Minot, ND—58701
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Minot, ND
Home Price Trends — Minot, ND
As of Oct '25, the median home price in Minot, ND is $280,000, with a year-over-year change of 3.8%. This indicates that home prices in Minot, ND are increasing. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $280,000 | 3.8% |
| Single Family | $287,000 | 3.2% |
| Condos | $210,000 | 3.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $196,000 | 3.7% |
3 Bed | $276,000 | 3.8% |
4 Bed | $345,000 | 3.0% |
| 5 Bed | $446,000 | 2.3% |
% of Housing Stock
Rental Trends — Minot, ND
As of July '25, Rentcast reports the average rent in Minot, ND is $1,060, with a year-over-year rent change of 2.9%. Per bedroom, the median rent as of July '25 in Minot, ND is studios: $1,420, 1-bedrooms: $798, 2-bedrooms: $1,040, 3-bedrooms: $1,550, 4-bedrooms: $1,950. The most common rental property sizes in Minot, ND are 2-bedroom and 1-bedroom, accounting for 47.7% and 26.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $985 | $1,060 |
| Studio Rent | $1,650 | $1,420 |
| 1 Bed Rent | $795 | $798 |
| 2 Bed Rent | $950 | $1,040 |
| 3 Bed Rent | $1,300 | $1,550 |
| 4 Bed Rent | $1,950 | $1,950 |
% of Rental Stock
Property Listings — Minot, ND
As of Oct '25, Realtor.com reports that the median days on market for a home in Minot, ND is 38. This is a increase of 8.0% 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 26.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $331,000 | 8.0% |
Listing Count | 121 | 14.0% |
| Listings as % of Homes | 0.5% | 14.0% |
Days on Market | 38 | 8.0% |
Demographics — Minot, ND
As of the latest ACS Survey released in 2023, Minot, ND has a population of 32,900, which has remained stable by 0.1% over the past 5 years. Minot, ND is a moderately popular place for families, as children make up 22.7% of the population. The area has a moderately educated workforce, with 28.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 32,900 | 0.1% |
% Under 18 | 22.7% | -3.4% |
% Seniors | 15.1% | 7.9% |
% WFH | 5.8% | 65.7% |
% w/ College Degree | 28.3% | 8.0% |
As of the latest ACS Survey released in 2023, Minot, ND is a predominantly white area, with 82.6% of the population identifying as white. The white population has shrunk by 2.7% in the last 5 years. The second most common race or ethnicity in Minot, ND is hispanic, making up 4.9% of the population. Foreign-born residents account for 4.9% of the population in Minot, ND, and this percentage has increased by 25.6% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 82.6% | -2.7% |
% Black | 2.6% | -46.9% |
% Hispanic | 4.9% | 14.0% |
% Asian | 1.9% | 11.8% |
% Foreign Born | 4.9% | 25.6% |
Mortgage and Risk — Minot, ND
According to HUD data as of 2023, there were 358 mortgage originations in Minot, ND, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 44.0% above 90% LTV (very high). This implies large mortgage risk in Minot, ND. Investor activity is low, as 0.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 358 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 0.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Minot, ND
Minot, ND lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1,110 |
Total Units Section 8 | 857 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 86.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$75 | $795 | $720 |
| 2 Bedroom | -$20 | $950 | $930 |
| 3 Bedroom | $0 | $1,300 | $1,300 |
| 4 Bedroom | -$390 | $1,950 | $1,560 |
Affordability — Minot, ND
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $280,000 |
| Median Household Income | $75,300 |