Building Costs Per Square Foot in the State of North Dakota, USA

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North Dakota 3815 Knudsen Loop Bismarck ND58503 - 3 Bed and 3 Baths with 3 Garages on Gross Floor Area 1,914 - Built in 2021 - Price $614,900 (1)

Newly Built House in North Dakota 3815 Knudsen Loop Bismarck ND58503 – 3 Bed and 3 Baths with 3 Garages on Gross Floor Area 1,914 – Built in 2021 – Price $614,900 (1)

Residential Construction Market Analysis in the State of North Dakota, USA

Building costs are 4% above the national average in the state of North Dakota , equivalent to the state of Illinois and closer to the states of Rhode Island and Texas by a deviation of 1%. There are only a few other states in the country that embrace their nature the way that North Dakota does it. Here you can find the marvellous Lake Sakakawea, and green prairies to have the most fantastic picnics on. All this nature is preserved due to the fact that North Dakota has a really low amount of population, especially when compared to other states. However, it does have large urban centers as here you will find cities like Fargo, Bismarck, and Grand Forks, while the other parts of the state are mostly rural.

With a low unemployment rate and a high level of quality of life, North Dakota is increasingly inviting people from all states to move here. Not everything is natural, its urban centers have a special attraction for people who are looking for a more youthful lifestyle.

There are some things that make the North Dakotan real estate market unique, and that can only be understood if you look at the state’s current context. Factors such as the weather, and the economic and political situation, among other things, are among those that most influence the real estate market in North Dakota.

If you are thinking of buying or selling in North Dakota, then let me tell you, you are in the right place. Here we will show you the state of the real estate market, with certain predictions for the coming months and current North Dakota housing statistics, which will be of great help to you.

North Dakota Construction Outlook

None of the cities in North Dakota are characterized by buildings or large constructions. Only in Bismarck is there a tall one, but in the rest of the places the maximum height is usually 10 stories, and they are not common at all.

There is a wide variety of condominiums, especially in areas close to the university campus, since the university does not have the capacity to accommodate all its students, and this is always viewed favorably by investors.

Due to its location in the geographic center of North America, it has a typical continental climate with light to moderate rainfall that tends to be irregular in duration and coverage. This means that there are some wooden or mobile houses since there are no big storms. Residential buildings are traditional and there is usually no modern architectural style.

North Dakota Housing Market Analysis and Forecast

While both home values ​​and listing prices are trending slightly upward in North Dakota, high average days on market coupled with moderate inventory suggests listing prices may plateau or even decline.

If you’re a seller, the best month to sell a house fast in North Dakota is in June. North Dakota homes sold in June are on the market for an average of 79, which is 27 days faster than the annual average. Now as for the values, the best month is December since the houses are usually 6% more expensive than what they would be in the other months of the year, giving you a higher level of profit.

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For buyers, the cheapest season is usually between January and February, although there is not a wide variety of houses listed. If you have a good budget, then the months from April to July are best for you, since there is a greater variety of houses listed there, and new properties are always added every week.

On the contrary to what some people might think, it is a great idea to invest in the real estate market of North Dakota. You will be able to see faster and better results if you chose to invest in larger cities like Fargo and Bismarck, because there is always a good amount of people searching for properties.

North Dakota Average House Price (Median Home Price)

The average value of a median home in North Dakota is $271,140, ​​which is 9% of the value it had during this same period but in 2021, and if we go to 2020 at that time the value was $235,000. However, despite this increase, it remains an affordable state to buy a home and then live your life in, and is even good for profit-seeking investors.

In cities like Bismarck and Fargo, property prices tend to be higher. They are likely to cost an average of $300,000, although you should always remember that this is a general average, and it is possible to find cheaper properties.

By median home, we mean a house with 3 bedrooms, 2 bathrooms, a kitchen, a living room, a garage, and a small garden. Apartments or mobile homes usually fall into another category, so they do not affect the overall average.

If you are looking for cheaper towns within North Dakota, then Williston, Dickinson, and Minot may be a good idea. In fact in Minot with $300,000 you can find a house of 2921 square feet, which is a very good price.

Proposed Residential Building Projects in North Dakota

There are some buildings under construction in Bismarck and Fargo, but they do not exceed 10 stories, although they are prepared to accommodate a large number of people. They have new apartments, made to accommodate families, single people, and couples, or they can even be used as offices. These buildings are usually quite simple but combine a traditional design on the outside with a modern and minimalist interior.

There are also some residential houses under construction, which are not luxury houses but they are close to them. They are houses with more than 4 rooms and two floors, so the sale prices exceed $450,000 on average.

There are many condominium projects or many construction companies that prepare mobile homes and sell them together with land, which is a good combo for people who are looking to fulfill their dream of having their own home but do not have such a high budget.

North Dakota 308 Trent Jones Drive Oxbow ND58047 - 5 Bed and 3 Baths with 3 Attached Garages on Gross Floor Area 4,310 sqft - Built in 2021 - Price $910,000 (2)

Newly Built House in North Dakota 308 Trent Jones Drive Oxbow ND58047 – 5 Bed and 3 Baths with 3 Attached Garages on Gross Floor Area 4,310 sqft – Built in 2021 – Price $910,000 (2)

Building Costs Per Square Foot for Single Family Homes in the State of North Dakota, USA

Building costs are 4% above the national average in the state of North Dakota , equivalent to the state of Illinois and closer to the states of Rhode Island and Texas by a deviation of 1%.

Class 1 – Luxury Single Family Homes

The building cost per square foot for luxury private homes in North Dakota ranges from $358.69 per sqft to $549.85 per sqft, with the average being $423.30 per sqft. As the bar chart shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

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Class 2 – Semi Luxury Single Family Homes

The building cost per square foot for semi-luxury private homes in North Dakota ranges from $217.99 per sqft to $334.15 per sqft, with the average being $257.26 per sqft. As the bar chart shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 3 – Best Standard Single Family Homes

The building cost per square foot for best-standard private homes in North Dakota ranges from $140.92 per sqft to $214.04 per sqft, with the average being $164.99 per sqft. As the bar chart shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 4 – Good Standard Single Family Homes

The building cost per square foot for good-standard private homes in North Dakota ranges from $102.85 per sqft to $157.72 per sqft, with the average being $121.38 per sqft. As the bar graph shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 5 – Average Standard Single Family Homes

The building cost per square foot for average-standard private homes in North Dakota ranges from $83.48 per sqft to $127.85 per sqft, with the average being $98.44 per sqft. As the bar graph shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

Class 6 – Minimum Standard Single Family Homes

The building cost per square foot for minimum-standard private homes in North Dakota ranges from $65.84 per sqft to $100.92 per sqft, with the average being $77.67 per sqft. As the bar graph shows below, bigger homes with a large gross floor area have the lowest building costs per ft2, and smaller homes with a small gross floor area have the highest building costs per ft2. Medium-sized homes are somewhere in between. Generally, the building cost per square foot decreases as the size of the house gets bigger, and increases as the house gets smaller.

List of 8 Metropolitan Areas/Cities in North Dakota – Percentage Deviation of the City/Town Building Cost from the National Average ($X), in Descending Order:

There are 1,665 municipalities (cities, towns and villages) and 767 special districts grouped into 53 counties in the state of North Dakota. The bar chart below indicates that building costs vary in each metro city/town. The construction cost per square foot in each of these metropolitan cities varies from the state and national average by a certain percentage based on the location factor also known as the local modifier.

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The percentage deviation of building costs from the National Average for each metropolitan area in North Dakota is shown below.

If $X is the Average National Building Cost in the USA, then it will cost the following to build a residential property in each metro city/town in North Dakota:

North Dakota  Average 4% (4% more than X)

  • Nekoma 583 -10%
  • Jamestown 584 -4%
  • Grand Forks 582 -1%
  • Fargo 580-581 0%
  • Bismarck 585 3%
  • North Dakota Average 4%
  • Minot 587 9%
  • Dickinson 586 15%
  • Williston 588 21%

The Metropolitan Area List above as well as the Bar Graphs below shows that Nekoma is the cheapest city to build a private home in the state of North Dakota, and Williston is the most expensive city to build a home. Building costs are -10% below the national average in Nekoma and 21% above the national average in Williston.

Cheapest Places To Build in North Dakota:

Nekoma is the cheapest to place to build at -10% below the national average, followed by Jamestown at -4% below the national average. The third cheapest place to build a house is Grand Forks at -1% below the national average, followed by Fargo. Construction costs are equivalent to the national average in Fargo. The fifth cheapest place to build is Bismarck at 3% above the national average.

Expensive Places To Build in North Dakota:

If anything between 5% and 10% is considered expensive, then there is one such metropolitan area in the state of North Dakota. Building a house in the City of Minot is 9% more than the national average.

More Expensive Places To Build in North Dakota:

If anything between 10% and 15% is considered more expensive, then there are no such metropolitan areas in state of North Dakota.

Very Expensive Places To Build in North Dakota

The most expensive places to build a house in the USA are those 15% above the national average. There are 2 such places in North Dakota. The City of Williston is among the most expensive to build a house at 21% above the national average. Building costs are 15% higher than the national average in the City of Dickinson.

North Dakota State Average Costs:

Private home building costs in the state of North Dakota are 4% higher than the national average. Building cost rates in the metropolitan area of Bismarck are closer to the North Dakota state average by a deviation of 1%. Residential development costs in Fargo are equivalent to the state average. Williston is the most expensive city to build a home in North Dakota, and the state of North Dakota is number 40 on the national ascending costs scale, which is the 10th most expensive city to build a house in the USA.


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