Horace, ND—58047
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Horace, ND
Home Price Trends — Horace, ND
As of Oct '25, the median home price in Horace, ND is $410,000, with a year-over-year change of 0.8%. This indicates that home prices in Horace, ND are flat. According to Zillow, the 1-year price projection is 0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $410,000 | 0.8% |
| Single Family | $412,000 | 1.2% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Horace, ND
As of July '25, Rentcast reports the average rent in Horace, ND is $2,330, with a year-over-year rent change of -2.1%. Per bedroom, the median rent as of July '25 in Horace, ND is 3-bedrooms: $2,280, 4-bedrooms: $2,380. The most common rental property sizes in Horace, ND are 3-bedroom and 2-bedroom, accounting for 69.0% and 16.7% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,250 | $2,330 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $2,200 | $2,280 |
| 4 Bed Rent | $2,400 | $2,380 |
% of Rental Stock
Property Listings — Horace, ND
As of Oct '25, Realtor.com reports that the median days on market for a home in Horace, ND is 102. This is a increase of 26.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $395,000 | 1.0% |
Listing Count | 154 | 9.0% |
| Listings as % of Homes | 6.2% | 9.0% |
Days on Market | 102 | 26.0% |
Demographics — Horace, ND
As of the latest ACS Survey released in 2023, Horace, ND has a population of 5,140, which has increased by 25.1% over the past 5 years. Horace, ND is a popular place for families, as children make up 35.8% of the population. The area has a moderately educated workforce, with 43.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,140 | 25.1% |
% Under 18 | 35.8% | 71.3% |
% Seniors | 7.0% | -70.6% |
% WFH | 10.8% | 191.9% |
% w/ College Degree | 43.5% | 13.9% |
As of the latest ACS Survey released in 2023, Horace, ND is a predominantly white area, with 88.8% of the population identifying as white. The white population has shrunk by 3.2% in the last 5 years. The second most common race or ethnicity in Horace, ND is hispanic, making up 6.2% of the population. Foreign-born residents account for 2.3% of the population in Horace, ND, and this percentage has decreased by 34.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 88.8% | -3.2% |
% Black | 1.7% | 183.3% |
% Hispanic | 6.2% | -1.6% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 2.3% | -34.3% |
Mortgage and Risk — Horace, ND
According to HUD data as of 2023, there were 271 mortgage originations in Horace, ND, of which 73.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 39.0% above 90% LTV (very high). This implies large mortgage risk in Horace, ND. Investor activity is low, as 6.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 271 |
% Conventional Loans | 73.0% |
% Government Loans | 27.0% |
% Investor Loans | 6.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Horace, ND
Horace, ND lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 2.4% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $770 |
| 2 Bedroom | N/A | N/A | $930 |
| 3 Bedroom | -$890 | $2,200 | $1,310 |
| 4 Bedroom | -$820 | $2,400 | $1,580 |
Affordability — Horace, ND
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $410,000 |
| Median Household Income | $142,000 |