Historical data
Pick an indicator to see its long-run evolution.
Median home value
1990–2024Census / Zillow ZHVI, nominal dollars.
Home Prices
Home prices in North Dakota have risen steadily, driven by energy-sector demand in the Bakken region and growth in Fargo and Bismarck.
FHFA House Price Index
1975–2025FHFA all-transactions index, annual average of quarters. Source: FHFA via FRED (NDSTHPI).
| Indicator | North Dakota | U.S. |
|---|---|---|
| Median home value (USD) | 283000 | 355000 |
- •Williston home prices spiked and later cooled with oil price cycles.
- •North Dakota's effective property tax rate of 0.98% is close to the national average.
Median Home Value
North Dakota's median home value is $283,000, well below the U.S. median of $355,000, reflecting the state's affordable, energy-driven housing market.
Median value of owner-occupied homes
2008–2024Census American Community Survey 1-year estimates, B25077 (2020 not released).
| Indicator | North Dakota | U.S. |
|---|---|---|
| Median home value (USD) | 283000 | 355000 |
- •North Dakota home values are roughly 20% below the national median.
- •Bakken oil boom towns like Williston saw sharp home value swings in the last decade.
Rent Prices
North Dakota's median rent of $925 is significantly lower than the U.S. median of $1,406, making it one of the more affordable rental markets.
Rent of primary residence index (Midwest region)
2006–2025BLS CPI-U, Midwest region, annual average (CUUR0200SEHA).
| Indicator | North Dakota | U.S. |
|---|---|---|
| Median rent (USD) | 925 | 1406 |
- •North Dakota's rent is about 34% below the national median.
- •Vacancy rates near 12.8% are among the highest in the country, easing rent pressure.
Housing Inventory
North Dakota's housing stock totals roughly 385,000 units, supporting a population of about 796,000 across urban centers and rural counties.
Total housing units
2008–2024Census American Community Survey 1-year estimates, B25001 (2020 not released).
Vacant housing units
2008–2024Census American Community Survey 1-year estimates, B25002 (2020 not released).
| Indicator | North Dakota | U.S. |
|---|---|---|
| Vacancy rate (%) | 12.8 | 8 |
- •North Dakota's housing stock grew fastest in Fargo, Bismarck, and Williston.
- •Rural counties account for a large share of vacant, seasonal, or aging housing units.
Building Permits
North Dakota issues around 4,900 residential building permits annually, reflecting steady but modest construction activity statewide.
New private housing units authorized
1988–2025Census Building Permits Survey, sum of 12 months (FRED NDBPPRIV).
| Indicator | North Dakota | U.S. |
|---|---|---|
| Annual building permits | 4900 | 8300 |
- •Permit activity peaked during the height of Bakken oil development.
- •Fargo and Bismarck account for the largest shares of new residential permits.
Homeownership Rate
North Dakota's homeownership rate of 63.8% trails the national rate of 65.7%, though it remains solid amid a mobile, energy-driven workforce.
Homeownership rate (CPS/HVS)
1984–2025Census Housing Vacancy Survey, annual (FRED NDHOWN).
| Indicator | North Dakota | U.S. |
|---|---|---|
| Homeownership rate (%) | 63.8 | 65.7 |
- •North Dakota has about 330,000 households statewide.
- •Transient oilfield workers in the Bakken region skew local homeownership rates lower.
Housing Affordability
Low home values and rents relative to income make North Dakota one of the more affordable states for housing, despite regional energy-boom price spikes.
Housing price level vs U.S. (RPP rents)
2008–2024BEA Regional Price Parities, housing services (SARPP line 3).
| Indicator | North Dakota | U.S. |
|---|---|---|
| Housing price level vs U.S. (RPP rents)2024, BEA Regional Price Parities | 71.4 | 100 |
- •North Dakota's housing cost index of 92 is below the national baseline of 100.
- •Energy-boom towns occasionally see affordability squeeze despite the statewide average.
Vacancy Rate
North Dakota's housing vacancy rate of 12.8% is notably higher than the national average, a legacy of overbuilding during the oil boom.
Rental vacancy rate
1986–2025Census Housing Vacancy Survey, annual (FRED NDRVAC).
Homeowner vacancy rate
1986–2025Census Housing Vacancy Survey, annual (FRED NDHVAC).
| Indicator | North Dakota | U.S. |
|---|---|---|
| Vacancy rate (%) | 12.8 | 8 |
- •Boom towns like Williston built rapidly during peak oil production, leaving excess units later.
- •High vacancy helps keep rents affordable statewide.