Rent to own Homes in Mitchell, SD
If you are new to South Dakota, you might think that a city with a population of just over 15,000 is rather small. In this rural state, it is actually pretty big. Mitchell is a beautiful prairie city that boasts a lot for its citizens to see and do, along with a thriving economy and plenty of occupational and entertainment offerings. You will love this beautiful city, its historical attractions, and its friendly people.
Mitchell, SD is a great place for affordable rent-to-own homes! With a median household income of over $45,318 and a median rent of $715, the Mitchell, SD rent-to-own market is more affordable than the traditional housing market which has shown tremendous growth across the U.S. and with it, aggressive competition for home purchases. With the current housing shortage trend it can make it harder to become a homeowner, including in Mitchell, SD. This means higher than average down payments for homes and higher qualification standards for conventional home loans. With a rent-to-own property, tenants are also buyers. You can live in the house for a set amount of time before you purchase it, meaning that you get to know the house, your neighbors, and your community before making the final purchase. This enables you and your family to make the right choice based on both information and experience. Rent-to-own is also a great alternative way to get into a home if you have bad credit or don't have enough saved for a down payment.
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Rent to own Homes in Cities Near Mitchell, SD
Neighborhoods in Mitchell, SD
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57301 rent to own homesBuying a Home in Mitchell, SD
Mitchell, SD is seeing rapid growth and Mitchell, SD's' housing market remains optimal with an average home price that is -32% below the 2024 national average. Mitchell, SD is part of Davison county and taxes are an important factor to consider when purchasing a home whether through rent to own or a traditional purchase. The average tax rate as of 2024 for county Davison is 1.39% which is above the national average, which is 0.99%.
Median Home Price in Mitchell, SD
Median Rent in Mitchell, SD
Top 4 Reasons to Live in Mitchell, South Dakota
Property values are steadily increasing! With property values appreciating at nearly 25% over the last decade, this is a great place to find a house for sale. The increase in values has been most steady in the Mount Vernon area of the city, although the City Center has also seen a stable increase.
Faced-paced real estate market! While this town is home to families that have been here since its founding, there are also plenty of new residents moving into the area. Rent to own homes, as well as rental properties, are available at below the national average prices. Look in the Ridge and West Haven areas for some great possibilities.
Plenty of local attractions to keep you entertained! The Corn Palace is probably the top local attraction, and everyone seems to know about it. It's a great community center that is decorated with colored corn and other grains. It's not the only great local attraction, however; the Dakota Discovery Museum and the Mitchell Prehistoric Indian Village are also popular. The museum has several permanent exhibits, along with a changing exhibit, and serves to showcase the history of the area, as well as that of the Dakotas. The Indian Village is the only archaeological site in South Dakota that is open to public visitors. The history of the ancient Indians who lived in this area is still being unearthed, and the Indian Village is a fascinating place to spend a day learning about their lives.
Great local dining establishments! You can certainly find a wide variety of fast food and franchised places to dine. However, if you are looking for something unique to Mitchell, then pay a visit to Chef Louie's and dig in to the Filet Oscar. The Angus beef filet with crab is sure to please even the most discriminating palate. For a great steak with real old Mitchell ambiance, head over to the Mitchell Depot. The old depot has been turned into an outstanding steakhouse, and it's a place where you can spend a truly memorable evening.