Market Overview
Home Prices in Mitchell, SD
The median home value in Mitchell, SD is $259,551 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.1% compared to a year ago and up 3.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Mitchell are priced37% below average. Mitchell is part of the Mitchell, SD metro area.
Over the past five years, Mitchell home values have risen by approximately32.6%, reflecting strong long-term appreciation in this market.
Price History
Mitchell Home Price Trend
City Comparison
Mitchell vs. National Median
At $259,551, homes in Mitchell cost 37% below the national median of $410,000. This makes Mitchell a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Mitchell?
20% Down Payment
$51,910
on $259,551
Monthly P&I
$1,354/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,720/mo
incl. taxes & insurance
Income Needed
$68,800
gross annual (30% rule)
10% Down Option
$25,955
+ PMI applies
Loan Amount (20% dn)
$207,641
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Mitchell, SD?
The median home value in Mitchell is $259,551 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.1% year-over-year.
How much have home prices changed in Mitchell?
Over the past year, home values in Mitchell have increased by 2.1%. Over five years, prices have risen approximately 32.6%.
How much do I need to earn to buy a home in Mitchell?
To comfortably afford the median home price of $259,551 with a 20% down payment ($51,910) at today's rates (6.8%), you'd need a gross annual income of approximately $68,800. This assumes keeping total housing costs at or below 30% of gross income.
How does Mitchell compare to the national average home price?
The national median home value is approximately $410,000. At $259,551, homes in Mitchell are 37% below the national average.
What metro area is Mitchell part of?
Mitchell is part of the Mitchell, SD metropolitan area. Home prices and market conditions can vary across the broader metro region.