Minot, ND
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Minot Neighborhoods Since 2000




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 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

Minot Housing Market Information

With 49,450 people, 18,779 houses or apartments, and a median cost of homes of $207,499, 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 49.33% of the city's housing units. Other types of housing that are prevalent in Minot include large apartment complexes or high rise apartments ( 20.75%), duplexes, homes converted to apartments or other small apartment buildings ( 14.38%), and a few mobile homes or trailers ( 8.42%).

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 1940-1969 ( 29.96%). A lesser amount of the housing stock also hails from between 2000 and later ( 20.64%). There's also some housing in Minot built before 1939 ( 12.67%).

Vacant housing appears to be an issue in Minot. Fully 13.68% 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

In the last 10 years, Minot has experienced some of the highest home appreciation rates of any community in the nation. Minot real estate appreciated 64.72% over the last ten years, which is an average annual home appreciation rate of 5.12%, putting Minot in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Minot definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Minot's appreciation rate, at 3.58%, has been at or slightly above the national average. In the latest quarter, Minot's appreciation rate has been 3.17%, which annualizes to a rate of 13.29%.

Importantly, NeighborhoodScout’s exclusive research found that Minot'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 Minot'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 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:
$207,499

Minot, ND HOME PRICES

Value Range
> $1,084,000 0.4
$813,001 - $1,084,000 0.2
$542,001 - $813,000 1.6
$434,001 - $542,000 2.5
$325,001 - $434,000 9.9
$217,001 - $325,000 27.1
$108,001 - $217,000 39.6
$54,001 - $108,000 9.5
$0 - $54,000 9.2

High for ND
High for Nation

Value Relative to Nation Value Relative to State
30.399624985351 20.353982300885

Number Of Homes And Apartments:
18,779

Minot 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
136.47% 5.12% 5 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,552 / per month

Homeownership Rate

Homeownership
Owners 58.26
Renters 41.74
Vacant 13.68

Housing Market Details

 

Age of Homes

AGE OF Minot HOMES
2000 or Newer 20.6
1970 - 1999 36.7
1940 - 1969 30.0
1939 or Older 12.7

Types of Homes

TYPE OF Minot HOMES
Single-Family 49.3
Townhomes 7.1
Small Apt. Buildings 14.4
Apt. Complexes 20.7
Mobile Homes 8.4
Other 0.0

Home Size

SIZE OF Minot HOMES
No Bedroom 2.37
1 Bedroom 11.63
2 Bedrooms 33.78
3 Bedrooms 29.28
4 Bedrooms 16.09
5 or more bedrooms 6.85