Commercial Real Estate Market in Grand Forks, ND
Updated monthly: sale, lease, property records, location trend, and more… · Last update: August 31
53 active listings and 3,195 off-market properties in Grand Forks, ND. Commercial property asks $150/SF to buy and $15.60/SF/Yr to lease.
Market Trends
Grand Forks, ND spans 145.7 square miles in Grand Forks County, North Dakota. Figures below refresh monthly; last updated 31 August 2026.
Office
Office vacancy in Grand Forks, ND runs 21.3% across the Midwest region in 2025, up from 13.7% in 2019.
Vacancy Rate % in Midwest region
Retail
Retail vacancy in Grand Forks, ND runs 6.3% across the Midwest region in 2025, down from 8% in 2020.
Vacancy Rate % in Midwest region
Industrial
Industrial vacancy in Grand Forks, ND runs 4.9% across the Midwest region in 2025, up from 4.4% in 2019. Nearly 1.6x the 2022 low of 3.1%.
Vacancy Rate % in Midwest region
Multifamily
Multifamily vacancy in Grand Forks, ND runs 8% across the Midwest region in 2025, up from 6.5% in 2022.
Vacancy Rate % in Midwest region
Market overview
Demographics & Economy
Grand Forks, ND has 63,415 residents in 29,367 households. Density runs 435 people per square mile. Median household income here is $64,700 and median gross rent $992 a month.
63,415
Population
29,367
Households
2.2
Avg Household Size
30
Median Age
41%
College-Educated
96%
High-School Grad
145.7 sq mi
ZIP Area
435
Density / Sq Mi
$64,700
Median Household Income
$38,807
Median Earnings
$992
Median Rent
$254,331
Median Home Value
Tools
Nearby Markets
| Market | Average Sale Price, $/SF | Average Lease Price, $/SF/Yr |
|---|---|---|
| East Grand Forks | — | — |
| Thompson | — | — |
| Manvel | — | — |
| Fisher | — | — |
Commercial property in Grand Forks, ND asks $150/SF.
Frequently Asked Questions
What is the average price per square foot for commercial property in Grand Forks?
Commercial property in Grand Forks, ND asks an average of $150 per square foot. The 4 most recent recorded sales traded at a median of $75/SF, so asking sits 100% above the achieved median.
How much does it cost to lease commercial space in Grand Forks?
Asking lease rates in Grand Forks, ND average $15.60 per square foot per year.
Where does Realmo's Grand Forks market data come from?
Realmo compiles Grand Forks, ND figures from 7 recent recorded sales, 25 active sale listings, 28 active lease listings, 3,195 tracked off-market properties. Sale and lease figures refresh monthly; vacancy annually. Last updated 31 August 2026.
Methodology & data sources
- Asking prices and averages
- Computed from 25 active for-sale and 28 active for-lease listings in Grand Forks, ND. These are ASKING figures from live listings, not closed-transaction prices, and a segment carried by a handful of listings reads as indicative rather than an average.
- Vacancy rates
- Published per-sector market series, taken at the metro level where one exists and otherwise at the Census-region level — a chart reading "in <region> region" is a regional number, not this city's.
- Refresh
- The monthly aggregates close at the end of the previous month, so 31 August 2026 — not today — is the honest last update.
- Known limitations
- office vacancy is reported at Midwest region level, retail vacancy is reported at Midwest region level and industrial vacancy is reported at Midwest region level.
- Coverage
- Metrics below the 10-observation threshold fall back one geographic level. The geography used is named on each figure.
Compiled by the Realmo Data team · reviewed 31 August 2026 · report a data issue
