2021 North Dakota RE Market Forecast

[Matthew Rogers]

Friends,

I'm interested in hearing your thoughts on the ND real estate market in 2021. In my area (Minot) single family homes can still be found at reasonable prices and rent well. I'm cashing flowing $300+ on the two I have currently. I close on my 3rd next week and it projects to do even better. However, multi-family deals seem to be expensive, overdeveloped and in short supply on the MLS. I'm optimistic that Air Force base upgrades (North) and the Trinity hospital development (South) will create a positive growth trend over the course of the next 5+ years. This year I am seeing estimates of 8% appreciation in the zip codes I own property in.

I am expanding my radius to find a good multi family or small apartment deal, but have no idea how to evaluate the more rural areas.  Bismarck looks to be pretty expensive and Williston/Dickinson I worry about due to the current politics surrounding fossil fuels.  Grand Forks/Fargo are a bit beyond my reach.

Any other thoughts/strategies for your neck of the woods this year?

-Matt