Grand Forks, ND
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Grand Forks Neighborhoods Since 2000




Grand Forks, 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

Grand Forks Housing Market Information

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%).

Grand Forks Home Appreciation Rates

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.

Average Home Values

 

Median Home Value:
$215,711

Grand Forks, ND HOME PRICES

Value Range
> $1,242,000 0.2
$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

Very High for ND
High for Nation

Value Relative to Nation Value Relative to State
28.5655689675378 18.5840707964602

Number Of Homes And Apartments:
23,319

Grand Forks 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
114.81% 4.53% 4 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,020 / per month

Homeownership Rate

Homeownership
Owners 41.87
Renters 58.13
Vacant 5.50

Housing Market Details

 

Age of Homes

AGE OF Grand Forks HOMES
2000 or Newer 17.5
1970 - 1999 46.2
1940 - 1969 24.4
1939 or Older 12.0

Types of Homes

TYPE OF Grand Forks HOMES
Single-Family 39.6
Townhomes 8.1
Small Apt. Buildings 8.2
Apt. Complexes 41.4
Mobile Homes 2.8
Other 0.0

Home Size

SIZE OF Grand Forks HOMES
No Bedroom 2.18
1 Bedroom 17.97
2 Bedrooms 33.39
3 Bedrooms 24.87
4 Bedrooms 16.04
5 or more bedrooms 5.56