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Home appreciation in North Dakota
North Dakota's FHFA HPI® all-transactions index changed +4.7% over the year to Q2 2026, versus +3.0% nationally, ranking 10th of 51 states and D.C. Below, compare its 9 3-digit ZIP regions and 4 metro areas.
- 1-year change
- +4.7%
- 5-year change
- +35.5%
- Since Q1 1995
- +293%
- State rank (1 year)
- 10th
U.S. +3.0%
39th of 51
U.S. +292%
of 51 states and D.C.
North Dakota vs the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- North Dakota: 392.9
- United States: 391.6
North Dakota appreciation by time window
| Window | ND | U.S. | Gap vs U.S. |
|---|---|---|---|
| 1 year | +4.7% | +3.0% | +1.6 pts |
| 3 years | +14.8% | +12.9% | +2.0 pts |
| 5 years | +35.5% | +41.3% | −5.8 pts |
| 10 years | +53.0% | +93.3% | −40.3 pts |
| Since Q1 1995 | +293% | +292% | +1.4 pts |
3-digit ZIP regions in North Dakota
Fastest-appreciating ZIP codes in North Dakota →Sorted by one-year change. 8 of 9 regions beat the national one-year change of +3.0%. Place labels name the largest community in each region.
| # | 3-digit ZIP region | 1 year | 5 years | 10 years | Since Q1 1995 |
|---|---|---|---|---|---|
| 1 | 587 · Minot, ND area | +6.8% | +33.9% | +41.3% | +298% |
| 2 | 585 · Bismarck, ND area | +6.4% | +35.2% | +49.4% | +319% |
| 3 | 582 · Grand Forks, ND area | +5.6% | +35.4% | +53.3% | +254% |
| 4 | 581 · Fargo, ND area | +4.6% | +35.1% | +57.9% | +255% |
| 5 | 583 · Devils Lake, ND area | +4.6% | +38.8% | +56.3% | +344% |
| 6 | 584 · Jamestown, ND area | +4.6% | +38.8% | +56.3% | +344% |
| 7 | 586 · Dickinson, ND area | +4.6% | +38.8% | +56.3% | +344% |
| 8 | 588 · Williston, ND area | +4.6% | +38.8% | +56.3% | +344% |
| 9 | 580 · West Fargo, ND area | +2.0% | +35.6% | +59.6% | +270% |
Metro areas in North Dakota
| Metro area | 1 year | 5 years | Since Q1 1995 |
|---|---|---|---|
| Grand Forks, ND-MN | +7.2% | +35.0% | +251% |
| Minot, ND | +6.8% | +33.9% | +298% |
| Bismarck, ND | +6.2% | +33.8% | +314% |
| Fargo, ND-MN | +4.2% | +35.6% | +265% |
Boom, bust, and recovery in North Dakota
North Dakota's index did not fall meaningfully after its Q4 2009 high. Today it sits +114% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| ND | Q4 2009 | — | No meaningful drop | — | +114% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, North Dakota's index has changed +77.5% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | ND after inflation | U.S. after inflation |
|---|---|---|---|
| 1 year | +3.9% | +0.8% | -0.8% |
| 3 years | +9.8% | +4.6% | +2.8% |
| 5 years | +24.0% | +9.3% | +13.9% |
| 10 years | +39.1% | +10.0% | +39.0% |
| Since Q1 1995 | +121% | +77.5% | +76.8% |
If you bought in North Dakota in…
An example $300,000 purchase grown at the statewide index rate to Q2 2026. Local markets within the state vary widely.
| Bought in | Index change | $300,000 then, at the state rate |
|---|---|---|
| Q2 1995 | +289% | $1,166,700 |
| Q2 2000 | +237% | $1,009,555 |
| Q2 2005 | +152% | $757,379 |
| Q2 2010 | +114% | $640,919 |
| Q2 2015 | +57.2% | $471,729 |
| Q2 2020 | +43.2% | $429,637 |
| Q2 2021 | +35.5% | $406,589 |
| Q2 2023 | +14.8% | $344,528 |
| Q2 2025 | +4.7% | $314,023 |
Frequently asked questions
- How much have home prices gone up in North Dakota?
- FHFA HPI® data for North Dakota shows the all-transactions index changed +4.7% over the year to Q2 2026, +35.5% over five years, +53.0% over ten years, and +293% since Q1 1995.
- Is North Dakota appreciating faster than the national average?
- Over the past year North Dakota's index moved +1.6 pts versus the U.S. (+3.0%), ranking 10th of 51 states and D.C. Over five years the gap is −5.8 pts.
- Which ZIP codes in North Dakota are appreciating fastest?
- Over the past year the strongest of 9 3-digit ZIP regions in North Dakota was ZIP3 587 (Minot, ND area) at +6.8%, and the weakest was ZIP3 580 (West Fargo, ND area) at +2.0%. 8 of 9 beat the national one-year change.