Real Estate Investing in Grand Forks, North Dakota (58201)
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Should you buy in 58201 (Grand Forks, ND)? Our answer, based on the numbers below.
Mixed — home prices are stretched relative to local incomes. Run the math on your specific situation.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Grand Forks, ND (58201)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 58201 Grand Forks
This part of Grand Forks County is not an easy win. The 58201 ZIP reflects softness in key indicators, and the playbook that works in cleaner markets often stalls here.
Rent of $1,159/mo on a $331K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 58201 sits below the stated 0.0% once reality is priced in.
On balance, 58201 offers a low basis, the region around Grand Forks has moved on in ways that the ZIP itself has not fully absorbed. The result is a discount with genuine reasons.
The 58201 ZIP's population of 42,003 has faced economic pressure over the last decade. That pressure shows up in rent delinquency patterns that reflects the need for careful underwriting.
The 58201 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Grand Forks:
Property Strategy for 58201
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 1BR | $149,844 | $940 | 4.5% | +0.7% | $149,844 |
| 2BR | $214,583 | $1,180 | 4.0% | +4.8% | $107,292 |
| 3BR | $275,119 | $1,640 | 4.3% | +4.5% | $91,706 |
| 4BR | $353,419 | $1,980 | 4.0% | +4.3% | $88,355 |
| 5BR | $491,135 | — | — | +4.9% | $98,227 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 58201 Compare?
| Metric | 58201 | Grand Forks | Grand Forks, ND-MN | North Dakota |
|---|---|---|---|---|
| Home Value | $330,701 | $192,947 | N/A | $278,677 |
| 5-Year CAGR | 5.1% | 5.5% | N/A | 3.7% |
| Avg Rent | $1,159 | $1,228 | N/A | - |
| Cap Rate | 2.7% | 3.4% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 58201 (Grand Forks, ND). Anonymous, moderated, never written by AI.
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📊 Market Snapshot
| Home Value | $330,701 |
| Monthly Rent | $1,159 |
| Price-to-Rent | 23.8:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 4.2% |
| Cap Rate | 2.7% |
| 5-Year IRR | 7.9% |
📈 Home Appreciation
| 1-Year | +9.8% ▲ |
| 3-Year CAGR | +5.7% ▲ |
| 5-Year CAGR | +5.1% ▲ |
| 10-Year CAGR | +3.2% ▲ |
🏠 Rent Trends
| 1-Year | -4.1% ▼ |
| 3-Year CAGR | +3.4% ▲ |
| 5-Year CAGR | +4.0% ▲ |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (2.7%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 58201
Population: 42,003
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 58201
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Is housing expensive in Grand Forks, ND?
Grand Forks, ND home values average about $331K. That price point suits investors targeting rentals with $1,159/mo in monthly income.
What is the average monthly rent in Grand Forks, ND?
Expect rents around $1,159/mo per month in Grand Forks, ND. With home values at $331K, the yield math works out to reasonable levels for rental investors.
What is the typical renter like in Grand Forks, ND?
Grand Forks, ND offers a measured renter base at the $1,159/mo rent level. Tenant turnover is reasonable for well-managed properties.
What does house hacking look like in Grand Forks, ND?
The a challenging house-hack environment in Grand Forks, ND reflects the rent-to-price spread. Expect meaningful PITI offset at market rents.
What is the best play in Grand Forks, ND?
For Grand Forks, ND, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
You know 58201 now. You don’t know where it ranks.
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How 58201 ranks in Grand Forks, ND-MN
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