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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 1,464 people, 586 houses or apartments, and a median cost of homes of $304,948, Garrison real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Garrison, accounting for 73.41% of the city's housing units. Other types of housing that are prevalent in Garrison include large apartment complexes or high rise apartments ( 13.15%), mobile homes or trailers ( 5.94%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.94%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Garrison. Owner-occupied housing accounts for 73.15% of Garrison's homes, and 55.73% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Garrison's housing was primarily built during this period, from the '40s through the '60s. A full 36.92% of the city's housing hails from this era. Other housing ages represented in Garrison include homes built between 1970-1999 ( 29.42%) and housing constructed before 1939 ( 17.11%). There's also some housing in Garrison built between 2000 and later ( 16.55%).
Vacant housing appears to be an issue in Garrison. Fully 17.11% of the housing stock is classified as vacant. Left unchecked, vacant Garrison homes and apartments can be a drag on the real estate market, holding Garrison real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Some of the lowest real estate appreciation rates in America over the last ten years have been in Garrison, where house values have increased just 56.02%, which is annualized rate of 4.55%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
NeighborhoodScout's data show that during the latest twelve months, Garrison's appreciation rate, at 7.28%, has been at or slightly above the national average. In the latest quarter, Garrison's appreciation rate has been 4.70%, which annualizes to a rate of 20.15%.
Importantly, this makes Garrison one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to North Dakota, our data show that Garrison's latest annual appreciation rate is higher than 70% of the other cities and towns in North Dakota.
$304,948
for North dakota
for nation
586
$955 / per month