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North Dakota Real Estate Market Trends 2026

270000

Median Price
Vacancy Rate %

8.5

Population

783926

Population Growth %

0.5

Home Price YoY % Change

2

Average Cap Rate %

7.5

Rent Yoy % Growth

1.5

Median Rent

750

Market Overview

North Dakota's real estate market in 2026 features a median home price of $270,000, reflecting a +2% year-over-year change. The rental market shows stabilizing rents with a median one-bedroom at $750/month and two-bedroom at $821/month (+1.5% YoY). With a population of 0.8M that is steadily growing, North Dakota represents a affordable market with limited rental demand. The vacancy rate of 8.5% is above the national average (national: 7.2%). Top investment cities include Fargo, Bismarck, Grand Forks, Minot, West Fargo. North Dakota is considered landlord-friendly in terms of rental regulations.

Top Investment Cities

Fargo, Bismarck, Grand Forks, Minot, West Fargo

Investment Outlook

North Dakota offers compelling investment opportunities with an average cap rate of 7.5%. The affordable entry points combined with limited rental demand create favorable cash flow potential for buy-and-hold investors. While population growth is modest, the affordable price-to-rent ratio supports strong yields. Focus on Fargo, Bismarck, Grand Forks for the best risk-adjusted returns.

Key Takeaways for 2026

Median home price: $270,000 (+2% YoY)
Average rent: $750-$821/mo
Cap rate: 7.5%
Vacancy: 8.5%
Population growth: +0.5%
Demand: Low
Regulation: Landlord-Friendly

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