Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 58,692, 25,487 total housing units (homes and apartments), and a median house value of $302,558, Grand Forks real estate and house prices are near the national average for all cities and towns.
Large apartment complexes or high rise apartments are the single most common housing type in Grand Forks, accounting for 43.07% of the city's housing units. Other types of housing that are prevalent in Grand Forks include single-family detached homes ( 37.64%), row houses and other attached homes ( 9.04%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 6.97%). This particular housing mix is relatively uncommon and characteristic of cities that are compact and walkable, and which often have a lively downtown.
People in Grand Forks primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Grand Forks has a mixture of owner-occupied and renter-occupied housing.
There is a lot of housing in Grand Forks built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Grand Forks built between 2000 and later ( 28.79%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.03%). There's also some housing in Grand Forks built before 1939 ( 10.67%).
Some of the lowest real estate appreciation rates in America over the last ten years have been in Grand Forks, where house values have increased just 42.36%, which is annualized rate of 3.59%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
NeighborhoodScout's data show that during the latest twelve months, Grand Forks's appreciation rate, at 5.89%, has been at or slightly above the national average. In the latest quarter, Grand Forks's appreciation rate has been 0.00%, which annualizes to a rate of 0.00%.
Notably, Grand Forks's appreciation rate in the latest quarter is one of the lowest in America.
Relative to North Dakota, our data show that Grand Forks's latest annual appreciation rate is lower than 70% of the other cities and towns in North Dakota.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Grand Forks differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Grand Forks - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Grand Forks real estate investment or home purchase decisions.
$302,558
for North dakota
for nation
25,487
$1,204 / per month