Mitchell, SD

Key Performance Metrics

Market snapshot

Performance indicators for the Mitchell short-term rental market based on reliable data.

Listings

31 / 50

Reliable / Active

Cap Rate

11%

Middle-Earners Gross Yield

Revenue

$26,620

Middle-Earners Revenue

Occupancy

57%

Middle-Earners Occupancy

Home Value

$245,185

Median Home Sale Price

Top Earners

$42,334

Top-Earners Revenue

Mitchell

Market Revenue Seasonality

Top Listings

Highest revenue

The highest-performing listings in Mitchell.

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Generally Investor friendly

Mitchell Regulations

STRs are permitted in R‑2/R‑3 only via a conditional use permit (with a public hearing and City Council approval) and allowed in R‑4 without a CUP, but prohibited in several residential districts (R‑L, R‑1, R‑5), requiring zoning confirmation and a moderate permitting/compliance burden. Enforcement has focused on warnings, no explicit caps are noted, and the city’s 2025 updates introduce some uncertainty, yet the process remains manageable for investors.

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About Mitchell

Mitchell is a city in and the county seat of Davison County, South Dakota, United States. The population was 15,660 at the 2020 census making it the sixth most populous city in South Dakota.Mitchell is the principal city of the Mitchell Micropolitan Statistical Area, which includes all of Davison and Hanson counties.