North Dakota Housing Market: Home Prices, Rent and Affordability
The typical North Dakota home is worth $292,293, up 5.2% over the past year and up 19.0% over five years, 20.7% below the national $368,697 (latest release). That ranks #35 of 50 on price. A 20%-down mortgage runs $1,504 a month and takes about $79,542 of income; the median North Dakota household earns $77,871, $1,671 short.
In Fargo, the state's largest metro, typical rent is $1,100 a month against a $1,691 principal-and-interest payment on the typical home, so renting is $591 a month cheaper before taxes, insurance and maintenance. The market is hot: 22.2% of listings cut their price (national 26.4%), homes go pending in 44 days (national 53), and for-sale inventory is down 1.4% from a year ago.
All housing figures are the latest published numbers for August; median household income is from the Census Bureau.
North Dakota Housing by the Numbers
How much does a house cost in North Dakota? The typical home is worth $292,293, the median sale price is $316,300 and the median list price $327,117. The six figures below describe the market this month, each with the national comparison.
- Typical home
- $292,293
- #35 priciest · national $369K
- Mortgage payment
- $1,504/mo
- P&I, 20% down · national $1,897
- Income needed
- $80K
- median earns $78K (+2%)
- Rent, Fargo
- $1,100/mo
- +2.9% in 1 yr · national $1,948
- Price cuts
- 22.2%
- of listings · national 26.4%
- Days to pending
- 44
- national 53 · 2,611 for sale (-1.4%)
How Have North Dakota Home Prices Changed?
The typical North Dakota home value every month since 2000, with the national typical home as a dashed line. Values rose 5.2% over the past year, are up 19.0% over five years, up 27.5% over ten, and unchanged since January 2000.
- Peak
- $292,293
- This month (all-time high)
- 10-year change
- +27.5%
- national +77.9%
- Median sale price
- $316,300
- list price $327,117
- Payment, 1-yr change
- +6.1%
- Rates and prices combined
Is It Cheaper to Rent or Buy in North Dakota?
Two direct answers from the data. Rent versus buy sets typical asking rent in Fargo, the state's largest metro, against the mortgage payment on the typical home there, since rent indexes are published by metro rather than by state. The affordability gap is the income needed to buy the typical North Dakota home minus what the median household actually earns.
Rent vs. buy · Fargo, ND
Renting is $591/month cheaper
The payment excludes property tax (0.99% of value in North Dakota), insurance and maintenance, all of which push the cost of owning higher; renting builds no equity. If values kept rising at the past five years' pace (19.0%), equity would narrow that gap over a long stay.
Affordability gap · #11 of 50
The median household is $1,671 short of the income needed
A $1,504 monthly payment takes 23.2% of the median North Dakota household's income before property tax and insurance; lenders generally cap total housing costs near 28–31%.
Full budget for your household →Is North Dakota a Buyer's or a Seller's Market?
Market temperature is our label from three market signals compared with the national market: the share of listings with a price cut, days from listing to pending (days on market), and whether homes for sale are up from a year ago. North Dakota is hot: it sellers hold the leverage: fewer price cuts, faster sales and shrinking inventory compared with the national market.
Median sale price $316,300 against a median list price of $327,117, so the typical home closes 3.3% below asking.
Where the North Dakota market is heading
Compared with a year ago, two of the three signals point tighter, in sellers' favor: the share of listings with a price cut is down 1.0 points from a year ago to 22.2%, homes take the same 44 days to go pending as a year ago, and the number of homes for sale is down 1.4%. The typical home value rose 5.2% over the same period and is at an all-time high. We publish no forecasts: these are the current-month readings, not a prediction of where North Dakota home prices go next.
Home Values and Rents in North Dakota Cities
A city-level home value or rent is available for 18 of the North Dakota cities we track. The most expensive is Horace ($407,900) and the cheapest Grafton ($161,799). Click a city for its full profile.
| City | Population | Home value | 1 yr | 5 yr | Rent | Rent 1 yr | Value ÷ income |
|---|---|---|---|---|---|---|---|
| Fargo | 131,627 | $324,126 | +4.2% | ||||
| Bismarck | 75,556 | $377,821 | +5.5% | ||||
| Grand Forks | 59,042 | $304,143 | +7.6% | ||||
| Minot | 47,791 | $280,355 | +3.4% | ||||
| West Fargo | 40,094 | $358,715 | +3.0% | ||||
| Williston | 28,056 | $375,622 | +5.6% | ||||
| Dickinson | 25,357 | $330,430 | +4.2% | ||||
| Mandan | 24,522 | $346,743 | +5.4% | ||||
| Jamestown | 15,787 | $212,121 | +5.2% | ||||
| Wahpeton | 8,010 | $239,219 | +3.5% | ||||
| Devils Lake | 7,308 | $247,081 | +7.5% | ||||
| Valley City | 6,541 | $200,821 | +6.9% | ||||
| Watford City | 6,039 | $382,846 | +6.3% | ||||
| Horace | 4,588 | $407,900 | +2.9% | ||||
| Lincoln | 4,381 | $315,863 | +3.4% | ||||
| Grafton | 4,102 | $161,799 | +5.8% | ||||
| Beulah | 3,040 | $245,462 | +3.9% | ||||
| Casselton | 2,953 | $330,522 | +7.2% |
Home value and rent are city-level indexes; population and median household income are Census ACS. Cities without a published index are omitted.
All North Dakota cities ranked →How North Dakota Compares With Nearby States
The Midwest states closest to North Dakota on price. Each card links to that state's housing page; the compare link puts the two states side by side on every category.
More on North Dakota
North Dakota dashboard
Overall rank and grade, every category score, taxes, utilities, safety, schools and all tracked cities.
What you'd keep in North Dakota
Take-home after housing, taxes, childcare, utilities and groceries for your household and income.
Who is moving to North Dakota
IRS migration data: where new residents come from, where leavers go, and what both groups earn.
North Dakota Housing Market FAQ
What is the average house price in North Dakota?
$292,293 is the typical North Dakota home value according to the latest release of the home value index, which tracks homes in the middle third of the market. The median sale price was $316,300 and the median list price $327,117. That makes North Dakota the #35 most expensive state; the national typical home is worth $368,697.
Are home prices dropping in North Dakota?
No. The typical North Dakota home value rose 5.2% over the past year and is at an all-time high. Over five years it is up 19.0% and over ten years up 27.5%. Nationally, values rose 1.2% over the year.
How have North Dakota home prices changed over the past 1, 5 and 10 years?
+5.2% over one year, +19.0% over five years and +27.5% over ten years for the typical North Dakota home value, per the latest release; the national figures are +1.2%, +20.3% and +77.9%. Since January 2000 the typical North Dakota home is unchanged. The monthly chart above shows the full series against the national line.
Will the North Dakota housing market crash?
We publish no forecasts, so this page cannot answer that; it can show the current readings and the historical worst case. Right now the typical North Dakota home value is at an all-time high after it rose 5.2% over the past year; 22.2% of listings have cut their price (national 26.4%), homes go pending in 44 days (national 53), and inventory is down 1.4% from a year ago, per Zillow Research. The largest decline in the monthly value series for North Dakota was 5.2% from February 2016 to December 2018, and values took 21 months to regain that peak.
Is it a good time to buy a house in North Dakota?
The North Dakota market is hot right now, which means it sellers hold the leverage: fewer price cuts, faster sales and shrinking inventory compared with the national market. 22.2% of listings cut their price (national 26.4%), homes go pending in 44 days (national 53), and for-sale inventory is down 1.4% from a year ago. Affordability is the constraint: buying the typical home takes $79,542 of income, $1,671 more than the median household earns. Whether the timing is right also depends on mortgage rates and how long you plan to stay.
Is North Dakota a buyer's or seller's market?
North Dakota leans toward sellers. Fewer listings are cutting prices than the national average (22.2% vs. 26.4%), homes take 44 days to go pending (national 53), and the number of homes for sale is down 1.4% from a year ago at 3K listings. None of those three signals point toward buyers.
What is the average rent in North Dakota?
In Fargo, North Dakota's largest metro, the typical asking rent is $1,100 a month, up 2.9% over the past year and up 25.4% over five years, per the rent index. The national typical rent is $1,948. Among North Dakota cities we track, rents range from $845 to $1,895 a month.
Is it cheaper to rent or buy in North Dakota?
Renting is cheaper month to month in Fargo, North Dakota's largest metro. Typical rent is $1,100 and the principal-and-interest payment on the typical home with 20% down is $1,691, a difference of $591 a month in favor of renting. The payment excludes property tax (0.99% of value in North Dakota), insurance and maintenance, and renting builds no equity, so the full answer depends on how long you stay.
How much income do you need to buy a house in North Dakota?
About $79,542 a year, using the standard assumptions of 20% down at current mortgage rates and a payment of no more than 30% of income. The median North Dakota household earns $77,871, so the typical household is $1,671 short. That is the #11 smallest affordability gap of the 50 states. The monthly payment of $1,504 equals 23.2% of the median household's income.
Where are homes cheapest and most expensive in North Dakota?
Among the North Dakota cities we track with a published home value, the most expensive typical home is in Horace ($407,900) and the cheapest in Grafton ($161,799). Also at the top: Watford City ($382,846), Bismarck ($377,821), and Williston ($375,622). The city table above lists every tracked North Dakota city with its value, one-year change and rent.
How does North Dakota compare with nearby states?
In the Midwest, the closest comparisons on price are Illinois ($297,573, up 5.3% in a year), Nebraska ($280,673, up 3.1% in a year), and Missouri ($267,879, up 3.5% in a year). North Dakota's typical home is $292,293, up 5.2%. On affordability, North Dakota ranks #11 of 50 versus Illinois at #20, Nebraska at #16, and Missouri at #13.
How current is the North Dakota housing data?
Every figure on this page comes from Zillow Research, which publishes state, metro and city data free each month for the prior month; the latest month shown is August. Median household income is from the Census Bureau's American Community Survey. We rebuild the page from the newest Zillow files as they are released.
Home values, rents, mortgage payments, income needed, inventory, price cuts, days to pending and sale and list prices are published by Zillow Research and shown as released, with attribution. Median household income and city populations are from the Census Bureau's American Community Survey. Home prices and housing markets in all 50 states →