Milbank, SD
Population 3,513 · South Dakota
About Milbank, SD
Milbank is a small community in South Dakota with a population of 3,513 residents. The median household income is $58,462 per year, which is near the national average. The median age in Milbank is 42.3 years.
Housing in Milbank has a median home value of $161,300 and median monthly rent of $480. Of the 1,622 total housing units, the majority are owner-occupied, with 1,083 owner-occupied and 337 renter-occupied units.
The unemployment rate in Milbank is 4.7% and the poverty rate is 13.6%. 34.3% of residents hold a bachelor's degree or higher. The average commute time is 11.4 minutes.
How Milbank Ranks in South Dakota
Cost of Living in Milbank, SD
Compared to national averages, Milbank has a median household income of $58,462 (22% below the national median of $75,149). Home values average $161,300, which is 34% below the national median. Monthly rent at $480 is 59% below the US average of $1,163. Within South Dakota, Milbank's income is 10% below the state average of $64,650, and home values are 12% above the state median of $143,757.
Why Live in Milbank, SD?
Milbank offers affordable housing with a median home value of $161,300, below the US average of $244,900, and rent that’s lower than the national average at $480/month, and a well-educated community where 34.3% of residents hold a bachelor’s degree or higher. Additionally, the city features short commute times averaging just 11.4 minutes.
Potential considerations include median household income ($58,462) that falls below the national average. However, Milbank’s smaller community size offers a quieter lifestyle and tight-knit neighborhoods.
Milbank has a population of 3,513 with a median age of 42.3 years. Compare Milbank with other cities to see how it stacks up, or explore all cities in South Dakota.
Similar Cities Near Milbank
Cities in South Dakota with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Hot Springs | 3,506 | $49,688 | $168,200 | Compare |
| Hartford | 3,412 | $95,426 | $223,400 | Compare |
| Dell Rapids | 3,947 | $101,250 | $284,400 | Compare |
| Canton | 3,060 | $65,500 | $191,000 | Compare |
| North Sioux City | 3,018 | $76,481 | $234,500 | Compare |
| Lead | 2,997 | $57,348 | $192,800 | Compare |
| Summerset | 2,978 | $115,197 | $337,900 | Compare |
| Mobridge | 2,928 | $61,556 | $122,000 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in South Dakota
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Milbank With Other Cities
Frequently Asked Questions about Milbank
What is the population of Milbank, SD?
The population of Milbank, SD is 3,513 according to the latest Census data.
What is the median household income in Milbank?
The median household income in Milbank, SD is $58,462 per year.
What is the median home value in Milbank?
The median home value in Milbank, SD is $161,300.
What is the average rent in Milbank?
The median monthly rent in Milbank, SD is $480.
What is the unemployment rate in Milbank?
The unemployment rate in Milbank, SD is 4.7%.