Mercer County, North Dakota Housing Market
In Mercer County, North Dakota, the median home value is $198,500, with a median monthly rent of $1,031. This places Mercer County at #1419 nationally out of 3134 counties by median home value, and #17 within North Dakota.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,714
- Establishments: 292
- BLS QCEW, 2025
Housing Supply
- Single-family: 3
- Multi-family: 0
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 3,463 (avg $96,112)
- Outflow: 3,277 (avg $98,399)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 2 active ZIP codes in Mercer County · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 58523 | 350.6 | +8.05% | 2025 |
| 2 | 58545 | 295.1 | — | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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💰 Mortgage Guide → 🧾 Property Tax Data →How Mercer County Compares
| Metric | Mercer County | North Dakota Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $198,500 | $175,786 | $227,706 |
| Median Gross Rent | $1,031 | $772 | $968 |
| Owner Occupancy Rate | 81.1% | 73.6% | 73.3% |
| Price/Rent Ratio | 16.0 | 18.9 | 18.7 |
Market Analysis
The median home value in Mercer County is 12.9% above the North Dakota state average and 12.8% below the U.S. national average. The median rent of $1,031/month is 33.5% above the state average.
With a price-to-rent ratio of 16.0, the buy-vs-rent decision in Mercer County is balanced. Whether buying or renting makes more sense depends on your time horizon, down payment capacity, and local market conditions.
Mercer County has an owner-occupancy rate of 81.1%, compared to 73.6% in North Dakota and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Dade County | Georgia | $198,500 | $829 |
| Ionia County | Michigan | $198,500 | $884 |
| Valley County | Montana | $198,400 | $767 |
| Taylor County | Texas | $198,600 | $1,159 |
| Franklin County | Kansas | $198,700 | $1,042 |
Other Counties in North Dakota
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Ramsey County | $199,300 | $714 | 54.5% |
| Traill County | $200,700 | $717 | 74.3% |
| Bottineau County | $193,200 | $796 | 79.2% |
| Ransom County | $193,000 | $691 | 74.7% |
| Stutsman County | $208,400 | $774 | 63.1% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).