Horace, ND—58051
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 $402,000, with a year-over-year change of 3.1%. This indicates that home prices in Horace, ND are increasing. According to Zillow, the 1-year price projection is 0.7%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $402,000 | 3.1% |
| Single Family | $403,000 | 3.9% |
| 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 $560, with a year-over-year rent change of -13.8%. Per bedroom, the median rent as of July '25 in Horace, ND is 2-bedrooms: $560. The most common rental property sizes in Horace, ND are 3-bedroom and 1-bedroom, accounting for 30.4% and 27.2% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $560 | $560 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $560 | $560 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% 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 47. This is a decrease of -38.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $506,000 | 27.0% |
Listing Count | 13 | 35.0% |
| Listings as % of Homes | 0.3% | 35.0% |
Days on Market | 47 | -38.0% |
Demographics — Horace, ND
As of the latest ACS Survey released in 2023, Horace, ND has a population of 1,650, which has decreased by -10.6% over the past 5 years. Horace, ND is a popular place for families, as children make up 33.0% of the population. The area has a moderately educated workforce, with 43.6% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 12.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,650 | -10.6% |
% Under 18 | 33.0% | 7.1% |
% Seniors | 14.8% | 117.6% |
% WFH | 12.8% | 19.6% |
% w/ College Degree | 43.6% | 1.6% |
As of the latest ACS Survey released in 2023, Horace, ND is a predominantly white area, with 94.9% of the population identifying as white. The white population has shrunk by 3.1% in the last 5 years. The second most common race or ethnicity in Horace, ND is hispanic, making up 1.7% of the population. Foreign-born residents account for 0.0% of the population in Horace, ND, and this percentage has decreased by 100.0% 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 | 94.9% | -3.1% |
% Black | 0.0% | -100.0% |
% Hispanic | 1.7% | 750.0% |
% Asian | 0.0% | N/A |
% Foreign Born | 0.0% | -100.0% |
Mortgage and Risk — Horace, ND
According to HUD data as of 2023, there were 79 mortgage originations in Horace, ND, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 52.0%, with 13.0% above 90% LTV (elevated). This implies medium mortgage risk in Horace, ND. Investor activity is low, as 0.0% of loans were by investors. 18.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 79 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 18.0% |
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 | 13 |
Total Units Section 8 | 1 |
% Rentals under Section 8 | 1.1% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $760 |
| 2 Bedroom | $370 | $560 | $930 |
| 3 Bedroom | N/A | N/A | $1,310 |
| 4 Bedroom | N/A | N/A | $1,580 |
Affordability — Horace, ND
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $402,000 |
| Median Household Income | $106,000 |