
| 2 Bed Rent | $900 | $931 |
| 3 Bed Rent | $1,300 | $1,380 |
| 4 Bed Rent | $1,450 | $1,470 |
% of Rental Stock
Property Listings — Mitchell, SD
As of Oct '25, Realtor.com reports that the median days on market for a home in Mitchell, SD is 60. This is a increase of 42.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 20.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $311,000 | -1.0% |
Listing Count | 69 | 7.0% |
| Listings as % of Homes | 0.3% | 7.0% |
Days on Market | 60 | 42.0% |
Demographics — Mitchell, SD
As of the latest ACS Survey released in 2023, Mitchell, SD has a population of 19,100, which has increased by 3.7% over the past 5 years. Mitchell, SD is a moderately popular place for families, as children make up 23.5% of the population. The area has a moderately educated workforce, with 25.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 19,100 | 3.7% |
% Under 18 | 23.5% | 6.3% |
% Seniors | 20.8% | 16.9% |
% WFH | 8.5% | 193.1% |
% w/ College Degree | 25.1% | 2.4% |
As of the latest ACS Survey released in 2023, Mitchell, SD is a predominantly white area, with 88.6% of the population identifying as white. The white population has shrunk by 2.9% in the last 5 years. The second most common race or ethnicity in Mitchell, SD is hispanic, making up 4.7% of the population. Foreign-born residents account for 2.0% of the population in Mitchell, SD, and this percentage has increased by 53.8% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 88.6% | -2.9% |
% Black | 0.6% | -33.3% |
% Hispanic | 4.7% | 88.0% |
% Asian | 0.5% | 25.0% |
% Foreign Born | 2.0% | 53.8% |
Mortgage and Risk — Mitchell, SD
According to HUD data as of 2023, there were 271 mortgage originations in Mitchell, SD, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 35.0% above 90% LTV (very high). This implies large mortgage risk in Mitchell, SD. Investor activity is low, as 4.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 271 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 4.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Mitchell, SD
Mitchell, SD lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 524 |
Total Units Section 8 | 524 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 81.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $55 | $675 | $730 |
| 2 Bedroom | -$30 | $900 | $870 |
| 3 Bedroom | -$80 | $1,300 | $1,220 |
| 4 Bedroom | $10 | $1,450 | $1,460 |
Affordability — Mitchell, SD
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.7 |
| Median Home Price | $249,000 |
| Median Household Income | $60,700 |