Housing Report for Grand Forks

In Grand Forks, the real estate market was made up of 43,057 homes in the year 2005. This MSA has gone through a medium level of growth in the number housing units, adding all together 1,529 residential units since 2001, or 3.7 percent.

In the State of North Dakota, Grand Forks places 3 of the 3 metro areas in terms of growth of new housing structures between 2001 and 2005. The MSA stands 250 of 361, in terms of residential real estate percentage change compared to other United States metro areas.

Grand Forks recorded a median home value in 2005 of $102,200, published by the American Community Survey. This value is greater than the North Dakota 2005 median home value of $88,600 and less than median owner-occupied dwelling value of $167,500 across the United States during the same year.

The residential real estate values in Grand Forks, North Dakota have experienced moderate increases since their reported values in 2000. The values have increased by $15,200, or 17.5 percent, from 2000 when they had reported median values of $87,000.

There seems to be a large amount of real estate that is affordable in Grand Forks, North Dakota. In 2005, 62.7 percent of housing was valued under $125k.

Grand Forks has a small, but present percentage of high-priced residential real estate. For the year 2005, the American Community Survey reports that 0.8 percent of the homes were valued over $500,000.

Data Source: U.S. Census Bureau

Employment Report for Grand Forks, ND, North Dakota -- Annual 2005 Industry Summary

Arts, entertainment, and recreation is the industry that has grown the most in terms of employment from 2001-2005 in Grand Forks, ND, increasing in size by 50.9 percent. This is greater than the national sector change of 4.7 percent. The State of North Dakota experienced a change in employment in the sector of 11.9 percent, in the recent period of 2001-2005.

In Grand Forks, ND, Health care and social assistance, Retail Trade, and the Accommodation and food services sectors, in terms of total employment, are the largest. Health care and social assistance produces the largest number of jobs in the area accounting for 20 percent of all the jobs in the Metropolitain Area. This makes up 7,821 employees. The Retail Trade and Accommodation and food services sectors account for 18.9 and 12.5 percent of total employment, respectively.

A top paying industry in Grand Forks, ND is the utilities industry with an average annual wage of $66,531. From the year 2001, the annual average pay of the industry has grown by 13.6 percent or $7,985. The State of North Dakota holds the same pattern in the utilities sector, placing at the top of industries in term of the average annual pay of 2004.

In Grand Forks, ND, Health care and social assistance, Utilities and Retail Trade industries, in terms of United States location quotient, are the most dominant in the region. The Health care and social assistance industry has a US LQ in the region of 1.54. The percent of employment in the Health care and social assistance sector is 1.54 times more than the average percent in the United States, revealing signs that Grand Forks, ND may be an exporter of products or services of Health care and social assistance.

Manufacturing has the largest businesses in Grand Forks, ND Metro Area. The industry averages 38 jobs per place of business. This is less than the US industry average of 39 and greater than the North Dakota establishments size average of 31 for the Manufacturing industry.







Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).