Rental Markets in North Dakota

DoorBase tracks rental market data across North Dakota by ZIP code. This state page is a crawlable index for investors comparing rents, cap-rate estimates, vacancy, demographics, home values, renter share, household income, and employment conditions before drilling into individual ZIP pages.

North Dakota Rental Market Overview

The current sample of indexable North Dakota ZIP markets shows average median rent of $891, average median home value of $232,576, average cap-rate high of 3.7%, average vacancy of 15.2%, renter ratio near 31.5%, and median household income around $74,355. These statewide figures are directional and should be used to compare markets before reviewing a specific ZIP code.

North Dakota is not one rental market. Large cities, inner suburbs, commuter towns, college markets, rural counties, resort areas, and industrial corridors can produce very different rent levels and ownership economics. DoorBase keeps the canonical content at the ZIP level so investors can move from a broad state view into the most precise local data available.

Featured North Dakota ZIP Markets

ZIP	City	Rent	Cap Rate	Vacancy	Population
58103	Fargo	$880	1.5-3.1%	6.6%	48,520
58104	Fargo	$1,240	1.4-3%	3.2%	47,481
58201	Grand Forks	$1,128	1.7-3.3%	5.2%	42,003
58078	West Fargo	$1,234	1.7-3.3%	4.1%	39,946
58503	Bismarck	$1,447	1.5-3.1%	5.4%	37,081
58801	Williston	$1,259	1.6-3.2%	23.8%	33,969
58701	Minot	$1,270	2.4-4%	11.8%	32,868
58102	Fargo	$1,045	1.9-3.5%	12.9%	32,591
58504	Bismarck	$1,516	2.3-3.9%	4.4%	30,159
58601	Dickinson	$1,267	2-3.6%	13.1%	29,680
58554	Mandan	$1,406	2.1-3.7%	10.2%	29,175
58501	Bismarck	$991	1.5-3.1%	10.5%	28,571
58703	Minot	$1,237	2.5-4.1%	12%	22,604
58401	Jamestown	$1,098	2.6-4.2%	9.4%	17,294
58203	Grand Forks	$1,364	3.2-4.8%	11.7%	16,308
58301	Devils Lake	$682	1.2-2.8%	10.4%	10,046
58854	Watford City	$1,254	1.6-3.2%	23.3%	9,345
58075	Wahpeton	$876	1.9-3.5%	9%	8,887
58072	Valley City	$845	2.2-3.8%	10.5%	8,061
58316	Belcourt	$467	3.3-4.9%	19.8%	5,902
58047	Horace	$1,895	2.4-4%	4.3%	5,136
58237	Grafton	$725	2.4-4%	9.5%	5,051
58704	Minot Afb	$1,413	not available	19.9%	4,601
58763	New Town	$784	1.8-3.4%	27.4%	4,229
58318	Bottineau	$744	1.3-2.9%	34.9%	3,843
58054	Lisbon	$691	1.6-3.2%	5%	3,332
58545	Hazen	$994	1.9-3.5%	21.4%	3,278
58523	Beulah	$1,092	2.4-4%	27%	3,277
58368	Rugby	$815	2.1-3.7%	9.9%	3,205
58421	Carrington	$759	2-3.6%	10.2%	3,043
58202	Grand Forks	$1,344	not available	22%	3,035
58540	Garrison	$669	1.1-2.7%	20.5%	2,986
58012	Casselton	$764	0.9-2.5%	2.8%	2,805
58329	Dunseith	$410	2.7-4.3%	24.4%	2,779
58474	Oakes	$743	1.9-3.5%	6.7%	2,739
58784	Stanley	$1,105	3-4.6%	17.3%	2,728
58341	Harvey	$631	2.4-4%	16%	2,642
58249	Langdon	$818	2.3-3.9%	20.5%	2,363
58257	Mayville	$833	2-3.6%	12.6%	2,275
58220	Cavalier	$843	2.7-4.3%	15.4%	2,215
58045	Hillsboro	$646	1.1-2.7%	9.5%	2,181
58538	Fort Yates	$447	3.1-4.7%	15.8%	2,179
58278	Thompson	$719	0.5-2.1%	3.2%	2,116
58852	Tioga	$1,043	2.1-3.7%	31.9%	2,064
58251	Larimore	$680	1.4-3%	13.8%	1,955
58623	Bowman	$861	2.2-3.8%	24.8%	1,918
58577	Washburn	$804	1.5-3.1%	14%	1,908
58204	Grand Forks Afb	$1,621	not available	2.5%	1,879
58563	New Salem	$850	1.8-3.4%	18.9%	1,850
58270	Park River	$932	3-4.6%	16.1%	1,838
58785	Surrey	$846	1-2.6%	3.9%	1,729
58639	Hettinger	$498	1.6-3.2%	22.4%	1,715
58356	New Rockford	$616	2.9-4.5%	13.3%	1,692
58436	Ellendale	$786	2.8-4.4%	29.7%	1,665
58051	Kindred	$661	0.3-1.9%	5.8%	1,654
58622	Belfield	$1,087	2.2-3.8%	27.2%	1,650
58059	Mapleton	$1,222	1.7-3.3%	8%	1,625
58746	Kenmare	$815	1.5-3.1%	21.7%	1,583
58790	Velva	$732	1.6-3.2%	11.2%	1,500
58367	Rolla	$695	2.5-4.1%	11.6%	1,485

Notable ZIP Markets in This Sample

The highest estimated cap-rate band in this sample tops out at 6.0% in ZIP 58621 (Beach).

The lowest vacancy in this sample is 2.5% in ZIP 58204 (Grand Forks Afb).

The highest median rent in this sample is $1,895 in ZIP 58047 (Horace).

The highest median household income in this sample is $142,216 in ZIP 58047 (Horace).

Rental Markets by City

Fargo

Fargo has 3 ZIP codes in this sample. Median rents range from $880 to $1,240. Estimated cap-rate bands reach up to 3.5% at the high end. Vacancy averages 7.6%. See ZIP 58103 for the full market profile.

Bismarck

Bismarck has 3 ZIP codes in this sample. Median rents range from $991 to $1,516. Estimated cap-rate bands reach up to 3.9% at the high end. Vacancy averages 6.8%. See ZIP 58503 for the full market profile.

Grand Forks

Grand Forks has 3 ZIP codes in this sample. Median rents range from $1,128 to $1,364. Estimated cap-rate bands reach up to 4.8% at the high end. Vacancy averages 13.0%. See ZIP 58201 for the full market profile.

Minot

Minot has 2 ZIP codes in this sample. Median rents range from $1,237 to $1,270. Estimated cap-rate bands reach up to 4.1% at the high end. Vacancy averages 11.9%. See ZIP 58701 for the full market profile.

West Fargo

West Fargo has 1 ZIP code in this sample. Sample median rent is $1,234. Estimated cap-rate bands reach up to 3.3% at the high end. Vacancy averages 4.1%. See ZIP 58078 for the full market profile.

Williston

Williston has 1 ZIP code in this sample. Sample median rent is $1,259. Estimated cap-rate bands reach up to 3.2% at the high end. Vacancy averages 23.8%. See ZIP 58801 for the full market profile.

Dickinson

Dickinson has 1 ZIP code in this sample. Sample median rent is $1,267. Estimated cap-rate bands reach up to 3.6% at the high end. Vacancy averages 13.1%. See ZIP 58601 for the full market profile.

Mandan

Mandan has 1 ZIP code in this sample. Sample median rent is $1,406. Estimated cap-rate bands reach up to 3.7% at the high end. Vacancy averages 10.2%. See ZIP 58554 for the full market profile.

Jamestown

Jamestown has 1 ZIP code in this sample. Sample median rent is $1,098. Estimated cap-rate bands reach up to 4.2% at the high end. Vacancy averages 9.4%. See ZIP 58401 for the full market profile.

Devils Lake

Devils Lake has 1 ZIP code in this sample. Sample median rent is $682. Estimated cap-rate bands reach up to 2.8% at the high end. Vacancy averages 10.4%. See ZIP 58301 for the full market profile.

Watford City

Watford City has 1 ZIP code in this sample. Sample median rent is $1,254. Estimated cap-rate bands reach up to 3.2% at the high end. Vacancy averages 23.3%. See ZIP 58854 for the full market profile.

Wahpeton

Wahpeton has 1 ZIP code in this sample. Sample median rent is $876. Estimated cap-rate bands reach up to 3.5% at the high end. Vacancy averages 9.0%. See ZIP 58075 for the full market profile.

How to Use the North Dakota Directory

Start with the state page to understand the range of rental markets, then open individual ZIP pages for the numbers that matter most to underwriting. A state average can hide important local differences. One ZIP may have stronger rent growth and lower vacancy while a nearby ZIP has better purchase prices but weaker renter demand.

The most useful investor workflow is to compare rent, cap rate, vacancy, home value, renter ratio, household income, population growth, unemployment, and job growth together. No single number is enough. A high cap-rate estimate can be offset by weak income, high vacancy, or limited tenant demand. A lower cap-rate estimate can still make sense if the market has strong income, job growth, and durable renter demand.

State Coverage and Internal Links

This page links into the canonical ZIP URL structure, such as /rentals/nd/30318, without bringing back city parent pages. That structure keeps DoorBase clean for search engines: state pages organize the directory, ZIP pages hold the canonical data, and future market guides can exist separately as heavier editorial SEO hubs.

DoorBase currently tracks 80 sampled ZIP markets across 73 North Dakota cities in this crawlable state summary. The live React page may show a broader interactive directory after JavaScript loads, while this fallback body ensures crawlers receive meaningful text and links immediately.