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 | Foster County | North Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $46,666 | $140,972 | $242,182 |
| Price Trend (Annual %) | -6.1% | 2.1% | 8.2% |
| Median Gross Rent | $756 | $934 | $1,342 |
| Rent Trend (Annual %) | 5.4% | 3.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Foster County is about 67% lower than in North Dakota. Rent is about 19% lower than the North Dakota average.
Median Home and Rent Price Trends
Median Home Prices, 2019-2023
Median Rent Prices, 2015-2023
Home prices and rent are moving in opposite directions in Foster County: home prices fell about 6.1% a year while rent rose about 5.4% a year. That is an unusual pattern worth watching.
Median rent in Foster County rose about 47.7% between 2015 and 2023, from $512 to $756. Over the same span, rent in North Dakota rose about 31.7%.
Affordability
On average, housing unit costs 0.6 yearly household incomes in Foster County.
Buying the median-priced home in Foster County costs roughly 5.1 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Foster County. The price-to-rent ratio in North Dakota is about 12.6.
| Metric | Foster County | North Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $46,666 | $140,972 | $242,182 |
| Median Household Income | $81,350 | $76,061 | $78,145 |
| Price-to-Income Ratio | 0.6 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2019 and 2023, the median home price in Foster County fell about 34.1%, while median household income rose about 98.6% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Foster County | North Dakota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 65.8% | 55.0% | 58.2% |
| Rental Rate | 19.2% | 31.7% | 31.3% |
| Vacancy Rate | 15.0% | 13.3% | 10.6% |
| Median Tenure (years) | 16.0 | 14.0 | 15.0 |
| Median Year Moved In | 2010 | 2012 | 2011 |
Foster County has a homeownership rate of 65.8%, higher than the North Dakota average of 55.0%. Its housing vacancy rate is 15.0%, compared with 13.3% in North Dakota.
Housing Stock
| Metric | Foster County | North Dakota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.16 people | 2.31 people | 2.54 people |
| Median Structure Built Year | 1971 | 1983 | 1978 |
| Median Number of Rooms | 6.6 | 5.7 | 5.5 |
The typical housing unit in Foster County was built around 1971. On average, 2.2 people live in a home with about 6.6 rooms, staying for about 16.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Foster County, North Dakota.
What is the median home price in Foster County, North Dakota?
The median home price in Foster County, North Dakota is $46,666, lower than the North Dakota average of $140,972.
What is the average home price in Foster 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 Foster County, North Dakota?
The median gross rent in Foster County, North Dakota is $756 per month, lower than the North Dakota average of $934.
What was the median gross rent in Foster County in 2020?
In 2020, the median gross rent in Foster County, North Dakota was $597 per month.
What is the price-to-rent ratio in Foster County, North Dakota?
The price-to-rent ratio in Foster County, North Dakota is about 5.1, meaning it would take roughly 5.1 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Foster County.
Are home prices or rent rising faster in Foster County, North Dakota?
Home prices and rent are moving in opposite directions in Foster County: home prices fell about 6.1% a year while rent rose about 5.4% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Foster County, North Dakota?
65.8% of households in Foster County, North Dakota own their home, higher than the North Dakota average of 55.0%.
What is the vacancy rate in Foster County, North Dakota?
The housing vacancy rate in Foster County, North Dakota is 15.0%, higher than the North Dakota average of 13.3%.