Cost of Living in Mitchell, SD

With a cost of living index of 69, Mitchell, SD is one of the most affordable cities in the country. Living here is 31% cheaper than the national average and 5% below the South Dakota state average of 74. Mitchell is a smaller community of 15,637 residents, where everyday costs can differ substantially from nearby larger cities.

Housing costs are the biggest factor in Mitchell's cost of living. The median monthly rent is $754 (43% below the US median of $1,319), and the median home value sits at $182,000 (40% below the national median of $304,900). At current prices, the median home costs roughly 3.2x the median household income — a moderately affordable ratio by today's standards.

The median household income in Mitchell is $56,374, which is 25% lower than the national median of $75,149. Residents spend roughly 16% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum. Lower incomes here are balanced by the significantly lower cost of living, stretching each dollar further.

Climate is another factor for anyone considering a move to Mitchell. The area sees an average annual temperature of 47.7°F, with summers averaging 72°F and winters around 22°F. Annual rainfall totals 21.1 inches spread over roughly 84 days. Cold winters mean higher heating bills, an important cost-of-living consideration.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.