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Sarah Mitchell
Compass Real Estate · North Dakota
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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North Dakota housing market
North Dakota housing market summary
The typical home in North Dakota is worth $292,293, up 5.2% over the past year. Homes that actually closed went for a median of $311,200 after 44 days on market. On supply, pricing discipline, and speed of sale, North Dakota currently reads as a seller's market at 2.9 months of supply. At today's 7.03% 30-year fixed rate, that typical home costs $1,560 a month in principal and interest with 20.0% down.
Sources: Zillow, August 2026 · Refreshes monthly · Redfin, through May 2026 · Freddie Mac via FRED, September 2026
North Dakota housing market at a glance
Every tile carries the provider and the month it was published
Typical home value
$292,293
+5.2% YoY · Zillow, August 2026
Median sale price
$311,200
Redfin, through May 2026
Typical asking rent
$1,263/mo
Median of 6 cities · Zillow, August 2026
30-yr fixed rate
7.03%
Freddie Mac via FRED, September 2026
Monthly P&I
$1,560
20.0% down, 30-yr fixed
Days on market
44
+2 days YoY
Active listings
1,135
-0.1% YoY
Median household income
$75,949
U.S. Census ACS, 2023
Typical home value is Zillow's ZHVI — the value of a typical home across the whole housing stock, not just the homes that sold. Median sale price is what actually closed. Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.
Where North Dakota home prices are heading
North Dakota's typical home value is $292,293, up 5.2% over 12 months. The two-year number matters more than the one-year number: it spans a full rate cycle rather than a single seasonal swing. Values are at or within a rounding error of their two-year high.
Against the national picture, North Dakota runs 20.7% below the U.S. typical home value of $368,697, and its 12-month move of +5.2% is outpacing the national pace of +1.2%.
What would have to change for North Dakota prices to fall. Prices fall when supply outruns demand for long enough that sellers compete on price rather than waiting. North Dakota is carrying 2.9 months of supply — below the four-month line, so inventory would have to roughly double before sellers lose pricing power. Active listings are -0.1% year over year and new listings +0.2%, which is close to flat. The other lever is the rate. At 7.03%, existing owners with cheaper mortgages have little reason to list, which is what has kept supply artificially low across most of the country. A sustained move down in rates unlocks those sellers and adds inventory; it also adds buyers. Which side moves first decides the direction.
Market trends
Statewide monthly series · Redfin, through May 2026 · No longer updating · Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.
What it costs to buy in North Dakota at today's rate
Down payment
$58,459
20.0% of value
Loan amount
$233,834
30-yr fixed
Monthly P&I
$1,560
at 7.03%
Income needed
$66,857
28.0% front-end ratio
A buyer purchasing the typical North Dakota home at $292,293 puts $58,459 down, finances $233,834, and pays $1,560 a month in principal and interest. Property taxes, homeowners insurance, HOA dues, and mortgage insurance sit on top of that and vary by county — budget for them separately rather than assuming the P&I figure is the payment.
Lenders typically want principal and interest under 28.0% of gross income, which puts the qualifying income for that purchase at roughly $66,857. North Dakota's median household earns $75,949 (Census ACS 2023) — a gap of $9,092 below what the median household brings in. Put differently, the median household would spend 24.6% of gross income on principal and interest alone — inside the ratio most lenders underwrite to.
The value-to-income ratio in North Dakota is 3.8x. Between roughly 3.5x and 5x, prices are ahead of local earnings but still within reach for higher-earning households. Model your own numbers in the affordability calculator or the mortgage calculator.
Figures are illustrative, not a quote or a pre-approval. Rate: Freddie Mac via FRED, September 2026 · Value: Zillow, August 2026 · Income: U.S. Census ACS, 2023
Buying in North Dakota in the next 12 months?
Tell us your timeline. We send the North Dakota market brief: the price ranges that are actually clearing, the cities where your budget goes furthest, and what to fix on your credit before you apply.
Rent or buy in North Dakota?
Zillow publishes its rent index per city rather than per state, so the honest statewide read is the median across the 6 largest North Dakota cities that carry it: $1,263 a month. Set against a typical home value of $292,293, that is a price-to-rent ratio of 19.3x.
Between 15x and 20x the two options are close enough that the tiebreaker is how long you stay, not the ratio itself. Principal and interest on the typical home runs $297 more per month than that typical rent — and that is before taxes, insurance, and the roughly 1% of value a year most owners spend on maintenance.
For a second read on the same question, the Census ACS puts median gross rent across all North Dakota households — every unit type, not just what is currently listed — at $934 a month (2023), with 63.4% of North Dakota households owning rather than renting. Asking rents lead the ACS figure because they reflect today's new leases rather than the whole stock of existing ones.
Run the rent-vs-buy calculator with your own holding period and down payment — the statewide ratio is a starting point, not an answer.
Supply: what is on the market in North Dakota
| Measure | Latest | Year earlier | Change |
|---|---|---|---|
| Active listings | 1,135 | 1,136 | -0.1% |
| New listings | 554 | 553 | +0.2% |
| Homes sold | 395 | 415 | -4.8% |
| Months of supply | 2.9 | 2.7 | +0.2 |
| Sale-to-list ratio | 98.3% | 98.0% | Below asking |
What these mean. Active listings is the shelf — everything a buyer could tour today. New listings is restock rate; when it falls faster than sales, the shelf empties. Months of supply is active inventory divided by homes sold per month: at the current sales pace, how many months it would take to sell every home currently listed. Under 4 months of supply tilts toward sellers, 4 to 5 months is the neutral band, and above 5 months tilts toward buyers — above 7 months is a glut. These are the same thresholds the market verdict on every city and ZIP page is scored against. Sale-to-list ratio is the discipline check — above 100% means homes are clearing over asking on average, below means sellers are conceding.
Redfin, through May 2026 · No longer updating — Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026. Zillow's inventory and new-listing counts are published per city and appear on the individual city pages.
Where North Dakota home values are moving fastest
12-month change in typical home value · Zillow, August 2026
Rising fastest
- 1.Spiritwood Lake+19.0%
- 2.Glen Ullin+16.1%
- 3.Ray+13.9%
- 4.Kenmare+11.3%
- 5.New Salem+8.3%
- 6.Fairmount+7.7%
- 7.Gladstone+7.6%
- 8.Richardton+7.2%
Falling
- 1.Hankinson-0.8%
- 2.Lidgerwood-0.5%
Computed from Zillow's typical home value for each city at August 2026 against the same month a year earlier, across the 82 largest North Dakota cities by population. Small markets swing hardest because a handful of transactions moves the index — read the city page before treating a large move as a trend.
The most and least expensive cities in North Dakota
Typical home value across the 82 largest cities · Zillow, August 2026
Most expensive
- 1.Colfax$408,978
- 2.Menoken$407,708
- 3.Spiritwood Lake$389,251
- 4.Bismarck$377,821
- 5.Williston$375,622
- 6.Epping$358,643
- 7.Walcott$353,939
- 8.Gladstone$349,641
- 9.Christine$349,537
- 10.Mandan$346,743
Most affordable
- 1.Drake$81,010
- 2.Lidgerwood$130,585
- 3.Towner$133,696
- 4.Glen Ullin$141,107
- 5.Fairmount$147,593
- 6.Hankinson$169,961
- 7.Wyndmere$194,602
- 8.Jamestown$212,121
- 9.Velva$218,925
- 10.Ray$222,496
The spread between Colfax and Drake is 5.0x — one reason a single statewide number is close to useless for a buyer with a fixed budget. Pick the city first, then the price band. Speed is a separate axis from price: New Salem was the quickest of these markets to clear at 1 days on market (Redfin, through May 2026).
How North Dakota compares
| Market | Typical value | 12-mo change | Median income | Value / income |
|---|---|---|---|---|
| North Dakota | $292,293 | +5.2% | $75,949 | 3.8x |
| United States | $368,697 | +1.2% | — | — |
| Minnesota | $350,752 | +2.5% | $87,556 | 4.0x |
| South Dakota | $321,574 | +2.5% | $72,421 | 4.4x |
| Montana | $471,746 | +2.0% | $69,922 | 6.7x |
The three states above are North Dakota's nearest land neighbours — the markets buyers most often price against when a move is still negotiable. North Dakota is the cheapest of this group on a typical-value basis, which is what makes it a destination rather than an origin for cross-state moves.
Values and 12-month changes: Zillow, August 2026 · Refreshes monthly. Income: U.S. Census ACS, 2023. ACS publishes household income per state, not for the nation on the same basis, so the U.S. row shows home value only.
North Dakota housing markets by city
82 cities tracked — the 60 largest by population shown
Bismarck
$377,821
Minot
$280,355
Williston
$375,622
Dickinson
$330,430
Mandan
$346,743
Jamestown
$212,121
Wahpeton
$239,219
Lincoln
$315,863
Surrey
$340,586
Tioga
$259,596
Burlington
$293,089
Kenmare
$247,328
Velva
$218,925
New Salem
$234,855
Hankinson
$169,961
Ray
$222,496
Richardton
$258,446
Hebron
Pop. 1K
Lidgerwood
$130,585
Glen Ullin
$141,107
Belfield
$253,617
Mohall
Pop. 1K
South Heart
$333,166
Wyndmere
$194,602
Center
Pop. 1K
Glenburn
Pop. 0K
Towner
$133,696
Trenton
Pop. 0K
Berthold
$332,903
Grenora
Pop. 0K
Fairmount
$147,593
Sawyer
Pop. 0K
Walcott
$353,939
Anamoose
Pop. 0K
Granville
Pop. 0K
Colfax
$408,978
Drake
$81,010
Medina
Pop. 0K
Gladstone
$349,641
Abercrombie
Pop. 0K
Kensal
Pop. 0K
Christine
$349,537
Sherwood
Pop. 0K
Flasher
Pop. 0K
Wing
Pop. 0K
Taylor
$290,783
Harmon
Pop. 0K
Apple Valley
Pop. 0K
Mooreton
$229,774
Almont
Pop. 0K
Carpio
Pop. 0K
Spiritwood Lake
$389,251
Upham
Pop. 0K
Logan
Pop. 0K
Des Lacs
Pop. 0K
Medora
Pop. 0K
Wildrose
Pop. 0K
Epping
$358,643
Ryder
Pop. 0K
Deering
Pop. 0K
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What to do next in North Dakota
If you are buying
- Set the payment before the price. Start from what you can carry monthly, then work backwards with the affordability calculator — the typical North Dakota home is $1,560/mo in P&I today.
- Pick the city, not the state. Values across North Dakota run from $81,010 in Drake to $408,978 in Colfax.
- Put two finalists head to head in the city comparison tool before you tour anything.
- Fix the credit file before you shop the rate. A better score moves the payment more than haggling over price does at 7.03%.
If you are selling
- Price against your city, not the statewide figure — the spread between North Dakota markets is wider than the year-over-year move in any of them.
- Read the supply table above. At 2.9 months of supply, you still set the terms — but only if the home is priced to the comps on day one.
- Watch days on market in your city, not the state. The statewide median was 44 days (Redfin, through May 2026); your city page carries its own.
- Time the listing against new-listing volume. New listings are +0.2% year over year — less competition than a year ago.
North Dakota housing market questions
What is the typical home value in North Dakota?
The typical home value in North Dakota is $292,293 (Zillow, August 2026). That is a +5.2% change over the past 12 months. The median price of homes that actually sold was $311,200 (Redfin, through May 2026); sale prices skew toward whatever segment is transacting, which is why they differ from the typical-value figure.
Are North Dakota home prices going up or down?
North Dakota home values are up 5.2% year over year (Zillow, August 2026). Values are at or near their highest reading in the past two years.
How much income do you need to buy a home in North Dakota?
At the current 30-year fixed rate of 7.03%, a $292,293 home with 20.0% down carries roughly $1,560 a month in principal and interest. Using the 28% front-end ratio most lenders underwrite to, that implies a household income of about $66,857 before taxes, insurance, HOA dues, or mortgage insurance are added. North Dakota's median household income is $75,949 (Census ACS, 2023), a gap of $9,092 below the median household. These figures are illustrative, not a quote or a pre-approval.
Is it cheaper to rent or buy in North Dakota?
Typical asking rent across the largest North Dakota cities Zillow publishes rent data for is $1,263 a month (median of 6 cities, Zillow, August 2026). Against a typical home value of $292,293, that is a price-to-rent ratio of 19.3x. Ratios under about 15x generally favour buying if you plan to stay put; above about 20x, renting and investing the difference tends to win over short horizons. Principal and interest alone runs $297 more than that typical rent each month, before taxes, insurance, and maintenance.
Which North Dakota cities are the most affordable?
Among the largest cities we track in North Dakota, the lowest typical home values are in Drake ($81,010), Lidgerwood ($130,585), Towner ($133,696), Glen Ullin ($141,107), Fairmount ($147,593). Values are Zillow's typical-home-value index for August 2026.
Which North Dakota cities are the most expensive?
The highest typical home values among the largest North Dakota cities are in Colfax ($408,978), Menoken ($407,708), Spiritwood Lake ($389,251), Bismarck ($377,821), Williston ($375,622). Price per square foot, inventory, and days on market for each are on the individual city pages.
Which North Dakota cities are appreciating the fastest?
Over the past 12 months the largest home-value gains among North Dakota cities we track were in Spiritwood Lake (+19.0%), Glen Ullin (+16.1%), Ray (+13.9%), Kenmare (+11.3%), New Salem (+8.3%). Fast appreciation usually reflects constrained supply, in-migration, or a small transaction base — check the individual city page before reading it as a trend.
How long do homes take to sell in North Dakota?
Homes in North Dakota spent a median of 44 days on market in the last month Redfin published (Redfin, through May 2026). That is 2 days slower than the same month a year earlier. The quickest market among the state's largest cities was New Salem at 1 days. Redfin stopped publishing public market trackers in June 2026; latest available period is May 2026.
How does North Dakota compare to neighboring states?
North Dakota's typical home value of $292,293 compares with Minnesota at $350,752, South Dakota at $321,574, Montana at $471,746. The U.S. typical home value is $368,697, putting North Dakota 20.7% below the national figure.
Is now a good time to buy in North Dakota?
That depends on your timeline, not the headline. The measurable inputs today: a 30-year fixed rate of 7.03%, 2.9 months of supply statewide (Redfin, through May 2026), active listings -0.1% year over year, and home values +5.2% over the past year. Buyers with a five-year-plus horizon are mostly exposed to the payment, not the price, so the rate you can qualify for matters more than the month you buy. Properties Incorporated is an independent data platform, not a brokerage or lender — this is information, not advice.
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Neighboring state markets
- Minnesota housing market — $350,752 typical value
- South Dakota housing market — $321,574 typical value
- Montana housing market — $471,746 typical value
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