Grand Forks appreciation rates and housing market information

Grand Forks housing market information

With 49,282 people, 20,830 houses or apartments, and a median cost of homes of $162,212, Grand Forks real estate is some of the most expensive in North Dakota, although Grand Forks home values aren't among America's most expensive.

single-family detached homes are the single most common housing type in Grand Forks, accounting for 41.29% of the city's housing units. Other types of housing that are prevalent in Grand Forks include large apartment complexes or high rise apartments (37.87%), duplexes, homes converted to apartments, or other small apartment buildings (10.00%), row houses and other attached homes (6.29%), and a few mobile homes or trailers (4.56%).

People in Grand Forks primarily live in small (one, two, or no bedroom) single-family detached homes. Grand Forks has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Grand Forks built from 1970-1994, 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 from 1940-1969 (30.05%). A lesser amount of the housing stock also hails from 1939 and earlier (14.25%), and some were built from 1995 and later (14.25%).

Grand Forks home appreciation rates

Real estate appreciation rates in Grand Forks have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.62% during the period.

NeighborhoodScout's data show that during the latest twelve months, Grand Forks home appreciation rates, at 0.83%, have been at or slightly above the national average. In the latest quarter, Grand Forks's appreciation rate has been -0.35%, which annualizes to a rate of -1.40%.

Relative to North Dakota, our data show that Grand Forks's latest annual appreciation rate is higher than 6% 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 1990, to assist you in making the best Grand Forks real estate investment or home purchase decisions.