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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Watford City, 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 Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

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

Watford City, ND Housing Market Trends

With 5,885 people, 2,435 houses or apartments, and a median cost of homes of $466,891, Watford City real estate is some of the most expensive in North Dakota, although Watford City home values aren't among America's most expensive.

Large apartment complexes or high rise apartments are the single most common housing type in Watford City, accounting for 50.64% of the city's housing units. Other types of housing that are prevalent in Watford City include single-family detached homes ( 29.45%), mobile homes or trailers ( 7.47%), and a few row houses and other attached homes ( 7.19%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

People in Watford City primarily live in small (one, two or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Watford City has a mixture of owner-occupied and renter-occupied housing.

Watford City homes and real estate are some of the newest in America. 76.54% of Watford City's housing was built since 2000, making the city have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Watford City real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 11.87%), and between 1940-1969 ( 7.11%). There's also some housing in Watford City built before 1939 ( 4.48%).

Vacant housing appears to be an issue in Watford City. Fully 33.42% of the housing stock is classified as vacant. Left unchecked, vacant Watford City homes and apartments can be a drag on the real estate market, holding Watford City 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.

Watford City Home Appreciation Rates

Watford City's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Watford City during the period has been just 5.60%, which is lower than 70% of US communities.

Appreciation rates are so strong in Watford City that despite a nationwide downturn in the housing market, Watford City real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Watford City appreciation rates continue to be some of the highest in America, at 9.36%, which is higher than appreciation rates in 83.37% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Watford City. Watford City appreciation rates in the latest quarter were at 5.16%, which equates to an annual appreciation rate of 22.29%.

Importantly, this makes Watford City 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 Watford City's latest annual appreciation rate is higher than 50% of the other cities and towns in North Dakota.

Average Home Values

Median Home Value

$466,891

Watford City, ND Home Prices
> $1,430,000
$1,072,001 - $1,430,000
$714,001 - $1,072,000
$571,001 - $714,000
$429,001 - $571,000
$286,001 - $429,000
$143,001 - $286,000
$71,001 - $143,000
$0 - $71,000
1.3%
1.3%
5.9%
5.9%
6.6%
6.6%
22.8%
22.8%
21.4%
21.4%
16.6%
16.6%
20.8%
20.8%
3.0%
3.0%
1.7%
1.7%
0% 100.0%
% of Homes
Very High

for North dakota

High

for nation

Number of Homes And Apartments:

2,435

Watford City Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,688 / per month

Homeownership Rate

Owners
Renters
39.8%
39.8%
60.2%
60.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
33.4%
33.4%
66.6%
66.6%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
76.5%
76.5%
11.9%
11.9%
7.1%
7.1%
4.5%
4.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
29.5%
29.5%
7.2%
7.2%
5.3%
5.3%
50.6%
50.6%
7.5%
7.5%
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
28.8%
28.8%
7.8%
7.8%
21.4%
21.4%
19.0%
19.0%
16.8%
16.8%
6.2%
6.2%
0% 100.0%
% of Homes

Popular Neighborhoods in Watford City

Popular Communities Near Watford City, ND

Zip Codes in Watford City, ND