Current home values in North Dakota

Home values have been rising throughout North Dakota and are up 13.0% from a year ago.

Statewide, the median value for a single-family home — meaning half are worth more, half are worth less — is currently $271,374, Realtor says.

Real estate agents say would-be homebuyers in some parts of the country are starting to overcome the obstacles caused by COVID-19 and are going virtual house hunting to take advantage of today's bargain mortgage rates and the low monthly house payments they provide.

Here's how that works in North Dakota: Let's say you want to buy a mid-priced home using a 30-year fixed-rate mortgage at the current average interest, which is a low 3.33%, according to mortgage company Freddie Mac.

A 30-year mortgage for a $271,374 home at 3.33% would give a typical North Dakota homebuyer a monthly payment of $954, assuming a 20% down payment.

How the North Dakota housing market stacks up

Father and kids in a hay field
Fam Veld / Shutterstock
North Dakotan families can take a trip out to the hay fields for an afternoon

The state's median home value is higher than the U.S. median of $248,948, which is up 5.1% from a year ago.

While the coronavirus is expected to continue hanging over the U.S. economy like a dark cloud, Zillow forecasts that U.S. home values will rise 5.1% over the next year, while in North Dakota, they're predicted to rise 3.8%.

Homes right now are going on the market in North Dakota at a median price of $111 per square foot, versus $134 per square foot nationwide.

Are you looking to buy? Take a look at today's best mortgage rates where you live.

North Dakota home prices over the last 10 years

Year Avg. Price
2020* $237,118
2019 $209,875
2018 $206,983
2017 $206,050
2016 $199,225
2015 $189,942
2014 $176,258
2013 $163,892
2012 $148,433
2011 $144,550
2010 $139,217
2009 $136,175

*2020 price average through March 31, 2020.

How much for an average-sized home?

Here's what a 2,500-square-foot home in North Dakota is worth now, and how that's changed over the last decade, based on the Zillow Home Value Index.

Year Avg. Price
2020* $277,591
2019 $457,500
2018 $452,500
2017 $452,500
2016 $447,500
2015 $432,500
2014 $397,500
2013 $367,500
2012 $332,500
2011 $327,500
2010 $315,000
2009 $310,000

*2020 price average through March 31, 2020.

About the Author

Doug Whiteman

Doug Whiteman

Editor-in-Chief

Doug Whiteman is the editor-in-chief of MoneyWise. He has been quoted by The Wall Street Journal, USA Today and CNBC.com and has been interviewed on Fox Business, CBS Radio and the syndicated TV show "First Business."