Velva, ND—58790
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Velva, ND
As of Oct '25, the median home price in Velva, ND is $210,000, with a year-over-year change of -1.7%. This indicates that home prices in Velva, ND are decreasing. According to Zillow, the 1-year price projection is -0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $210,000 | -1.7% |
| Single Family | $210,000 | -1.4% |
| 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 — Velva, ND
As of July '25, Rentcast reports the average rent in Velva, ND is $1,150, with a year-over-year rent change of -4.2%. Per bedroom, the median rent as of July '25 in Velva, ND is 3-bedrooms: $1,150. The most common rental property sizes in Velva, ND are 2-bedroom and studio, accounting for 55.0% and 18.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,000 | $1,150 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | N/A | N/A |
| 3 Bed Rent | $1,000 | $1,150 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Velva, ND
As of Oct '25, Realtor.com reports that the median days on market for a home in Velva, ND is 92. This is a increase of 135.0% 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 29.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $265,000 | 134.0% |
Listing Count | 7 | 140.0% |
| Listings as % of Homes | 0.5% | 140.0% |
Days on Market | 92 | 135.0% |
Demographics — Velva, ND
As of the latest ACS Survey released in 2023, Velva, ND has a population of 1,500, which has decreased by -15.3% over the past 5 years. Velva, ND is a popular place for families, as children make up 25.9% of the population. The area has a poorly educated workforce, with 24.6% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 1,500 | -15.3% |
% Under 18 | 25.9% | -3.4% |
% Seniors | 21.6% | 26.3% |
% WFH | 8.1% | 252.2% |
% w/ College Degree | 24.6% | 13.9% |
As of the latest ACS Survey released in 2023, Velva, ND is a predominantly white area, with 96.1% of the population identifying as white. The white population has grown by 1.5% in the last 5 years. The second most common race or ethnicity in Velva, ND is hispanic, making up 1.2% of the population. Foreign-born residents account for 0.7% of the population in Velva, ND, and this percentage has increased by 250.0% 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 | 96.1% | 1.5% |
% Black | 0.0% | -100.0% |
% Hispanic | 1.2% | -40.0% |
% Asian | 0.0% | -100.0% |
% Foreign Born | 0.7% | 250.0% |
Mortgage and Risk — Velva, ND
According to HUD data as of 2023, there were 22 mortgage originations in Velva, ND, of which 55.0% of loans were conventional mortgages. The average loan-to-value was 78.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Velva, ND. Investor activity is low, as 0.0% of loans were by investors. 14.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 22 |
% Conventional Loans | 55.0% |
% Government Loans | 45.0% |
% Investor Loans | 0.0% |
% Second Loans | 5.0% |
% Cash Out Refinance | 14.0% |
Loan Activity
Rentals and Section 8 — Velva, ND
Velva, ND lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 15 |
Total Units Section 8 | 15 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $710 |
| 2 Bedroom | N/A | N/A | $930 |
| 3 Bedroom | $250 | $1,000 | $1,250 |
| 4 Bedroom | N/A | N/A | $1,560 |
Affordability — Velva, ND
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $210,000 |
| Median Household Income | $81,600 |