Housing in Milbank, SD

Home values, rent, ownership rates, and housing market data

Housing Market Snapshot

Source: Zillow — January 2026

Zillow Home Value Index

$217,047

Milbank vs Similar Cities

Source: Census ACS / Redfin (2023)

Compared to cities with under 10,000 residents. Milbank is highlighted.

Median Home Value

45th%ilemost expensive$161,300show rank

Median Rent

2nd%ilemost expensive rent$480show rank

Rent Burden

3rd%ilehighest rent burden9.9%show rank

Census Housing Data

Source: U.S. Census Bureau ACS (2023)

Median Home Value

$161,300

Median Rent

$480

Total Housing Units

1,622

Vacancy Rate

12.4%

Owner Occupied

76.3%

Renter Occupied

23.7%

Median Property Tax

$1,664

per year

Monthly Cost (w/ Mortgage)

$911

Housing Types

Single Family

70.5%

Multi-Family

26.0%

Mobile Home

3.6%

The median home value in Milbank, SD is $161,300. According to Zillow, the home value index for Milbank is $217,047. The median rent is $480 per month (Census ACS). About 76.3% of housing units are owner-occupied. The median year homes were built is 1974. There are 1,622 total housing units.