58204, Grand Forks Afb, ND

The 58204 zip code of Grand Forks Afb, ND has a median home value of $123,000 and a median home equity value of $86,000. The home values in this zip code are lower than the national median home value of $177,500 and the North Dakota median home equity value of $101,200. This indicates that there is more demand for homes in this zip code than there is available homes.

One factor that could be contributing to the low availability of homes in this zip code is the high level of student loan debt among residents. According to Zillow’s 2018 report on student loan debt levels, Grand Forks Afb has the third-highest level of student loan debt in North Dakota behind Fargo and Bismarck. This high level of student loan debt may be preventing some residents from purchasing homes due to their concerns about being able to afford the monthly payments.

Another factor that could be contributing to the low availability of homes in this zip code is the high level of unemployment among residents. According to The Daily Review’s 2018 report on unemployment rates in North Dakota, Grand Forks Afb has a rate of 4.1 percent which is higher than both the statewide rate (3.9 percent) and national rate (3.7 percent). This high level of unemployment may be preventing some residents from being able to afford to purchase a home even if they had enough money saved up for down payment and monthly payments.