DECEMBER 12TH, 2018

North Dakota Mortgages

North Dakota is a state with a agricultural history. The state has an economy that follows the national trends closely, and a housing market that while small is also vibrant. The 2002 US census showed that there were 294,165 total housing units in North Dakota.

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The home ownership rate was almost exactly even with the national average. The census showed that in 2000, 66.6% of people in North Dakota were home owners, and that 66.2% of people nationwide owned their homes. Where North Dakota differs from the national average heavily is in the home value. While the national average for median home value in 2000 was $119,600, the numbers in North Dakota were significantly different. The census showed that in the same year, the median value for an owner occupied housing unit in North Dakota was $74,400. In essence, a home in North Dakota was close to half the price of the national average.

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The economy in North Dakota wasn’t holding the home owners back, as the median household income in 1999 was $34,604, compared to the national average that year of $41,994. While the median household income in North Dakota was lower, it wasn’t as significant a difference as was encountered in home value.

For those that are thinking about purchasing a home in North Dakota, now is a fantastic time to buy. In Fargo, one of the largest urban centers in North Dakota, the time is right to buy or sell. West Fargo has seen a huge rise in popularity in the past several years, and the housing market is looking stronger than it has in past years. Many of the most sought after homes and master planned neighborhoods that are conveniently near to shopping, schools, entertainment and dining are in this community. The housing selection continues to increase, and become more diverse with exceptional buys for first time home buyers, luxury homes, and new construction as well.

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Along with having a safe and clean metro area with a strong focus on family and community, the city boasts fine educational opportunities. As well as cultural centers, shopping, dining and entertainment that is drawing many to the growing city. Some of the largest industries in the area are educational, medical, technological, and agricultural. There is a plethora of job areas and employment opportunities are plentiful.

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