North Dakota housing market
The typical home in North Dakota is worth $290,657, up 5.1% from a year ago.
Builders got permits for 1,575 homes from January to August 2026, down 12.9% on the same months of 2025.
North Dakota gained a net 512 residents from elsewhere in the U.S. in the year to July 2025.
The FHFA HPI® (all-transactions) for North Dakota is up 4.7% over the year to Q2 2026. Unemployment was 1.8% in September 2026, down 0.3 points from a year earlier. Employers had 452K payroll jobs in September 2026, up 0.3% from a year earlier.
State · Sep 2026
The latest numbers
Typical home value
$290,657
up 5.1% past 12 mo
Median sale price
$316,600
As of Aug 2026
Typical rent
—
Not published for this level
Homes for sale
2,630
Active listings
Days to pending
24
Median, listing to contract
Permits YTD
1,575
down 12.9% vs same months last year
Population growth
+0.8%
Past year · pop. 799K
Net domestic migration
+512
Past year, net moves from elsewhere in the US
FHFA home prices
+4.7%
Past year · Q2 2026
FHFA, past 5 years
+35.5%
Q2 2021 to Q2 2026
Unemployment rate
1.8%
down 0.3 pts vs Sep 2025
Job growth
+0.3%
Past year · 452K jobs in Sep 2026
Typical home value, 24 months
up 8.8%Typical home value went from $267,168 in Oct 2024 to $290,657 in Sep 2026, a change of +8.8%.
Source: Data Provided by Zillow Group; U.S. Census Bureau, Building Permits Survey; U.S. Census Bureau, Population Estimates · As of Sep 2026
Source: FHFA House Price Index® (All-Transactions, not seasonally adjusted); U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics; U.S. Bureau of Labor Statistics, Current Employment Statistics
BLS figures are not seasonally adjusted; retrieved from BLS.gov Oct 27, 2026. This product uses FHFA data but is neither endorsed nor certified by FHFA. BLS.gov cannot vouch for the data or analyses derived from these data after the data have been retrieved from BLS.gov.
State · Yearly figures
Renters and movers
Fair Market Rent, 2BR
—
HUD sets these for metro areas and counties, not states
Rental vacancy rate
3.2%
down 4.4 pts vs 2023
2024 survey · ±0.9 pts
Net movers
−757
People on tax returns filed 2022–23
Income moving in
−$144M
Movers' 2022 adjusted gross income, net
- Rental vacancy.
- Rentals that are empty and for rent, as a share of all rentals, from the Census Bureau's 2024 American Community Survey. A survey estimate, shown with its 90% margin of error; a change smaller than the combined margins is marked not significant.
- Movers.
- People on tax returns (filers and dependents) who moved in minus those who moved out between the 2022 and 2023 filing seasons, moves within the U.S. only. Income is the movers' adjusted gross income for 2022, from returns filed in 2023. The Census estimate of net domestic migration above covers a different, more recent year.
Source: U.S. Census Bureau, "Tenure" (B25003) and "Vacancy Status" (B25004), American Community Survey 1-Year Estimates; IRS Statistics of Income, U.S. Population Migration Data
Census files accessed Oct 27, 2026. Rental vacancy rates, their margins of error, year-over-year changes and significance tests, and per-resident figures are calculated by Fidelis First from Census Bureau data; the Census Bureau is the source of the original data only. Fidelis First is not affiliated with or endorsed by the Internal Revenue Service.
How North Dakota ranks
Each measure next to the national figure, and where North Dakota places among the 51 states and DC.
| Measure | North Dakota | U.S. | Rank among the 51 states and DC |
|---|---|---|---|
| Typical home valueZillow ZHVI | $290,657 | $366,157 | 36th of 51 |
| Home value changePast 12 months | +5.1% | +1.2% | 5th of 51 |
| Rental vacancy rateCensus ACS; tightest ranks first | 3.2% | 5.7% | 2nd of 51 |
| Days to pendingMedian; fastest ranks first | 24 days | 27 days | 21st of 51 |
| Permits per 1,000 residentsHomes authorized, year to date | 2.0 | 2.8 | 35th of 51 |
| Permit changeSame months a year earlier | −12.9% | +0.1% | 46th of 51 |
| Population growthPast year | +0.8% | +0.5% | 14th of 51 |
| Net domestic migrationPer 1,000 residents, past year | +0.6 | — | 29th of 51 |
| Income moving inNet per resident; Fidelis First calculation from IRS and Census data | −$180 | — (Not applicable to the U.S.) | 42nd of 51 |
| FHFA home price changePast year, FHFA HPI® | +4.7% | +3.0% | 10th of 51 |
| FHFA, past 5 yearsFive-year change, FHFA HPI® | +35.5% | +41.3% | 39th of 51 |
| Unemployment rateNot seasonally adjusted; lowest ranks first | 1.8% | 4.0% | 2nd of 51 |
| Job growthNonfarm payroll jobs, past 12 months | +0.3% | +0.3% | 34th of 51 |
Source: Data Provided by Zillow Group; U.S. Census Bureau, Building Permits Survey; U.S. Census Bureau, Population Estimates · As of Sep 2026
Source: FHFA House Price Index® (All-Transactions, not seasonally adjusted); U.S. Bureau of Labor Statistics, Local Area Unemployment Statistics; U.S. Bureau of Labor Statistics, Current Population Survey; U.S. Bureau of Labor Statistics, Current Employment Statistics
FHFA figures are for Q2 2026. BLS unemployment is for Sep 2026 and jobs for Sep 2026, not seasonally adjusted; the U.S. figures beside them are for the same months. BLS data retrieved from BLS.gov Oct 27, 2026. This product uses FHFA data but is neither endorsed nor certified by FHFA. BLS.gov cannot vouch for the data or analyses derived from these data after the data have been retrieved from BLS.gov.
Source: U.S. Census Bureau, "Tenure" (B25003) and "Vacancy Status" (B25004), American Community Survey 1-Year Estimates; IRS Statistics of Income, U.S. Population Migration Data
Rental vacancy is from the 2024 American Community Survey. Income moving in is movers' net adjusted gross income for 2022 (IRS returns filed in 2023), divided by the latest Census population estimate (July 1, 2025); a Fidelis First calculation. Rental vacancy rates, their margins of error, year-over-year changes and significance tests, and per-resident figures are calculated by Fidelis First from Census Bureau data; the Census Bureau is the source of the original data only. Fidelis First is not affiliated with or endorsed by the Internal Revenue Service.
Large metro areas in North Dakota
None of the 100 largest U.S. metro areas reaches into North Dakota. The state figures above cover all of it.
Who's raising money in North Dakota
Real estate offerings filed with the SEC on Form D by issuers based in North Dakota, Sep 27 – Oct 26, 2026.
Filings4
Total offered$422M
- Enclave RIF - 2400 Trade DSTWest Fargo, ND · Filed Oct 21, 2026 · 506(c)$9.5M
- Sterling Real Estate TrustFargo, ND · Filed Oct 20, 2026 · 506(b)$12.5M
- Sterling Office & Industrial Properties, LLLPFargo, ND · Filed Oct 19, 2026 · 506(b)$200M
- Sterling Properties, LLLPFargo, ND · Filed Oct 19, 2026 · 506(b)$200M
Source: SEC EDGAR, Form D
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