Grand Forks, ND 58203 Real Estate Market Report

Market Overview

This analysis is based on a sample of properties from this ZIP code (up to 200 sold properties and up to 100 active properties). The median prices below are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Market Metrics

The property counts shown above represent only the properties analyzed in this report sample, not the total inventory for this ZIP code. Median prices are calculated from all available properties in the sample, while trend analysis uses properties from the selected analysis window.

Rental Market

Note: The relationship between property values and rental rates reflects different market dynamics. Higher-priced properties may have lower rental yields due to factors such as luxury market positioning, owner-occupancy preferences, or long-term appreciation strategies rather than immediate rental income maximization.

Property Taxes

Liquidity & Velocity

Market Trends & Context

Note: Interest rate comparisons provide market context. The existing "Interest Rate Pressure" metric above shows the qualitative market impact.

Key Findings

1. The primary market indicator is the median sold price of $220,000, which signals a representative recent sale level for SFR and condominium properties in ZIP 58203; given the neutral market temperature, this suggests pricing is stable rather than rapidly shifting.
2. Pricing per unit area is anchored by a median price per square foot of $184, which aligns with the steady sales environment and may limit aggressive seller markups; combined with the median sold price, this points to orderly pricing across typical property sizes.
3. Rents are moving higher with a median market rent of $996 and a up rent year-over-year trend, indicating rental demand support that may underpin investor interest and steady owner-occupier replacement demand.
4. Interest-rate context is a headwind to affordability: the market shows moderate interest rate pressure and the report notes that current 30-year fixed mortgage rates in Grand Forks are approximately 6.49%, which is 0.5% higher than the 5.99% early-2026 average; combined with the neutral market temperature, expect steady but cautious buyer activity and moderate transaction velocity.

Notable Properties

The following 4 properties represent notable market examples and recent transactions that illustrate key market dynamics. These are illustrative examples selected for their significance (top sales, market benchmarks, quick sales) and are not the basis for the statistical calculations shown above.