Minot, ND—58703
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 $262,000, with a year-over-year change of 4.1%. This indicates that home prices in Minot, ND are increasing. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $262,000 | 4.1% |
| Single Family | $268,000 | 3.5% |
| Condos | $170,000 | 5.6% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $172,000 | 4.2% |
3 Bed | $255,000 | 3.7% |
4 Bed | $315,000 | 3.6% |
| 5 Bed | $411,000 | 3.0% |
% of Housing Stock
Rental Trends — Minot, ND
As of July '25, Rentcast reports the average rent in Minot, ND is $1,290, with a year-over-year rent change of 17.3%. Per bedroom, the median rent as of July '25 in Minot, ND is 1-bedrooms: $827, 2-bedrooms: $1,000, 3-bedrooms: $1,770, 4-bedrooms: $2,160. The most common rental property sizes in Minot, ND are 2-bedroom and 3-bedroom, accounting for 54.4% and 24.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,290 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $775 | $827 |
| 2 Bed Rent | $945 | $1,000 |
| 3 Bed Rent | $1,800 | $1,770 |
| 4 Bed Rent | $2,200 | $2,160 |
% 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 50. This is a decrease of -16.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $305,000 | 0.0% |
Listing Count | 94 | -26.0% |
| Listings as % of Homes | 0.8% | -26.0% |
Days on Market | 50 | -16.0% |
Demographics — Minot, ND
As of the latest ACS Survey released in 2023, Minot, ND has a population of 22,600, 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 22.3% of the population. The area has a moderately educated workforce, with 33.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,600 | 0.1% |
% Under 18 | 22.3% | 2.8% |
% Seniors | 12.5% | 14.7% |
% WFH | 5.6% | 69.7% |
% w/ College Degree | 33.9% | 2.4% |
As of the latest ACS Survey released in 2023, Minot, ND is a predominantly white area, with 79.0% of the population identifying as white. The white population has shrunk by 5.4% in the last 5 years. The second most common race or ethnicity in Minot, ND is hispanic, making up 9.4% of the population. Foreign-born residents account for 3.2% of the population in Minot, ND, and this percentage has decreased by 45.8% 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 | 79.0% | -5.4% |
% Black | 6.1% | 154.2% |
% Hispanic | 9.4% | 46.9% |
% Asian | 1.6% | 14.3% |
% Foreign Born | 3.2% | -45.8% |
Mortgage and Risk — Minot, ND
According to HUD data as of 2023, there were 504 mortgage originations in Minot, ND, of which 53.0% of loans were conventional mortgages. The average loan-to-value was 80.0%, with 56.0% 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 | 504 |
% Conventional Loans | 53.0% |
% Government Loans | 47.0% |
% Investor Loans | 0.0% |
% Second Loans | 1.0% |
% 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 | 313 |
Total Units Section 8 | 294 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 82.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $15 | $775 | $790 |
| 2 Bedroom | $75 | $945 | $1,020 |
| 3 Bedroom | -$370 | $1,800 | $1,430 |
| 4 Bedroom | -$490 | $2,200 | $1,710 |
Affordability — Minot, ND
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $262,000 |
| Median Household Income | $82,900 |