Grand Forks, ND Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Grand Forks, ND Housing Market Trends

With 55,839 people, 25,328 houses or apartments, and a median cost of homes of $204,278, Grand Forks real estate and house prices are near the national average for all cities and towns.

Large apartment complexes or high rise apartments are the single most common housing type in Grand Forks, accounting for 44.92% of the city's housing units. Other types of housing that are prevalent in Grand Forks include single-family detached homes ( 36.45%), row houses and other attached homes ( 7.69%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.67%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

People in Grand Forks primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Grand Forks has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Grand Forks built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Grand Forks built between 2000 and later ( 23.22%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.01%). There's also some housing in Grand Forks built before 1939 ( 12.43%).

Grand Forks Home Appreciation Rates

Appreciation rates for homes in Grand Forks have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 39.49%, which ranks in the top 40% nationwide. This equates to an annual average Grand Forks house appreciation rate of 3.38%.

Over the last year, Grand Forks appreciation rates have trailed the rest of the nation. In the last twelve months, Grand Forks's appreciation rate has been 2.24%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Grand Forks were at 1.93%, which equates to an annual appreciation rate of 7.94%.

Relative to North Dakota, our data show that Grand Forks's latest annual appreciation rate is lower than 70% of the other cities and towns in North Dakota.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Grand Forks differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Grand Forks - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Grand Forks real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$204,278

Grand Forks, ND HOME PRICES

> $1,066,000
0.1%
0.1%
$800,001 - $1,066,000
0.3%
0.3%
$533,001 - $800,000
2.7%
2.7%
$426,001 - $533,000
2.8%
2.8%
$320,001 - $426,000
12.1%
12.1%
$213,001 - $320,000
29.0%
29.0%
$107,001 - $213,000
38.6%
38.6%
$53,001 - $107,000
5.0%
5.0%
$0 - $53,000
9.4%
9.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Average for Nation

High for ND

Value Relative To Nation

Number Of Homes And Apartments:
25,328

Grand Forks Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
ND*
Compared To
America*
Latest Quarter:
2020 Q3 - 2020 Q4
Last 12 Months:
2019 Q4 - 2020 Q4
Last 2 Years:
2018 Q4 - 2020 Q4
Last 5 Years:
2015 Q4 - 2020 Q4
Last 10 Years:
2010 Q4 - 2020 Q4
Since 2000:
2000 Q1 - 2020 Q4
108.23% 3.55%
2
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$948 / per month

Homeownership Rate

Owners
40.7%
40.7%
Renters
59.3%
59.3%
Vacant
6.7%
6.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
23.2%
23.2%
1970 - 1999
43.3%
43.3%
1940 - 1969
21.0%
21.0%
1939 or Older
12.4%
12.4%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
36.5%
36.5%
Townhomes
7.7%
7.7%
Small Apt. Buildings
7.7%
7.7%
Apt. Complexes
44.9%
44.9%
Mobile Homes
3.3%
3.3%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
3.2%
3.2%
1 Bedroom
19.0%
19.0%
2 Bedrooms
34.5%
34.5%
3 Bedrooms
23.9%
23.9%
4 Bedrooms
13.9%
13.9%
5 or more bedrooms
5.6%
5.6%
0.0% 100.0%
% OF HOMES