Minot ND

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Minot, 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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Minot Housing Market Information

With 47,370 people, 20,278 houses or apartments, and a median cost of homes of $213,192, Minot real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Minot, accounting for 45.80% of the city's housing units. Other types of housing that are prevalent in Minot include large apartment complexes or high rise apartments ( 27.46%), duplexes, homes converted to apartments or other small apartment buildings ( 11.83%), and a few mobile homes or trailers ( 7.71%).

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

There is a lot of housing in Minot 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 Minot built between 2000 and later ( 32.67%). A lesser amount of the housing stock also hails from between 1940-1969 ( 24.47%). There's also some housing in Minot built before 1939 ( 8.47%).

Vacant housing appears to be an issue in Minot. Fully 15.78% of the housing stock is classified as vacant. Left unchecked, vacant Minot homes and apartments can be a drag on the real estate market, holding Minot real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Minot Home Appreciation Rates

Appreciation rates for homes in Minot have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 36.71%, which ranks in the top 40% nationwide. This equates to an annual average Minot house appreciation rate of 3.18%.

Over the last year, Minot appreciation rates have trailed the rest of the nation. In the last twelve months, Minot's appreciation rate has been 0.53%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Minot were at -0.39%, which equates to an annual appreciation rate of -1.55%.

Notably, Minot's appreciation rate in the latest quarter is one of the lowest in America.

Relative to North Dakota, our data show that Minot's latest annual appreciation rate is lower 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 Minot differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Minot - 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 Minot real estate investment or home purchase decisions.

Average Home Values


Median Home Value:


Value Range
> $1,029,000 0.3
$773,001 - $1,029,000 0.0
$515,001 - $773,000 1.1
$412,001 - $515,000 3.5
$309,001 - $412,000 12.2
$206,001 - $309,000 32.1
$103,001 - $206,000 34.9
$52,001 - $103,000 6.8
$0 - $52,000 9.1

High for ND
High for Nation

Value Relative to Nation Value Relative to State
37.2963503649635 23.6842105263158

Number Of Homes And Apartments:

Minot Appreciation Rates

Time Period Total Appreciation Avg. Annual Rate Compared To
Compared To
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
133.53% 4.22%
* 10 is highest

Rent & Ownership


Average Market Rent:
$1,291 / per month

Homeownership Rate

Owners 56.86
Renters 43.14
Vacant 15.78

Housing Market Details


Age of Homes

2000 or Newer 32.7
1970 - 1999 34.4
1940 - 1969 24.5
1939 or Older 8.5

Types of Homes

Single-Family 45.8
Townhomes 7.2
Small Apt. Buildings 11.8
Apt. Complexes 27.5
Mobile Homes 7.7
Other 0.0

Home Size

No Bedroom 2.23
1 Bedroom 12.35
2 Bedrooms 35.71
3 Bedrooms 28.45
4 Bedrooms 14.58
5 or more bedrooms 6.68