Devils Lake, ND
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Devils Lake, ND Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Devils Lake Housing Market Information

With 7,351 people, 3,303 houses or apartments, and a median cost of homes of $125,180, house prices in Devils Lake are solidly below the national average.

Single-family detached homes are the single most common housing type in Devils Lake, accounting for 49.89% of the city's housing units. Other types of housing that are prevalent in Devils Lake include large apartment complexes or high rise apartments ( 30.94%), mobile homes or trailers ( 8.66%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.24%).

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

There is a lot of housing in Devils Lake 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 Devils Lake built between 1940-1969 ( 33.91%). A lesser amount of the housing stock also hails from before 1939 ( 17.06%). There's also some housing in Devils Lake built between 2000 and later ( 7.24%).

Devils Lake Home Appreciation Rates

In the last 10 years, Devils Lake has experienced some of the highest home appreciation rates of any community in the nation. Devils Lake real estate appreciated 58.20% over the last ten years, which is an average annual home appreciation rate of 4.69%, putting Devils Lake in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Devils Lake definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Appreciation rates are so strong in Devils Lake that despite a nationwide downturn in the housing market, Devils Lake real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Devils Lake appreciation rates continue to be some of the highest in America, at 11.15%, which is higher than appreciation rates in 96.30% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Devils Lake. Devils Lake appreciation rates in the latest quarter were at 3.17%, which equates to an annual appreciation rate of 13.29%.

Importantly, this makes Devils Lake 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 Devils Lake's latest annual appreciation rate is higher than 90% of the other cities and towns in North Dakota.

Average Home Values

 

Median Home Value:
$125,180

Devils Lake, ND HOME PRICES

Value Range
> $1,237,000 0.6
$928,001 - $1,237,000 0.0
$618,001 - $928,000 0.0
$495,001 - $618,000 0.4
$371,001 - $495,000 4.6
$248,001 - $371,000 9.4
$124,001 - $248,000 35.2
$62,001 - $124,000 30.0
$0 - $62,000 19.8

Average for ND
Low for Nation

Value Relative to Nation Value Relative to State
62.480956287355 52.212389380531

Number Of Homes And Apartments:
3,303

Devils Lake Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
ND*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
100.30% 4.11% 2 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$840 / per month

Homeownership Rate

Homeownership
Owners 49.63
Renters 50.37
Vacant 8.35

Housing Market Details

 

Age of Homes

AGE OF Devils Lake HOMES
2000 or Newer 7.2
1970 - 1999 41.8
1940 - 1969 33.9
1939 or Older 17.1

Types of Homes

TYPE OF Devils Lake HOMES
Single-Family 49.9
Townhomes 2.3
Small Apt. Buildings 8.2
Apt. Complexes 30.9
Mobile Homes 8.7
Other 0.0

Home Size

SIZE OF Devils Lake HOMES
No Bedroom 2.08
1 Bedroom 18.95
2 Bedrooms 30.47
3 Bedrooms 34.60
4 Bedrooms 12.04
5 or more bedrooms 1.86

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Zip Codes in Devils Lake, ND