Home Values in Grand Forks, North Dakota — 2026 Market Report
Updated March 2026 | Balanced Market | +3.4% YoY
The median home value in Grand Forks, North Dakota is $245,000 as of March 2026, which is below the national median of $400,000. Home values in Grand Forks have increased by 3.4% over the past year and 18.2% over the last five years. With a population of 56,588 and a median household income of $48,250, the price-to-income ratio stands at 5.1x, making Grand Forks affordable for the average household.
Grand Forks Housing Market Conditions
| Metric | Grand Forks | National Avg |
|---|---|---|
| Median Home Value | $245,000 | $400,000 |
| YoY Appreciation | +3.4% | +3.8% |
| 5-Year Appreciation | +18.2% | +22.4% |
| Price per Sq Ft | $93 | $222 |
| Days on Market | 54 days | 45 days |
| Months of Supply | 4.5 | 3.5 |
| List-to-Sale Ratio | 97.5% | 98.5% |
| Monthly Homes Sold | 35 | — |
| Foreclosure Rate | 0.63% | 0.3% |
Home Value Trends in Grand Forks
A homeowner who purchased at the median price of $207,276 five years ago in Grand Forks would have gained approximately $37,724 in equity, representing a 18.2% return on investment. Over the past year alone, the typical homeowner gained $8,056 in home equity.
Affordability in Grand Forks, ND
With a median household income of $48,250 and a median home price of $245,000, the price-to-income ratio in Grand Forks is 5.1x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $1,557 compared to estimated monthly ownership costs of $1,364 gives a rent-vs-buy ratio of 0.88. In Grand Forks, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Grand Forks
The effective property tax rate in North Dakota is 0.98%. On a home valued at $245,000, the estimated annual property tax bill is $2,401, or approximately $200/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Grand Forks is 88.5 (100 = national average), indicating living costs are below the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Grand Forks, ND?
The median home value in Grand Forks, North Dakota is $245,000 as of March 2026. Home values have changed +3.4% over the past year, with a 5-year appreciation of 18.2%.
Is Grand Forks a buyer's or seller's market?
Grand Forks is currently a balanced market with 4.5 months of housing supply. Homes spend an average of 54 days on market, and the list-to-sale price ratio is 97.5%. Supply and demand are relatively balanced.
Are home values going up in Grand Forks?
Yes, home values in Grand Forks have increased by 3.4% over the past year. The 5-year appreciation rate is 18.2%, meaning a home worth $207,276 five years ago is now worth $245,000.
Is it better to rent or buy in Grand Forks?
The average monthly rent in Grand Forks is $1,557, while estimated monthly homeownership costs are approximately $1,364. The price-to-rent ratio is 13.1. Based on current conditions, buying may be more cost-effective than renting in this market.
Home Values in Other North Dakota Cities
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Disclaimer: Home value data for Grand Forks, North Dakota is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.