States · South Dakota · Grant County

Milbank, South Dakota.

Typical home $241,582 (+11.0% in a year).

What it costs per month · Milbank $1,268/mo

to buy the typical home at today's mortgage rate — +$674 (+114%) since Jan 2020.

What the home itself did
1 year
Up $23,874 +11%
$217,708$241,582 since Sep 2025
5 years
Up $45,348 +23%
$196,234$241,582 since Sep 2021

Monthly payment to buy the typical home

Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.

$500 $1,000 $1,500 $2,000 2002 2006 2010 2014 2018 2022 2026 Milbank $1,268 South Dakota $1,668 United States $1,922
$500 $1,000 $1,500 $2,000 2002 2010 2018 2026
  • Milbank$1,268
  • South Dakota$1,668
  • United States$1,922

At the last five years' pace, a typical home here doubles in price every 17 years.

Typical home values in Milbank, SD rose 11.0% over the past year — faster than the nation's +1.2%.

Living in Milbank, Grant County, South Dakota

Milbank is a city of 3,544 people in Grant County. Half its households earn more than $56,011 a year and half less, against $75,028 across Grant County; 13% of its people live below the poverty line. 70% of its homes are lived in by their owners and 30% are rented. Unemployment in Grant County was 2.1% in August 2026, and the county had 2.9% fewer jobs in 2025 than the year before. The most residents work in schools and health care, then shops.

People 3,544 in the 2020 census
Household income $56,011 the median, give or take $13,441 · Grant County: $75,028
Unemployment 2.1% Grant County, August 2026; 2.7% a year before
Homes 70% lived in by their owners; 30% rented

Written by AI Claude Sonnet 5.5 wrote this on 24 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.

What it’s like

The place. Milbank is a small city in Grant County, in the northeast corner of South Dakota. Most homes are lived in by their owners, and typical home values are modest. Incomes in town run well below the county's, and a good number of people live below the poverty line. Winters are cold, with January the coldest month, and summers are warm in July, with rain and melted snow adding up to a moderate amount through the year.

Work. Many residents work in schools, hospitals and social care, with shops, manufacturing, and transport and warehousing close behind. Among the largest workplaces in Milbank are Avera Milbank Area Hospital, United Hardware Distributing Co and Avantara Milbank. Unemployment across Grant County is low and a little lower than a year ago, though the county has fewer jobs than it did the year before. Commutes are very short, and some people work from home.

Things to do. Most of what draws people outdoors is water, and it sits a longer drive away. Big Stone Lake is a reservoir, and Big Stone Lake State Park is a protected area on the same stretch of country. The Minnesota River, one of the best known rivers in the region, runs nearby, and the Big Stone National Wildlife Refuge is another protected area to explore.

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  • 1,530households
  • 31%of adults have a degree
  • 13%below the poverty line
  • 9 mintypical commute
  • 10%work from home

What residents work in

  • Schools, hospitals and social care22%
  • Shops (retail)14%
  • Manufacturing14%
  • Transport, warehouses and utilities8%
  • Other services8%
  • Wholesale7%

Employed residents by industry, from the Census survey. Grant County had 3,744 jobs in 2025, 2.9% fewer than the year before (Bureau of Labor Statistics).

Weather through the year

Average daily high and low for each month: coldest in January, 21° and 4°; warmest in July, 81° and 60° 0° 20° 40° 60° 80° J 21° 4° F M A M J J 81° 60° A S O N D
Average daily high and low for each month: coldest in January, 21° and 4°; warmest in July, 81° and 60° 0° 20° 40° 60° 80° J 21° 4° F M A M J J 81° 60° A S O N D

Coldest in January, with highs near 21° and lows near 4°; warmest in July, with highs near 81° and lows near 60°. About 25 inches of rain and melted snow a year.

Average daily high and low, 1991–2020, at the Milbank weather station, under a mile away (NOAA).

Largest workplaces in Milbank

  1. Avera Milbank Area HospitalHospitals, general medical and surgical145
  2. United Hardware Distributing CoGeneral warehousing and storage113
  3. Avantara MilbankLtc38
  4. Do It BestTerminal and joint terminal maintenance facilities for motor freight35
  5. J&J Earth WorksUtility line, construction31
  6. MilbankMail and parcel delivery21
  7. Otter Tail Power CompanyElectric power generation, fossil fuel21
  8. Wellshire Park Place-MilbankHomes for the elderly with nursing care20

Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 8 workplaces with 20 or more staff, 424 people in all. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.

Natural hazards

  1. Cold wavesVery high
  2. Winter weatherVery high
  3. Ice stormsVery high
  4. TornadoesVery high
  5. Strong windRelatively high
  6. HailRelatively high

FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Milbank’s census tracts, against the rest of the country; all of them together, very high. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.

From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Grant County.

Milbank home values

Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.

$150,000 $200,000 $250,000 $300,000 $350,000 2018 2020 2022 2024 2026 Milbank $241,582 South Dakota $317,874 United States $366,157
$150,000 $200,000 $250,000 $300,000 $350,000 2018 2022 2026
  • Milbank$241,582
  • South Dakota$317,874
  • United States$366,157

When this market ran hot

Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.

JFMAMJJASOND
2026
2025
2024
2023
2022
2021
2020
2019
2018
falling flat warming hot overheating runaway

Market heat, inside the city limits

Homes for sale

Active for-sale inventory. More supply hands power to buyers.

5 10 15 20 25 2023 2024 2025 2026 Milbank 18
5 10 15 20 25 2023 2024 2025 2026
  • Milbank18

New listings per month

Sellers arriving at the market.

4 6 8 2026 Milbank 5
4 6 8 2026
  • Milbank5

Zip codes with a Milbank address

A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Milbank — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.

Zip codes in Milbank