Devils Lake, ND Real Estate Market

Source & Methodology

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 Q1 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Devils Lake, ND Housing Market Trends

With a population of 7,192, 3,360 total housing units (homes and apartments), and a median house value of $129,104, house prices in Devils Lake are solidly below the national average.

Single-family detached homes are the single most common housing type in Devils Lake, accounting for 45.34% of the city's housing units. Other types of housing that are prevalent in Devils Lake include large apartment complexes or high rise apartments ( 25.20%), duplexes, homes converted to apartments or other small apartment buildings ( 18.45%), and a few mobile homes or trailers ( 8.05%).

People in Devils Lake primarily live in small (one, two or no bedroom) single-family detached homes. Devils Lake has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Devils Lake 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 Devils Lake built between 1940-1969 ( 34.51%). A lesser amount of the housing stock also hails from between 2000 and later ( 15.26%). There's also some housing in Devils Lake built before 1939 ( 15.03%).

Vacant housing appears to be an issue in Devils Lake. Fully 14.98% of the housing stock is classified as vacant. Left unchecked, vacant Devils Lake homes and apartments can be a drag on the real estate market, holding Devils Lake 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.

Devils Lake Home Appreciation Rates

Devils Lake's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Devils Lake during the period has been just 3.80%, which is lower than 70% of US communities.

Over the last year, Devils Lake appreciation rates have trailed the rest of the nation. In the last twelve months, Devils Lake's appreciation rate has been 6.00%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Devils Lake were at 0.53%, which equates to an annual appreciation rate of 2.14%.

Notably, Devils Lake's appreciation rate in the latest quarter is one of the lowest in America.

Relative to North Dakota, our data show that Devils Lake's latest annual appreciation rate is lower than 80% of the other cities and towns in North Dakota.

Average Home Values

 

Median Home Value:
$129,104

Devils Lake, ND HOME PRICES

> $1,102,000
$826,001 - $1,102,000
$551,001 - $826,000
$441,001 - $551,000
$331,001 - $441,000
$221,001 - $331,000
$110,001 - $221,000
$55,001 - $110,000
$0 - $55,000
0.0%
0.0%
0.0%
0.0%
1.5%
1.5%
3.4%
3.4%
4.3%
4.3%
18.2%
18.2%
36.0%
36.0%
28.3%
28.3%
8.4%
8.4%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very Low for Nation

Low for ND

Value Relative To Nation

Number Of Homes And Apartments:
3,360

Devils Lake Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
ND*
Compared To
America*
Latest Quarter:
2021 Q4 - 2022 Q1
Last 12 Months:
2021 Q1 - 2022 Q1
Last 2 Years:
2020 Q1 - 2022 Q1
Last 5 Years:
2017 Q1 - 2022 Q1
Last 10 Years:
2012 Q1 - 2022 Q1
Since 2000:
2000 Q1 - 2022 Q1
129.00% 3.79%
2
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$827 / per month

Homeownership Rate

Owners
Renters
Vacant
44.2%
44.2%
55.8%
55.8%
15.0%
15.0%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
15.3%
15.3%
35.2%
35.2%
34.5%
34.5%
15.0%
15.0%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
45.3%
45.3%
3.0%
3.0%
18.4%
18.4%
25.2%
25.2%
8.0%
8.0%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
8.2%
8.2%
16.1%
16.1%
34.0%
34.0%
28.1%
28.1%
8.9%
8.9%
4.6%
4.6%
0.0% 100.0%
% OF HOMES

Popular Neighborhoods in Devils Lake

Popular Communities Near Devils Lake, ND

Zip Codes in Devils Lake, ND