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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



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 Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (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 58,692 people, 25,487 houses or apartments, and a median cost of homes of $302,558, 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 43.07% of the city's housing units. Other types of housing that are prevalent in Grand Forks include single-family detached homes ( 37.64%), row houses and other attached homes ( 9.04%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.97%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

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 ( 28.79%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.03%). There's also some housing in Grand Forks built before 1939 ( 10.67%).

Grand Forks Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Grand Forks, where house values have increased just 42.36%, which is annualized rate of 3.59%. 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, Grand Forks's appreciation rate, at 5.89%, has been at or slightly above the national average. In the latest quarter, Grand Forks's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.

Notably, Grand Forks's appreciation rate in the latest quarter is one of the lowest in America.

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

$302,558

Grand Forks, ND Home Prices
> $1,227,000
$920,001 - $1,227,000
$614,001 - $920,000
$491,001 - $614,000
$368,001 - $491,000
$245,001 - $368,000
$123,001 - $245,000
$61,001 - $123,000
$0 - $61,000
0.3%
0.3%
2.0%
2.0%
4.2%
4.2%
5.6%
5.6%
17.7%
17.7%
39.0%
39.0%
21.6%
21.6%
4.2%
4.2%
5.6%
5.6%
0% 100.0%
% of Homes
High

for North dakota

Average

for nation

Number of Homes And Apartments:

25,487

Grand Forks Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,204 / per month

Homeownership Rate

Owners
Renters
42.4%
42.4%
57.6%
57.6%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
7.7%
7.7%
92.3%
92.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
28.8%
28.8%
42.5%
42.5%
18.0%
18.0%
10.7%
10.7%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
37.6%
37.6%
9.0%
9.0%
7.0%
7.0%
43.1%
43.1%
3.2%
3.2%
0.1%
0.1%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.2%
3.2%
17.5%
17.5%
33.1%
33.1%
26.4%
26.4%
13.4%
13.4%
6.4%
6.4%
0% 100.0%
% of Homes