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 | Griggs County | North Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $178,288 | $140,972 | $242,182 |
| Price Trend (Annual %) | 17.5% | 2.1% | 8.2% |
| Median Gross Rent | $606 | $934 | $1,342 |
| Rent Trend (Annual %) | 6.5% | 3.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Griggs County is about 26% higher than in North Dakota. Rent is about 35% lower than the North Dakota average.
Median Home and Rent Price Trends
Median Home Prices, 2017-2023
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Griggs County, up about 17.5% and 6.5% a year respectively. Home prices are changing faster.
Median rent in Griggs County rose about 49.3% between 2015 and 2023, from $406 to $606. Over the same span, rent in North Dakota rose about 31.7%.
Affordability
On average, housing unit costs 2.7 yearly household incomes in Griggs County.
Buying the median-priced home in Griggs County costs roughly 24.5 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 Griggs County. The price-to-rent ratio in North Dakota is about 12.6.
| Metric | Griggs County | North Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $178,288 | $140,972 | $242,182 |
| Median Household Income | $67,114 | $76,061 | $78,145 |
| Price-to-Income Ratio | 2.7 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2017 and 2023, the median home price in Griggs County rose about 87.7%, while median household income rose about 73.1% 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 | Griggs County | North Dakota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 55.5% | 55.0% | 58.2% |
| Rental Rate | 14.4% | 31.7% | 31.3% |
| Vacancy Rate | 30.1% | 13.3% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Griggs County has a homeownership rate of 55.5%, higher than the North Dakota average of 55.0%. Its housing vacancy rate is 30.1%, compared with 13.3% in North Dakota.
Housing Stock
| Metric | Griggs County | North Dakota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.39 people | 2.31 people | 2.54 people |
| Median Structure Built Year | 1967 | 1983 | 1978 |
| Median Number of Rooms | 6.7 | 5.7 | 5.5 |
The typical housing unit in Griggs County was built around 1967. On average, 2.4 people live in a home with about 6.7 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Griggs County, North Dakota.
What is the median home price in Griggs County, North Dakota?
The median home price in Griggs County, North Dakota is $178,288, higher than the North Dakota average of $140,972.
What is the average home price in Griggs 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 Griggs County, North Dakota?
The median gross rent in Griggs County, North Dakota is $606 per month, lower than the North Dakota average of $934.
What was the median gross rent in Griggs County in 2020?
In 2020, the median gross rent in Griggs County, North Dakota was $565 per month.
What is the price-to-rent ratio in Griggs County, North Dakota?
The price-to-rent ratio in Griggs County, North Dakota is about 24.5, meaning it would take roughly 24.5 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 Griggs County.
Are home prices or rent rising faster in Griggs County, North Dakota?
Both home prices and rent are rising in Griggs County, up about 17.5% and 6.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Griggs County, North Dakota?
55.5% of households in Griggs County, North Dakota own their home, higher than the North Dakota average of 55.0%.
What is the vacancy rate in Griggs County, North Dakota?
The housing vacancy rate in Griggs County, North Dakota is 30.1%, higher than the North Dakota average of 13.3%.