Milbank, SD housing market
The typical Milbank home is worth about $237,000, up 10.8% in a year, 26% below the South Dakota typical home.
Home values, sales, trends and how Milbank compares with the towns next door — updated as new data is published.
Milbank at a glance
Typical home value, 2016–2026
Show as a table
| January | Milbank | South Dakota |
|---|---|---|
| 2017 | $151,000 | $186,000 |
| 2018 | $157,000 | $195,000 |
| 2019 | $156,000 | $203,000 |
| 2020 | $159,000 | $215,000 |
| 2021 | $182,000 | $235,000 |
| 2022 | $201,000 | $272,000 |
| 2023 | $216,000 | $297,000 |
| 2024 | $187,000 | $301,000 |
| 2025 | $207,000 | $312,000 |
| 2026 | $225,000 | $319,000 |
| August 2026 | $237,000 | $322,000 |
9 new homes permitted in 2025
Builders were permitted 9 new homes in Milbank in 2025: 5 single-family houses and 4 in buildings with two or more homes, worth about $3 million to build. That's 2.6 per 1,000 residents, slower than across South Dakota (6.6). Over the past 10 years, Milbank has permitted 53 homes in all.
Homes vs. people, 2010–2020
Between the 2010 and 2020 censuses, Milbank gained 191 residents while 22 new homes were permitted: about 8.7 new residents per new home. Population grew faster than building, so existing homes filled up: a sign of tight supply. Across South Dakota: 1.6 new residents per new home.
Residents: U.S. Census Bureau, 2010 and 2020 censuses. New homes: permits issued 2010–2019.
Show as a table
| Year | New homes | Single-family | 2+ per building | Value |
|---|---|---|---|---|
| 2026 (Jan–Aug) | 13 | 7 | 6 | $3.7 million |
| 2025 | 9 | 5 | 4 | $3 million |
| 2024 | 13 | 9 | 4 | $3.5 million |
| 2023 | 13 | 13 | 0 | $4.6 million |
| 2022 | 2 | 2 | 0 | $1 million |
| 2021 | 2 | 2 | 0 | $839,000 |
| 2020 | 9 | 5 | 4 | $2.1 million |
| 2019 | 1 | 1 | 0 | $98,000 |
| 2018 | 0 | 0 | 0 | — |
| 2017 | 4 | 4 | 0 | $730,000 |
| 2016 | 0 | 0 | 0 | — |
| 2015 | 5 | 5 | 0 | $1.1 million |
| 2014 | 0 | 0 | 0 | — |
| 2013 | 2 | 2 | 0 | $600,000 |
| 2012 | 3 | 1 | 2 | $570,000 |
| 2011 | 5 | 5 | 0 | $1 million |
| 2010 | 2 | 2 | 0 | $246,000 |
| 2009 | 1 | 1 | 0 | $175,000 |
| 2008 | 2 | 2 | 0 | $220,000 |
| 2007 | 7 | 7 | 0 | $875,000 |
| 2006 | 5 | 5 | 0 | $850,000 |
| 2005 | 7 | 7 | 0 | $941,000 |
| 2004 | 8 | 8 | 0 | $878,000 |
| 2003 | 8 | 6 | 2 | $747,000 |
| 2002 | 9 | 7 | 2 | $1 million |
| 2001 | 4 | 4 | 0 | $420,000 |
| 2000 | 7 | 7 | 0 | $828,000 |
How Milbank ranks on new homes being built →
Homes authorized by building permits, counted in the year the permit was issued. U.S. Census Bureau, Building Permits Survey, through August 2026.
Milbank and its neighbors
| Town | Typical value | 1-yr change | 2-bed rent | New homes 2025 | Median income |
|---|---|---|---|---|---|
| Milbank | $237K | +10.8% | $930 | 9 | $56,011 |
| Alban | — | +5.4%† | $930 | — | $106,860 |
| Grant Center | — | +5.4%† | $930 | — | $70,750 |
† FHFA price index change, where Zillow has no home value for the town.
4.2 years of income
The typical Milbank home costs about 4.2 years of the town's median household income, about the same as across South Dakota (4.3).
How Milbank ranks on affordability →
Home value ÷ ACS median household income.
Owners, rent & taxes
U.S. Census Bureau, ACS 2020-2024.
A two-bedroom rents for about $930
HUD's Fair Market Rent for a two-bedroom in Milbank is $930 a month, utilities included: roughly what a modest, recently rented unit costs. Renters already in Milbank pay a median of $548, so moving in tends to cost more than staying put. A two-bedroom takes about 20% of the town's median household income.
Studio $640 · 4 bedrooms $1,440
U.S. Department of Housing and Urban Development, FY2026 Fair Market Rents by ZIP code (57252; Grant County, SD), weighted by land area. A Fair Market Rent is the 40th-percentile rent plus utilities for a standard unit. Median rent: U.S. Census Bureau, American Community Survey.
Recent listings in Milbank
Home values: Zillow Home Value Index (ZHVI), Zillow Research, August 2026. Sales, days on market and supply: Redfin Data Center. 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. Listings link to their publishers.