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 a population of 56,948, 24,991 total housing units (homes and apartments), and a median house value of $222,423, 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 44.80% of the city's housing units. Other types of housing that are prevalent in Grand Forks include single-family detached homes ( 36.70%), duplexes, homes converted to apartments or other small apartment buildings ( 8.36%), and a few row houses and other attached homes ( 7.35%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.
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 ( 21.44%). A lesser amount of the housing stock also hails from between 2000 and later ( 21.01%). There's also some housing in Grand Forks built before 1939 ( 12.85%).
Appreciation rates for homes in Grand Forks have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 41.66%, which ranks in the top 30% nationwide. This equates to an annual average Grand Forks house appreciation rate of 3.54%.
NeighborhoodScout's data show that during the latest twelve months, Grand Forks's appreciation rate, at 4.96%, has been at or slightly above the national average. In the latest quarter, Grand Forks's appreciation rate has been 2.05%, which annualizes to a rate of 8.46%.
Importantly, this makes Grand Forks 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 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.
|$818,001 - $1,091,000||0.9|
|$545,001 - $818,000||1.7|
|$437,001 - $545,000||3.4|
|$327,001 - $437,000||11.2|
|$218,001 - $327,000||28.1|
|$109,001 - $218,000||39.5|
|$54,001 - $109,000||6.7|
|$0 - $54,000||8.4|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
2019 Q3 - 2019 Q4
Last 12 Months:
2018 Q4 - 2019 Q4
Last 2 Years:
2017 Q4 - 2019 Q4
Last 5 Years:
2014 Q4 - 2019 Q4
Last 10 Years:
2009 Q4 - 2019 Q4
2000 Q1 - 2019 Q4
|* 10 is highest|
|AGE OF Grand Forks HOMES|
|2000 or Newer||21.0|
|1970 - 1999||44.7|
|1940 - 1969||21.4|
|1939 or Older||12.8|
|TYPE OF Grand Forks HOMES|
|Small Apt. Buildings||8.4|
|SIZE OF Grand Forks HOMES|
|5 or more bedrooms||5.59|