E.B. Bobb House · Photo: Magicpiano · CC BY-SA 4.0Measured against area pay, Mitchell costs less to live in than 63% of U.S. towns
It ranks #11 of 35 in South Dakota for affordability. Up 1% in a year, 21% below the South Dakota typical home.
Census 2020–24 home values, rents, tax bills and cost burden, measured against the median household income of the Mitchell, SD micro area ($69K). How TownRatings grades cost of living
The grade compares costs with what households across the Mitchell-area micro earn ($69K, Census 2020–24). The typical home costs 2.8 years of area income, and 40% of renters pay 30% or more of income for housing.
In dollars
- $252Ktypical home, 21% below the South Dakota typical homeZillow, September 2026
- $930a month for a two-bedroom, utilities includedHUD Fair Market Rent, 2026
In paychecks the grade
- 2.8 yrsof area income buys the typical home; the typical U.S. town: 3.3$69K, Mitchell-area income
- 15%of area income goes to the median rent; the typical U.S. town: 18%Census 2020–24
- 40%of renters pay 30%+ of income for housing; across South Dakota: 40%Census 2020–24
- 15%of owners do; the typical U.S. town: 20%Census 2020–24
What kind of housing town is Mitchell?
Read from the numbers below. The page puts what stands out first.
What’s behind Mitchell’s grade
Measured against what households in the area earn, Mitchell is more affordable than 63% of U.S. towns, #11 of 35 in South Dakota. Property tax pulls the grade down most; rent holds it up.
Prices here have kept pace with South Dakota: up 25.4% in five years, against 23.4% statewide (Zillow).
Up 25.4% in five years
About the same pace as South Dakota (23.4%).
Show as a table
| January | Mitchell | South Dakota |
|---|---|---|
| 2017 | $154,000 | $183,000 |
| 2018 | $162,000 | $192,000 |
| 2019 | $163,000 | $201,000 |
| 2020 | $169,000 | $212,000 |
| 2021 | $178,000 | $232,000 |
| 2022 | $209,000 | $269,000 |
| 2023 | $225,000 | $293,000 |
| 2024 | $235,000 | $297,000 |
| 2025 | $243,000 | $308,000 |
| 2026 | $251,000 | $316,000 |
| September 2026 | $252,000 | $318,000 |
A typical Mitchell home worth $150K in October 2016 is worth about $252K today.
Zillow Home Value Index: the typical value of all homes (middle third), smoothed and seasonally adjusted, through September 2026.
Too few sales to read the market
Only 17 homes sold in September 2026, the latest month in Redfin’s figures: too few to describe the market or quote a median sale price.
A typical home costs 2.8 years of area income
The calculator starts from the area income the grade uses. Switch to Mitchell’s own median, or type yours.
That covers a typical Mitchell home, with $3K to spare.
A two-bedroom rents for about $930 a month here, $660 less than owning.
An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, Mitchell’s typical property tax (1.29% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.
A two-bedroom rents for about $930
Renters already here pay a median of $851.
Fair Market Rent a month, utilities included
U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Davison County, SD): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.
46 new homes permitted in 2025
Builders were permitted 46 new homes in Mitchell in 2025: 33 single-family houses and 13 in buildings with two or more homes, worth about $8.6 million to build. That's 2.9 per 1,000 residents, slower than across South Dakota (6.6). Over the past 10 years, Mitchell has permitted 578 homes in all.
Between the 2010 and 2020 censuses, Mitchell gained 406 residents while 817 new homes were permitted: about 0.5 new residents per new home. Building outpaced population growth, which usually means smaller households or homes used part of the year. Across South Dakota: 1.6 new residents per new home.
Every year as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 28 | 22 | 6 | $5.5 million |
| 2025 | 46 | 33 | 13 | $8.6 million |
| 2024 | 43 | 31 | 12 | $8.3 million |
| 2023 | 55 | 31 | 24 | $9.5 million |
| 2022 | 53 | 32 | 21 | $9.9 million |
| 2021 | 53 | 29 | 24 | $10.2 million |
| 2020 | 33 | 17 | 16 | $6.2 million |
| 2019 | 32 | 20 | 12 | $5.2 million |
| 2018 | 30 | 20 | 10 | $5.5 million |
| 2017 | 49 | 37 | 12 | $8.9 million |
| 2016 | 184 | 35 | 149 | $19.2 million |
| 2015 | 62 | 34 | 28 | $10.1 million |
| 2014 | 25 | 17 | 8 | $3.2 million |
| 2013 | 285 | 25 | 260 | $20.1 million |
| 2012 | 52 | 12 | 40 | $5.3 million |
| 2011 | 25 | 23 | 2 | $4.4 million |
| 2010 | 73 | 24 | 49 | $5.9 million |
| 2009 | 25 | 21 | 4 | $3.2 million |
| 2008 | 29 | 21 | 8 | $3.8 million |
| 2007 | 45 | 40 | 5 | $7.2 million |
| 2006 | 56 | 44 | 12 | $7.4 million |
| 2005 | 78 | 53 | 25 | $6.1 million |
| 2004 | 75 | 54 | 21 | $6.3 million |
| 2003 | 77 | 53 | 24 | $5.5 million |
| 2002 | 86 | 40 | 46 | $4.3 million |
| 2001 | 126 | 47 | 79 | $5.7 million |
| 2000 | 61 | 47 | 14 | $3.6 million |
Mitchell's permit office didn't report to the Census in 2025, so the 2025 figures are Census estimates.
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey.
Low tax bills, but a high tax rate
The median bill is $2,482, under the South Dakota median of $2,724, because homes cost less. As a share of value it’s 1.29% a year, against 1.06% statewide.
Census American Community Survey 2020–24: the median real-estate tax bill homeowners report, and that bill ÷ the median home value. Bills include town, school and county taxes. The Census reports bills over $10,000 only as “$10,000+”.
Mitchell vs. its neighbors
Of the 1 towns here with a Zillow value, Mitchell has the lowest.
Cost next door · one source per column
| Town | Cost | Typical home Zillow, September 2026 | Median value Census 2020–24 | Tax rate bill ÷ value | 2-bed rent HUD 2026 |
|---|---|---|---|---|---|
| Mitchell | B | $252K | $192K | 1.29% | $930 |
| Perry Township | – | — | $290K | 0.95% | $960 |
| Badger Township | – | — | $172K | 1.13% | $1,000 |
“—” under Cost: not graded (too little Census data, or under 1,000 residents). “—” under Zillow: Zillow publishes no value for that town, so it’s left blank rather than mixed with Census figures.
Questions about the cost of living in Mitchell
Is Mitchell expensive to live in?
Measured against what households in the area earn, Mitchell costs less than 63% of U.S. towns: a B for cost of living, #11 of 35 in South Dakota. The typical home costs 2.8 years of the median household income of the Mitchell, SD micro area ($69K).
How much does a house cost in Mitchell?
About $252K, Zillow’s typical value for September 2026, up 1.0% in a year. The South Dakota typical home is $318K.
What salary do you need to live in Mitchell?
To buy the typical home with 20% down at 6.3%, about $68,000 a year, keeping the payment (about $1,590 a month with tax and insurance) at 28% of income. To rent a two-bedroom at 30% of income, about $37,000.
How much is rent in Mitchell?
HUD puts a two-bedroom at about $930 a month with utilities, the going rate for someone moving in. Renters already here pay a median of $851 (Census 2020–24).
What are property taxes in Mitchell?
The median bill is $2,482 a year, 1.29% of the median home value (South Dakota: $2,724, 1.06%), from the Census 2020–24.
Are home prices in Mitchell going up?
Barely: up 1.0% in the past year and 25.4% in five years, against 23.4% across South Dakota (Zillow).
Neighbors talk housing
What Mitchell buyers, sellers and renters are saying.
Home values: Zillow Home Value Index (ZHVI), Zillow Research, September 2026. Sales, days on market and supply: Redfin Data Center, September 2026. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. New homes: U.S. Census Bureau, Building Permits Survey. Fair Market Rents: U.S. Department of Housing and Urban Development. The calculator is an estimate, not a loan offer. Regional price levels: BEA; electricity: EIA. How TownRatings grades cost of living.