Commercial Real Estate Market in Milbank, SD
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
3 active listings and 357 off-market properties in Milbank, SD.
Market Trends
Milbank, SD spans 164.9 square miles in Grant County, South Dakota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Milbank, SD runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Milbank, SD runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Milbank, SD runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Milbank, SD runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Milbank, SD has 5,020 residents in 2,171 households. Density runs 30 people per square mile. Median household income here is $69,900 and median gross rent $525 a month.
5,020
Population
2,171
Households
2.3
Avg Household Size
44
Median Age
31%
College-Educated
93%
High-School Grad
164.9 sq mi
ZIP Area
30
Density / Sq Mi
$69,900
Median Household Income
$35,502
Median Earnings
$525
Median Rent
$184,500
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| Twin Brooks | — | — |
| Big Stone City | — | — |
| Corona | — | — |
| Ortonville | — | — |
Methodology & data sources
- Asking prices and averages
- Computed from 3 active for-sale and 0 active for-lease listings in Milbank, SD. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
