Grand Forks, ND—58203
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Grand Forks, ND
Home Price Trends — Grand Forks, ND
As of Oct '25, the median home price in Grand Forks, ND is $229,000, with a year-over-year change of 7.3%. This indicates that home prices in Grand Forks, ND are increasing. 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 | $229,000 | 7.3% |
| Single Family | $231,000 | 7.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $131,000 | 4.0% |
2 Bed | $179,000 | 9.8% |
3 Bed | $219,000 | 8.4% |
4 Bed | $259,000 | 6.6% |
| 5 Bed | $276,000 | 6.2% |
% of Housing Stock
Rental Trends — Grand Forks, ND
As of July '25, Rentcast reports the average rent in Grand Forks, ND is $1,120, with a year-over-year rent change of 10.9%. Per bedroom, the median rent as of July '25 in Grand Forks, ND is studios: $630, 1-bedrooms: $777, 2-bedrooms: $1,090, 3-bedrooms: $1,580, 4-bedrooms: $1,840. The most common rental property sizes in Grand Forks, ND are 2-bedroom and 1-bedroom, accounting for 34.9% and 24.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $960 | $1,120 |
| Studio Rent | $630 | $630 |
| 1 Bed Rent | $725 | $777 |
| 2 Bed Rent | $970 | $1,090 |
| 3 Bed Rent | $1,500 | $1,580 |
| 4 Bed Rent | $1,600 | $1,840 |
% of Rental Stock
Property Listings — Grand Forks, ND
As of Oct '25, Realtor.com reports that the median days on market for a home in Grand Forks, ND is 37. This is a decrease of -17.0% 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 | $255,000 | 6.0% |
Listing Count | 27 | -19.0% |
| Listings as % of Homes | 0.3% | -19.0% |
Days on Market | 37 | -17.0% |
Demographics — Grand Forks, ND
As of the latest ACS Survey released in 2023, Grand Forks, ND has a population of 16,300, which has decreased by -4.6% over the past 5 years. Grand Forks, ND is a moderately popular place for families, as children make up 18.8% of the population. The area has a moderately educated workforce, with 35.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 16,300 | -4.6% |
% Under 18 | 18.8% | 11.2% |
% Seniors | 10.2% | 41.7% |
% WFH | 7.0% | 112.1% |
% w/ College Degree | 35.9% | 22.9% |
As of the latest ACS Survey released in 2023, Grand Forks, ND is a predominantly white area, with 78.5% of the population identifying as white. The white population has grown by 1.7% in the last 5 years. The second most common race or ethnicity in Grand Forks, ND is hispanic, making up 6.0% of the population. Foreign-born residents account for 9.7% of the population in Grand Forks, ND, and this percentage has increased by 34.7% 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 | 78.5% | 1.7% |
% Black | 3.6% | -16.3% |
% Hispanic | 6.0% | 5.3% |
% Asian | 5.6% | 27.3% |
% Foreign Born | 9.7% | 34.7% |
Mortgage and Risk — Grand Forks, ND
According to HUD data as of 2023, there were 188 mortgage originations in Grand Forks, ND, of which 78.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 32.0% above 90% LTV (very high). This implies large mortgage risk in Grand Forks, ND. Investor activity is low, as 11.0% 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 | 188 |
% Conventional Loans | 78.0% |
% Government Loans | 22.0% |
% Investor Loans | 11.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Grand Forks, ND
As of 2024, the percent of homes in Grand Forks, ND under the Section 8 program is 14.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Grand Forks, ND, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 632 |
Total Units Section 8 | 614 |
% Rentals under Section 8 | 14.6% |
% Occupied Section 8 | 80.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $15 | $725 | $740 |
| 2 Bedroom | -$40 | $970 | $930 |
| 3 Bedroom | -$190 | $1,500 | $1,310 |
| 4 Bedroom | -$20 | $1,600 | $1,580 |
Affordability — Grand Forks, ND
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.5 |
| Median Home Price | $229,000 |
| Median Household Income | $57,900 |