Wahpeton is home to the best residential real estate investment market in North Dakota.
The 58075 zip code in Wahpeton presents the greatest opportunity for the best real estate investments among the 1,632 individual real estate markets in North Dakota we evaluated. We looked at property values, population trends, and six other metrics for each market. We used that data to calculate each market's InvestScore.
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Data sources
Most of the data in this article comes from the Zillow Home Value Index and the U.S. Census American Community Survey.
We update our data when the original sources update their data, usually monthly. Sometimes we'll update data more frequently.
Clever also performs regular quality checks to identify outdated data, broken data connections, and other data issues that may arise.
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5 best places to invest in North Dakota
| Rank | City | InvestScore | Affordability | Property value appreciation |
|---|---|---|---|---|
| 1 | Wahpeton | 100 | 3.2 | 35% |
| 2 | Grand Forks | 62.1 | 3.7 | 26% |
| 3 | Valley City | 59.0 | 3.0 | 23% |
| 4 | Minot | 57.8 | 3.1 | 30% |
| 5 | Bismarck | 54.0 | 4.2 | 30% |
🚨 This article is for informational purposes only. It isn't intended to convey financial or legal advice. We recommend you talk to a real estate agent or real estate attorney when buying a home in North Dakota.
1. Wahpeton
We've identified the 58075 zip code in Wahpeton as North Dakota's best real estate investment market. Here's why.
🔎 Key data about Wahpeton (58075)
| Data point | Value | Rank in state (of 1,632 markets) |
|---|---|---|
| InvestScore | 100 | Highest |
| Typical property value | $222,681[1] | 2nd lowest |
| Five-year appreciation | 35%[2] | highest |
| Household income | $68,537[3] | 13th highest |
| Affordability ratio | 3.2 | 4th most affordable |
| Five-year population growth | 1.8%[4] | 4th highest |
| Unemployment rate | 1.7%[5] | lowest |
| Property taxes | $2,373[6] | 5th lowest |
| Educational attainment | 24%[7] | 18th highest |
Wahpeton (zip code 58075) is the best residential real estate investment market in North Dakota. It has the highest property value appreciation among markets we evaluated, with a 35% appreciation of the typical property over the last five years.
Wahpeton is the 4th most affordable market among the 1,632 North Dakota markets we evaluated, with an affordability ratio of 3.2.
2. Grand Forks
The 58203 zip code in Grand Forks is the runner-up spot for the best real estate investments in North Dakota.
🔎 Key data about Grand Forks (58203)
| Data point | Value | Rank in state (of 1,632 markets) |
|---|---|---|
| InvestScore | 62.1 | 2nd highest |
| Typical property value | $226,301[1] | 4th lowest |
| Five-year appreciation | 26%[2] | 9th highest |
| Household income | $60,474[3] | 16th highest |
| Affordability ratio | 3.7 | 8th most affordable |
| Five-year population growth | 1%[4] | 7th highest |
| Unemployment rate | 2.7%[5] | 4th lowest |
| Property taxes | $2,456[6] | 6th lowest |
| Educational attainment | 37%[7] | 7th highest |
The 58203 zip code in Grand Forks features a typical property value of $226,301, the 4th lowest in the state.
Property values have appreciated 26% over the past five years, the 9th highest increase among evaluated markets in the state. Grand Forks homes have an affordability ratio of 3.7, the 8th most affordable in the state.
3. Valley City
The 58072 zip code in Valley City comes in at No. 3 in our ranking of the best residential real estate investment markets in North Dakota.
🔎 Key data about Valley City (58072)
| Data point | Value | Rank in state (of 1,632 markets) |
|---|---|---|
| InvestScore | 59.0 | 3rd highest |
| Typical property value | $190,677[1] | lowest |
| Five-year appreciation | 23%[2] | 14th highest |
| Household income | $64,375[3] | 15th highest |
| Affordability ratio | 3.0 | 2nd most affordable |
| Five-year population growth | -2.5%[4] | 20th highest |
| Unemployment rate | 1.7%[5] | lowest |
| Property taxes | $2,047[6] | 2nd lowest |
| Educational attainment | 33%[7] | 12th highest |
With a typical property value of $190,677, Valley City's 58072 zip code features the lowest property values in the state.
Valley City homes have an affordability ratio of 3.0, the 2nd most affordable among the markets we evaluated.
4. Minot
The 58703 zip code in Minot ranks No. 4 among North Dakota's residential real estate investment markets.
🔎 Key data about Minot (58703)
| Data point | Value | Rank in state (of 1,632 markets) |
|---|---|---|
| InvestScore | 57.8 | 4th highest |
| Typical property value | $258,739[1] | 6th lowest |
| Five-year appreciation | 30%[2] | 5th highest |
| Household income | $82,728[3] | 5th highest |
| Affordability ratio | 3.1 | 3rd most affordable |
| Five-year population growth | -2.1%[4] | 19th highest |
| Unemployment rate | 2.6%[5] | 3rd lowest |
| Property taxes | $3,119[6] | 15th lowest |
| Educational attainment | 33%[7] | 11th highest |
Property values in Minot's 58703 zip code have seen the 5th highest increase among evaluated markets in the state, with an appreciation of 30% over the past five years.
Minot's affordability ratio of 3.1 makes it the 3rd most affordable among the 1,632 markets we evaluated.
5. Bismarck
The 58501 zip code in Bismarck rounds out our top five residential real estate investment markets in North Dakota.
🔎 Key data about Bismarck (58501)
| Data point | Value | Rank in state (of 1,632 markets) |
|---|---|---|
| InvestScore | 54.0 | 5th highest |
| Typical property value | $288,323[1] | 10th lowest |
| Five-year appreciation | 30%[2] | 4th highest |
| Household income | $68,755[3] | 4th highest |
| Affordability ratio | 4.2 | 15th most affordable |
| Five-year population growth | 2.9%[4] | 3rd highest |
| Unemployment rate | 2.5%[5] | 2nd lowest |
| Property taxes | $2,618[6] | 9th lowest |
| Educational attainment | 34%[7] | 9th highest |
Property values in Bismarck's 58501 zip code rose 30% over the last five years, ranking the city 4th highest among evaluated markets in North Dakota.
Bismarck homes have an affordability ratio of 4.2, the 15th most affordable among the markets we evaluated.
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Frequently asked questions
See our article Steps to Buying Your First Rental Property to learn the basics of real estate investing for beginners.
You'll learn the importance of setting goals, picking the right market, and more.
Cash investors often use what's called the 70% rule, which suggests they should pay around 70% of a house's after-repair value minus the cost of renovations.
By buying for about 70% of the after-repair value, they're positioning themselves to pay for repairs and other costs, and to lock in a profit.
The 70% rule isn’t a hard-and-fast formula, but a quick guideline investors use to evaluate potential deals.
Investing in residential real estate can be one of the best passive real estate investments in North Dakota.
Residential real estate offers accessible passive income and the potential to compound your original investment.
Renting out residential units is the top way to invest in real estate. House hacking also offers a great opportunity for passive real estate investment income.
How we rank residential real estate markets in North Dakota
To determine the best real estate investments in North Dakota we evaluated 1,632 markets on eight metrics, and then assigned an InvestScore based on a proprietary weighting framework. Each market corresponds to a specific zip code in North Dakota.
What is InvestScore?
InvestScore is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the residential real estate investment potential of a given market. It takes into account a suite of key data points for each city.
- Typical property value: This measures the typical home value in this zip code, according to the Zillow Home Value Index. It reflects the typical value for homes in the 35th to 65th percentile range, including all homes, with the numbers smoothed and seasonally adjusted. We prefer lower property values, which indicate both more room for growth and a greater ease of purchase.
- Property value appreciation: This measures how much property values have increased in the area over the past five years, according to the Zillow Home Value Index. We prefer a higher appreciation, as it indicates better returns on housing. However, past performance isn't indicative of future results.
- Median household income: This is the inflation-adjusted median household income in the zip code, according to U.S. Census American Community Survey data. We prefer a higher household income, as it indicates local residents have more income to spend on housing.
- Affordability ratio: This is the ratio of the typical home value to the median household income in the area. A lower ratio is better because it means more households can afford a home, which indicates higher demand.
- Population growth: This is how much the area's population has grown over the past five years, according to U.S. Census estimates. Higher is better, as it indicates residents are moving into the area at a rapid clip.
- Unemployment rate: This is the unemployment rate in the area, according to U.S. Census data. We prefer a lower rate, as it indicates the availability of steady employment in the area, meaning residents will find it much easier to afford homes.
- Property tax: This is the median real estate property tax paid in the area, according to U.S. Census estimates.
- Educational attainment: This is the percentage of residents in the area that have obtained a bachelor's degree or better, according to U.S. Census estimates. We prefer a higher rate because it indicates local residents who have higher earning potential and thus should be able to afford homes.
