58202, Grand Forks, ND

The 58202 zip code of Grand Forks, ND is located in the northwestern part of the state and has a population of approximately 25,000. The median household income in this zip code is $39,000, which is significantly lower than the statewide median household income of $60,000. The homeownership rate in this zip code is just over 60%, which is lower than the statewide homeownership rate of 67%.

Despite having a lower median household income and homeownership rate, home prices in the 58202 zip code are significantly higher than the statewide average. In fact, according to Zillow’s recent report on home prices across all 50 states and Washington D.C., Grand Forks ranks as the fifth most expensive zip code in North Dakota with an average home value of $269,200. This high level of home values can be attributed to several factors including low unemployment rates (3% as opposed to North Dakota’s overall unemployment rate of 5%), strong job market prospects and limited inventory availability.

Despite being one of the most expensive zip codes in North Dakota, there are still opportunities for buyers who are looking for affordable homes. According to Zillow’s report on ZIP codes with lowest home values across all 50 states and Washington D.C., 58202 ranks as number twenty-one out of fifty-eight ZIP codes with a median home value below $150,000. Additionally, there are a number of affordable housing options available in this area including rental properties and condominiums.