North Dakota Housing Market Prices
North Dakota 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.
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Median home price 49% below the US median Cheaper than 90% of states in US$125,877
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Median rent 32% below the US median Among the top 5 cheapest states in US$953
Median Home Price Map: Counties in North Dakota
Housing Market Overview
| Metric | North Dakota | US Average |
|---|---|---|
| Median Home Price | $125,877 | $248,835 |
| Price Trend (Annual %) | 0.5% | 7.5% |
| Median Gross Rent | $953 | $1,407 |
| Rent Trend (Annual %) | 3.3% | 5.1% |
| Household Income Trend (Annual %) | — | — |
The median home price in North Dakota is about 49% lower than in US. Rent is about 32% lower than the US 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 North Dakota, up about 0.5% and 3.3% a year respectively. Rent is changing faster.
Median rent in North Dakota rose about 34.4% between 2015 and 2024, from $709 to $953. Over the same span, rent in US rose about 52.1%.
Affordability
On average, housing unit costs 1.6 yearly household incomes in North Dakota.
Buying the median-priced home in North Dakota costs roughly 11.0 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 North Dakota. The price-to-rent ratio in US is about 14.7.
| Metric | North Dakota | US Average |
|---|---|---|
| Median Home Price | $125,877 | $248,835 |
| Median Household Income | $76,862 | $80,455 |
| Price-to-Income Ratio | 1.6 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in North Dakota rose about 18.7%, while median household income rose about 65.0% between 2009 and 2025 — 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 | North Dakota | US Average |
|---|---|---|
| Homeownership Rate | 55.2% | 58.5% |
| Rental Rate | 32.6% | 31.2% |
| Vacancy Rate | 12.3% | 10.2% |
| Median Tenure (years) | 14.0 | 15.0 |
| Median Year Moved In | 2012 | 2011 |
North Dakota has a homeownership rate of 55.2%, lower than the US average of 58.5%. Its housing vacancy rate is 12.3%, compared with 10.2% in US.
Housing Stock
| Metric | North Dakota | US Average |
|---|---|---|
| Average Household Size | 2.29 people | 2.53 people |
| Median Structure Built Year | 1984 | 1978 |
| Median Number of Rooms | 5.7 | 5.5 |
The typical housing unit in North Dakota was built around 1984. On average, 2.3 people live in a home with about 5.7 rooms, staying for about 14.0 years on average.
North Dakota Housing Compared With Nearby States
North Dakota is the 5th largest of the 6 states compared here, 784,730 residents against a local median of 1,978,686. The measure that sets North Dakota apart most is median home price: $125,877, 28% below the local median of $175,282.
The states themselves spread $169,942 on median home price, so North Dakota sits at one end of an already wide local range rather than apart from it. North Dakota has the 5th highest median home price of the 6 areas compared here.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| North Dakota | 784,730 | $125,877 #5/6 | $953 #5/6 | 62.9% #6/6 |
| South Dakota | 907,403 | $92,142 | $946 | 68.6% |
| Nebraska | 1,978,686 | $175,282 | $1,071 | 66.5% |
| Minnesota | 5,724,000 | $236,718 | $1,280 | 72.2% |
| Wyoming | 582,314 | $262,084 | $991 | 71.8% |
| Iowa | 3,204,793 | $153,425 | $971 | 71.7% |
Frequently Asked Questions
Common questions about the housing market in North Dakota.
What is the median home price in North Dakota?
The median home price in North Dakota is $125,877, lower than the US average of $248,835.
What is the average home price in North Dakota?
The typical home price in North Dakota, reported as the median sale price, is $125,877. 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 North Dakota?
The median gross rent in North Dakota is $953 per month, lower than the US average of $1,407.
What was the median gross rent in North Dakota in 2020?
In 2020, the median gross rent in North Dakota was $827 per month.
What is the price-to-rent ratio in North Dakota?
The price-to-rent ratio in North Dakota is about 11.0, meaning it would take roughly 11.0 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 North Dakota.
Are home prices or rent rising faster in North Dakota?
Both home prices and rent are rising in North Dakota, up about 0.5% and 3.3% a year respectively. Rent is changing faster.
What is the homeownership rate in North Dakota?
55.2% of households in North Dakota own their home, lower than the US average of 58.5%.
What is the vacancy rate in North Dakota?
The housing vacancy rate in North Dakota is 12.3%, higher than the US average of 10.2%.
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