New Salem, ND—58563
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — New Salem, ND
As of Oct '25, the median home price in New Salem, ND is $225,000, with a year-over-year change of 5.1%. This indicates that home prices in New Salem, ND are increasing. According to Zillow, the 1-year price projection is 1.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $225,000 | 5.1% |
| Single Family | $224,000 | 5.2% |
| 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 — New Salem, ND
As of July '25, Rentcast reports the average rent in New Salem, ND is $650, with a year-over-year rent change of 18.2%. Per bedroom, the median rent as of July '25 in New Salem, ND is 1-bedrooms: $650. The most common rental property sizes in New Salem, ND are 2-bedroom and 4-bedroom, accounting for 74.0% and 9.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $650 | $650 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $650 | $650 |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — New Salem, ND
As of Oct '25, Realtor.com reports that the median days on market for a home in New Salem, ND is 21. This is a decrease of -24.0% 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 0.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $252,000 | 22.0% |
Listing Count | 8 | -26.0% |
| Listings as % of Homes | 0.4% | -26.0% |
Days on Market | 21 | -24.0% |
Demographics — New Salem, ND
As of the latest ACS Survey released in 2023, New Salem, ND has a population of 1,850, which has decreased by -15.6% over the past 5 years. New Salem, ND is a moderately popular place for families, as children make up 17.6% of the population. The area has a poorly educated workforce, with 18.1% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,850 | -15.6% |
% Under 18 | 17.6% | -19.6% |
% Seniors | 24.2% | 0.4% |
% WFH | 14.0% | 14.8% |
% w/ College Degree | 18.1% | -18.1% |
As of the latest ACS Survey released in 2023, New Salem, ND is a predominantly white area, with 97.4% of the population identifying as white. The white population has grown by 5.3% in the last 5 years. The second most common race or ethnicity in New Salem, ND is hispanic, making up 0.1% of the population. Foreign-born residents account for 0.6% of the population in New Salem, ND, and this percentage has decreased by 75.0% 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 | 97.4% | 5.3% |
% Black | 0.0% | N/A |
% Hispanic | 0.1% | -97.3% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.6% | -75.0% |
Mortgage and Risk — New Salem, ND
According to HUD data as of 2023, there were 44 mortgage originations in New Salem, ND, of which 66.0% of loans were conventional mortgages. The average loan-to-value was 76.0%, with 48.0% above 90% LTV (very high). This implies large mortgage risk in New Salem, ND. Investor activity is low, as 2.0% of loans were by investors. 5.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 44 |
% Conventional Loans | 66.0% |
% Government Loans | 34.0% |
% Investor Loans | 2.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 5.0% |
Loan Activity
Rentals and Section 8 — New Salem, ND
New Salem, ND lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 8 |
Total Units Section 8 | 8 |
% Rentals under Section 8 | 7.0% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $180 | $650 | $830 |
| 2 Bedroom | N/A | N/A | $930 |
| 3 Bedroom | N/A | N/A | $1,300 |
| 4 Bedroom | N/A | N/A | $1,560 |
Affordability — New Salem, ND
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.9 |
| Median Home Price | $225,000 |
| Median Household Income | $76,200 |