Mandan, ND Real Estate Market
Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Date(s) & Update Frequency:
- Home Values, Rents: Reflects Q2 2024. Updated quarterly.
- Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
Mandan, ND Housing Market Trends
With a population of 24,486, 9,746 total housing units (homes and apartments), and a median house value of $348,525, Mandan real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Mandan, accounting for 59.28% of the city's housing units. Other types of housing that are prevalent in Mandan include large apartment complexes or high rise apartments ( 20.67%), mobile homes or trailers ( 11.69%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 4.42%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Mandan. Owner-occupied housing accounts for 66.58% of Mandan's homes, and 56.58% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Mandan built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Mandan built between 2000 and later ( 31.15%). A lesser amount of the housing stock also hails from between 1940-1969 ( 18.41%). There's also some housing in Mandan built before 1939 ( 10.00%).
Vacant housing appears to be an issue in Mandan. Fully 12.69% of the housing stock is classified as vacant. Left unchecked, vacant Mandan homes and apartments can be a drag on the real estate market, holding Mandan real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Mandan Home Appreciation Rates
Some of the lowest real estate appreciation rates in America over the last ten years have been in Mandan, where house values have increased just 43.19%, which is annualized rate of 3.65%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.
Over the last year, Mandan appreciation rates have trailed the rest of the nation. In the last twelve months, Mandan's appreciation rate has been 1.57%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Mandan were at 1.11%, which equates to an annual appreciation rate of 4.51%.
Relative to North Dakota, our data show that Mandan's latest annual appreciation rate is lower than 90% of the other cities and towns in North Dakota.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Mandan differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Mandan - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Mandan real estate investment or home purchase decisions.
Median Home Value
$348,525
Very High
for North dakota
High
for nation
Number of Homes And Apartments:
9,746
ND
America
2024 Q1 - 2024 Q2
2023 Q2 - 2024 Q2
2022 Q2 - 2024 Q2
2019 Q2 - 2024 Q2
2014 Q2 - 2024 Q2
2000 Q1 - 2024 Q2
Average Market Rent:
$1,232 / per month