The housing market in Mitchell, SD is quite strong compared to the national average. The median value of a home in Mitchell is $218,400, while the US median value is $338,100. Furthermore, the appreciation rate for housing in Mitchell over the last year has been 14.45%, which is 6.18% higher than the overall appreciation rate for homes across the US of 8.27%. This indicates that housing prices in this area are on an upward trend and increasing at a faster rate than most areas across the country.
The median home cost in Mitchell is $218,400. Home appreciation the last 10 years has been 81.4%. Home Appreciation in Mitchell is up 17.2%.
Average Age of Homes
- The median age of Mitchell real estate is 47 years old
The Rental Market in Mitchell
- Renters make up 40.4% of the Mitchell population
- 6.7% of houses and apartments in Mitchell, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.