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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 1,467, 637 total housing units (homes and apartments), and a median house value of $319,214, Garrison real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Garrison, accounting for 76.75% of the city's housing units. Other types of housing that are prevalent in Garrison include large apartment complexes or high rise apartments ( 12.65%), duplexes, homes converted to apartments or other small apartment buildings ( 5.91%), and a few mobile homes or trailers ( 3.30%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Garrison. Owner-occupied housing accounts for 72.37% of Garrison's homes, and 56.26% have either three or four bedrooms, which is average sized relative to America.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Garrison's housing was primarily built during this period, from the '40s through the '60s. A full 35.76% of the city's housing hails from this era. Other housing ages represented in Garrison include homes built between 1970-1999 ( 27.51%) and housing constructed before 1939 ( 21.32%). There's also some housing in Garrison built between 2000 and later ( 15.41%).
Vacant housing appears to be an issue in Garrison. Fully 12.38% of the housing stock is classified as vacant. Left unchecked, vacant Garrison homes and apartments can be a drag on the real estate market, holding Garrison 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.
Garrison's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Garrison during the period has been just 5.26%, which is lower than 70% of US communities.
Appreciation rates are so strong in Garrison that despite a nationwide downturn in the housing market, Garrison real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Garrison appreciation rates continue to be some of the highest in America, at 9.42%, which is higher than appreciation rates in 83.74% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Garrison. Garrison appreciation rates in the latest quarter were at 5.16%, which equates to an annual appreciation rate of 22.29%.
Importantly, this makes Garrison one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to North Dakota, our data show that Garrison's latest annual appreciation rate is higher than 50% of the other cities and towns in North Dakota.
$319,214
for North dakota
for nation
637
$1,022 / per month