Cost of Living in Milbank, SD
Population 3,513 · South Dakota · Data vintage 2023
(100 = US avg)
Milbank is a smaller South Dakota community of around 4000 residents, where median household incomes of $58,462 and housing costs ($161,000 for a typical home) give the local cost-of-living profile a distinctly small-town shape.
Milbank lies roughly 115 miles south of the nearest major metro, Fargo — close enough that regional housing and labor patterns are shaped largely by the larger market. Median home values run roughly 40% lower than Fargo's $270,000.
Cost Overview
Scale: 100 = US national average. Green < 90, Red > 110.
About the Cost of Living in Milbank
The median home value in Milbank is $161,300 — 47% below the national median of $305,000. Median rent runs $480/month, 63% lower than the national median of $1,314/month. The median household income of $58,462/year is 22% lower than the US median of $74,580. The local unemployment rate is 4.7%, below the national average of 4.8%. South Dakota charges no state income tax, a meaningful advantage for take-home pay. The climate averages highs of 53.2°F and lows of 32.7°F, with about 41.1" of annual snowfall. Overall, Milbank has a cost of living index of 46 versus the US average of 100, meaning it is 54% less expensive.
Milbank has limited residential data
Detailed housing and income data is limited for this location. Here are the nearest cities with full cost of living data:
🏠 Housing
HUD Fair Market Rents by Bedroom
💰 Estimated Monthly Budget
Estimates based on median data and national averages. Actual costs vary.
🛒 Food & Groceries
National BLS average prices (2023). Local prices may vary.
🚗 Transportation
Commute Mode
⚡ Utilities
📋 Taxes
💼 Income & Employment
🎓 Education
👥 Demographics
🌤 Climate
NOAA 1991–2020 Climate Normals
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| High °F | 21 | 26 | 39 | 54 | 67 | 77 | 82 | 80 | 72 | 56 | 40 | 26 |
| Low °F | 3 | 7 | 20 | 32 | 45 | 55 | 60 | 58 | 49 | 35 | 21 | 9 |
| Precip" | 0.58 | 0.65 | 1.00 | 2.06 | 2.87 | 3.85 | 3.05 | 2.89 | 2.45 | 1.95 | 0.68 | 0.68 |
| Snow" | 6.7 | 8.9 | 5.4 | 5.2 | 0.1 | 0.0 | 0.0 | 0.0 | 0.0 | 1.4 | 4.5 | 8.9 |
🏫 Schools
NCES CCD 2019 — public school district data
Frequently Asked Questions
What is the cost of living in Milbank, SD?
Milbank has a cost index of 46 (100 = national average). It is 54% below the national average.
What is average rent in Milbank, SD?
The median gross rent in Milbank is $480 per month based on 2023 Census data.
What is the average home price in Milbank?
The median home value in Milbank is $161,300 according to Zillow and Census data.
What is the median income in Milbank?
The median household income in Milbank is $58,462 per year (2023 ACS 5-year estimates).
What is the sales tax in Milbank, SD?
The combined state and local sales tax rate in Milbank is 6.1%. South Dakota has no state income tax.
Is Milbank, SD affordable?
Yes, Milbank is generally considered affordable, with a cost of living index of 46 — about 54% below the US national average of 100.
What is the weather like in Milbank?
Milbank has average high temperatures of 53.2°F and average lows of 32.7°F. Annual precipitation is 22.7". Average annual snowfall is 41.1". Data from NOAA 1991–2020 Climate Normals.
Milbank at a Glance
- Population
- 3,513
- Median Income
- $58,462
- Home Value
- $161,300
- Median Rent
- $480/mo
- Unemployment
- 4.7%
- Avg High Temp
- 53.2°F
- Sales Tax
- 6.1%
Nearby Cities
Explore county-level cost of living data
South Dakota Rankings
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