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
With 57,011 people, 23,319 houses or apartments, and a median cost of homes of $215,711, Grand Forks real estate prices are well above average cost compared to national prices.
Large apartment complexes or high rise apartments are the single most common housing type in Grand Forks, accounting for 41.36% of the city's housing units. Other types of housing that are prevalent in Grand Forks include single-family detached homes ( 39.60%), duplexes, homes converted to apartments or other small apartment buildings ( 8.16%), and a few row houses and other attached homes ( 8.12%). 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 1940-1969 ( 24.37%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.46%). There's also some housing in Grand Forks built before 1939 ( 11.96%).
In the last 10 years, Grand Forks has experienced some of the highest home appreciation rates of any community in the nation. Grand Forks real estate appreciated 46.30% over the last ten years, which is an average annual home appreciation rate of 3.88%, putting Grand Forks in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Grand Forks 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 Grand Forks that despite a nationwide downturn in the housing market, Grand Forks real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Grand Forks appreciation rates continue to be some of the highest in America, at 6.80%, which is higher than appreciation rates in 79.98% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Grand Forks. Grand Forks appreciation rates in the latest quarter were at 3.63%, which equates to an annual appreciation rate of 15.35%.
Importantly, NeighborhoodScout’s exclusive research found that Grand Forks's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.
Relative to North Dakota, our data show that Grand Forks's latest annual appreciation rate is higher than 90% 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.
|$931,001 - $1,242,000||0.7|
|$621,001 - $931,000||0.7|
|$497,001 - $621,000||1.4|
|$372,001 - $497,000||7.6|
|$248,001 - $372,000||21.7|
|$124,001 - $248,000||47.7|
|$62,001 - $124,000||11.8|
|$0 - $62,000||8.2|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Grand Forks HOMES|
|2000 or Newer||17.5|
|1970 - 1999||46.2|
|1940 - 1969||24.4|
|1939 or Older||12.0|
|TYPE OF Grand Forks HOMES|
|Small Apt. Buildings||8.2|
|SIZE OF Grand Forks HOMES|
|5 or more bedrooms||5.56|