Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Adams County | North Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $211,110 | $140,972 | $242,182 |
| Price Trend (Annual %) | 26.6% | 2.1% | 8.2% |
| Median Gross Rent | $544 | $934 | $1,342 |
| Rent Trend (Annual %) | 2.8% | 3.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Adams County is about 50% higher than in North Dakota. Rent is about 42% lower than the North Dakota average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2022
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Adams County, up about 26.6% and 2.8% a year respectively. Home prices are changing faster.
Median rent in Adams County rose about 13.2% between 2015 and 2023, from $481 to $544. Over the same span, rent in North Dakota rose about 31.7%.
Affordability
On average, housing unit costs 3.8 yearly household incomes in Adams County.
Buying the median-priced home in Adams County costs roughly 32.3 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Adams County. The price-to-rent ratio in North Dakota is about 12.6.
| Metric | Adams County | North Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $211,110 | $140,972 | $242,182 |
| Median Household Income | $55,421 | $76,061 | $78,145 |
| Price-to-Income Ratio | 3.8 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2022, the median home price in Adams County rose about 507.1%, while median household income rose about 54.4% between 2009 and 2023 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Adams County | North Dakota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 56.3% | 55.0% | 58.2% |
| Rental Rate | 20.0% | 31.7% | 31.3% |
| Vacancy Rate | 23.7% | 13.3% | 10.6% |
| Median Tenure (years) | 21.0 | 14.0 | 15.0 |
| Median Year Moved In | 2005 | 2012 | 2011 |
Adams County has a homeownership rate of 56.3%, higher than the North Dakota average of 55.0%. Its housing vacancy rate is 23.7%, compared with 13.3% in North Dakota.
Housing Stock
| Metric | Adams County | North Dakota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.06 people | 2.31 people | 2.54 people |
| Median Structure Built Year | 1964 | 1983 | 1978 |
| Median Number of Rooms | 5.9 | 5.7 | 5.5 |
The typical housing unit in Adams County was built around 1964. On average, 2.1 people live in a home with about 5.9 rooms, staying for about 21.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Adams County, North Dakota.
What is the median home price in Adams County, North Dakota?
The median home price in Adams County, North Dakota is $211,110, higher than the North Dakota average of $140,972.
What is the average home price in Adams County, North Dakota?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Adams County, North Dakota?
The median gross rent in Adams County, North Dakota is $544 per month, lower than the North Dakota average of $934.
What was the median gross rent in Adams County in 2020?
In 2020, the median gross rent in Adams County, North Dakota was $586 per month.
What is the price-to-rent ratio in Adams County, North Dakota?
The price-to-rent ratio in Adams County, North Dakota is about 32.3, meaning it would take roughly 32.3 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Adams County.
Are home prices or rent rising faster in Adams County, North Dakota?
Both home prices and rent are rising in Adams County, up about 26.6% and 2.8% a year respectively. Home prices are changing faster.
What is the homeownership rate in Adams County, North Dakota?
56.3% of households in Adams County, North Dakota own their home, higher than the North Dakota average of 55.0%.
What is the vacancy rate in Adams County, North Dakota?
The housing vacancy rate in Adams County, North Dakota is 23.7%, higher than the North Dakota average of 13.3%.