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 | Traill County | North Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $45,624 | $140,972 | $242,182 |
| Price Trend (Annual %) | 5.7% | 2.1% | 8.2% |
| Median Gross Rent | $758 | $934 | $1,342 |
| Rent Trend (Annual %) | 5.2% | 3.5% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Traill County is about 68% lower than in North Dakota. Rent is about 19% lower than the North Dakota average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2021
Median Rent Prices, 2015-2023
Both home prices and rent are rising in Traill County, up about 5.7% and 5.2% a year respectively. Home prices are changing faster.
Median rent in Traill County rose about 35.4% between 2015 and 2023, from $559 to $758. Over the same span, rent in North Dakota rose about 31.7%.
Affordability
On average, housing unit costs 0.5 yearly household incomes in Traill County.
Buying the median-priced home in Traill County costs roughly 5.0 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 Traill County. The price-to-rent ratio in North Dakota is about 12.6.
| Metric | Traill County | North Dakota Avg | US Average |
|---|---|---|---|
| Median Home Price | $45,624 | $140,972 | $242,182 |
| Median Household Income | $88,916 | $76,061 | $78,145 |
| Price-to-Income Ratio | 0.5 | 1.9 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2021, the median home price in Traill County rose about 58.1%, while median household income rose about 100.1% 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 | Traill County | North Dakota Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 67.6% | 55.0% | 58.2% |
| Rental Rate | 23.1% | 31.7% | 31.3% |
| Vacancy Rate | 9.3% | 13.3% | 10.6% |
| Median Tenure (years) | 17.0 | 14.0 | 15.0 |
| Median Year Moved In | 2009 | 2012 | 2011 |
Traill County has a homeownership rate of 67.6%, higher than the North Dakota average of 55.0%. Its housing vacancy rate is 9.3%, compared with 13.3% in North Dakota.
Housing Stock
| Metric | Traill County | North Dakota Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.27 people | 2.31 people | 2.54 people |
| Median Structure Built Year | 1965 | 1983 | 1978 |
| Median Number of Rooms | 6.1 | 5.7 | 5.5 |
The typical housing unit in Traill County was built around 1965. On average, 2.3 people live in a home with about 6.1 rooms, staying for about 17.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Traill County, North Dakota.
What is the median home price in Traill County, North Dakota?
The median home price in Traill County, North Dakota is $45,624, lower than the North Dakota average of $140,972.
What is the average home price in Traill 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 Traill County, North Dakota?
The median gross rent in Traill County, North Dakota is $758 per month, lower than the North Dakota average of $934.
What was the median gross rent in Traill County in 2020?
In 2020, the median gross rent in Traill County, North Dakota was $642 per month.
What is the price-to-rent ratio in Traill County, North Dakota?
The price-to-rent ratio in Traill County, North Dakota is about 5.0, meaning it would take roughly 5.0 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 Traill County.
Are home prices or rent rising faster in Traill County, North Dakota?
Both home prices and rent are rising in Traill County, up about 5.7% and 5.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Traill County, North Dakota?
67.6% of households in Traill County, North Dakota own their home, higher than the North Dakota average of 55.0%.
What is the vacancy rate in Traill County, North Dakota?
The housing vacancy rate in Traill County, North Dakota is 9.3%, lower than the North Dakota average of 13.3%.