Here’s How Much North Dakota’s Housing Prices Have Risen In 5 Years
A company called Boulder Home Source analyzed data from Zillow to determine how much house prices have risen, not only in North Dakota, but every state in the county.
Before I tell you where North Dakota compares to other states for rising house prices, allow me to give you the top 5 states with the highest increases.
THE HIGHEST INCREASES
I don't find this one surprising at all. If you've frequented the state, as I have you've noticed it is growing rapidly and it is getting more and more expensive to live there.
4. New Mexico
New Mexico makes the top 5 for most expensive homes. Similar to Georgia, the reason for this, is that there is more demand than supply.
Cost of living in Georgia is low, so how is it that the state has one of the most overpriced housing markets in the country? The answer: demand.
According to the Georgia Virtue, the average house in the state goes for approximately $330,218.
You might not find this surprising but Montana has the second highest increase in house prices of all 50 states. According to Bozeman Real Estate Group, the cost of land is what is so expensive, which makes the overall price of the home, extremely expensive.
Yes, you wouldn't expect it, but Idaho's house prices have skyrocketed in the past five years. The source says Idaho has had a 91.9% increase.
According to deseret.com Idaho's homes are overvalued by 76.9%. If you're planning to move sometime soon, you might want to avoid Idaho.
THE LOWEST INCREASES
Mississippi has had one of the lowest increases for many reasons: land availability, low median income, and the low cost of living all contribute to this, according to sellyourhousefastms.com.
The state has only seen a 36.7% increase over the past five years.
While the prices of homes in Maryland haven't risen much over the past five years, multiple sources claim house still aren't' cheap in the state.
Alaska has had one of the lowest increases in housing prices, yes. That said, it doesn't mean houses are necessarily heap there. Have you looked on Realtor.com or Zillow?! Sheesh.
The cost of living and overall goods in Louisiana are lower than the national average, and the same is true for the cost of housing.
The source found that Louisiana has only had a 23.36 percent increase in housing prices over the past five years.
1. North Dakota
That's right! North Dakota has had the lowest housing market increase over the past five years. How awesome is that?!
North Dakota had only a 22.7% increase over the last five years.
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