Grand Forks, North Dakota Housing Market Prices
Grand Forks Home Prices and Rent at a Glance
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 43% above the North Dakota median$179,624
-
Median rent About the same as the North Dakota median$954
Housing Market Overview
| Metric | Grand Forks | North Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $179,624 | $125,877 | $248,835 |
| Price Trend (Annual %) | 18.5% | 0.5% | 7.5% |
| Median Gross Rent | $954 | $953 | $1,407 |
| Rent Trend (Annual %) | 2.9% | 3.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Grand Forks is about 43% higher than in North Dakota. Rent follows a similar pattern, running close to the North Dakota average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Grand Forks, up about 18.5% and 2.9% a year respectively. Home prices are changing faster.
Median rent in Grand Forks rose about 27.0% between 2015 and 2024, from $752 to $954. Over the same span, rent in North Dakota rose about 34.4%.
Affordability
On average, housing unit costs 2.8 yearly household incomes in Grand Forks.
Buying the median-priced home in Grand Forks costs roughly 15.7 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Grand Forks. The price-to-rent ratio in North Dakota is about 11.0.
| Metric | Grand Forks | North Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $179,624 | $125,877 | $248,835 |
| Median Household Income | $64,378 | $76,862 | $80,455 |
| Price-to-Income Ratio | 2.8 | 1.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Grand Forks rose about 159.7%, while median household income rose about 55.2% between 2009 and 2025 — 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 | Grand Forks | North Dakota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 43.8% | 55.2% | 58.5% |
| Rental Rate | 49.4% | 32.6% | 31.2% |
| Vacancy Rate | 6.9% | 12.3% | 10.2% |
| Median Tenure (years) | 9.0 | 14.0 | 15.0 |
| Median Year Moved In | 2017 | 2012 | 2011 |
Grand Forks has a homeownership rate of 43.8%, lower than the North Dakota average of 55.2%. Its housing vacancy rate is 6.9%, compared with 12.3% in North Dakota.
Housing Stock
| Metric | Grand Forks | North Dakota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.10 people | 2.29 people | 2.53 people |
| Median Structure Built Year | 1983 | 1984 | 1978 |
| Median Number of Rooms | 5.0 | 5.7 | 5.5 |
The typical housing unit in Grand Forks was built around 1983. On average, 2.1 people live in a home with about 5.0 rooms, staying for about 9.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Grand Forks, North Dakota.
What is the median home price in Grand Forks, North Dakota?
The median home price in Grand Forks, North Dakota is $179,624, higher than the North Dakota average of $125,877.
What is the average home price in Grand Forks, North Dakota?
The typical home price in Grand Forks, North Dakota, reported as the median sale price, is $179,624. 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 Grand Forks, North Dakota?
The median gross rent in Grand Forks, North Dakota is $954 per month, about the same as the North Dakota average.
What was the median gross rent in Grand Forks in 2020?
In 2020, the median gross rent in Grand Forks, North Dakota was $797 per month.
What is the price-to-rent ratio in Grand Forks, North Dakota?
The price-to-rent ratio in Grand Forks, North Dakota is about 15.7, meaning it would take roughly 15.7 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Grand Forks.
Are home prices or rent rising faster in Grand Forks, North Dakota?
Both home prices and rent are rising in Grand Forks, up about 18.5% and 2.9% a year respectively. Home prices are changing faster.
What is the homeownership rate in Grand Forks, North Dakota?
43.8% of households in Grand Forks, North Dakota own their home, lower than the North Dakota average of 55.2%.
What is the vacancy rate in Grand Forks, North Dakota?
The housing vacancy rate in Grand Forks, North Dakota is 6.9%, lower than the North Dakota average of 12.3%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →