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EconPulse

Local economy signal dashboard

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PLACEThriving

Grand Forks, ND

Thriving overall. Federal Funds is the clearest support signal, while housing needs the most attention. Housing reads as affordable for a median-income household.

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Overall score84out of 100
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91
85
76
74
100

Population

59,042

Data freshness

Unknown

GDP / Output

+7.5% YoY

91

$5.9B

Output changed +7.5% in 2024.

Vintage date unknown

State growth2.8%
U.S. growth5.3%

Jobs

Unemployment rate

85

2.4%

Unemployment is 2.4% for Latest available.

Vintage date unknown

State avg2.8%
U.S. avg4.1%

Population

+4.3% 5-year

76

59,042

Population moved +4.3% over the latest ACS window.

Vintage date unknown

State population784,841
U.S. population334,922,499

Housing

Rent share of income

74

18.5%

Median rent consumes 18.5% of median household income: Affordable.

Vintage date unknown

State rent$954
U.S. rent$1.4K
HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

Federal Funds

$13.3K per resident

100

$974.0M

$974.0M in federal obligations flowed here in FY2025.

Vintage date unknown

State total$98.4B
U.S. total$5.3T

Population and output

Trend Snapshot

Reported share

Industry Breakdown

FY2025

Federal Money

Federal obligations

$974.0M

$13.3K per resident in reported federal flow.

Top agencies

Dollars
1. Department of Agriculture$364.5M
2. Social Security Administration$283.3M
3. Department of Defense$119.9M

Top recipients

Dollars
1. MINNKOTA POWER COOPERATIVE, INC.$314.5M
2. UNIVERSITY OF NORTH DAKOTA$49.4M
3. NORTH DAKOTA DEPARTMENT OF TRANSPORTATION$43.6M

Affordable

Housing Affordability

18.5%

of median income

1BR estimate$804
2BR estimate$1,058
Median income$63,627
Median home value$249,900

ACS context

Quick Facts

Population

59,042

Median age

29.6

Bachelor's degree+

40.0%

Poverty rate

15.5%

Labor force participation

71.0%

Prime rate

6.8%

CPI YoY

+3.0%

U.S. GDP YoY

+6.6%

Sources and warnings

Data Provenance

Census ACS 5-year

2024

BLS LAUS / CPS

Latest available

BEA regional CAGDP1

2024

USAspending

FY2025

FRED

2026-09-15

HUD Fair Market Rent

Latest available

Data notes
  • HUD_API_TOKEN missing; ACS median gross rent is used as the housing affordability fallback.

5-year compound growth

Historical Trends

Population CAGR

+0.9%

GDP CAGR

+6.7%

Federal flow

5 years

Population (5 years)
202056,588
202158,867
202258,935
202358,882
202459,042
GDP (5 years)
2020$4.3B
2021$4.5B
2022$5.0B
2023$5.5B
2024$5.9B

2-year linear forecast

Predictive Outlook

Population forecast

202459,042
202559,940 *
202660,432 *

R² = 54.9% · * projected

GDP forecast

2024$5.9B
2025$6.3B *
2026$6.7B *

R² = 98.7% · * projected

Linear regression over available historical data. Projections are estimates based on past trends and do not account for policy changes, economic shocks, or other external factors.

housing affordability breakdown

Cost of Living

Median household income$63,627/yr
Median rent$980/mo
Rent share of income18.5%
Est. mortgage (30yr, 6.5%)$15,164/yr
Mortgage share of income23.8%

Rent data from Census ACS 5-year. Mortgage estimate assumes 20% down, 6.5% APR, 30-year fixed.

employment snapshot

Job Market

Unemployment rate2.4%
State avg2.8%
U.S. avg4.1%
Labor force participation71.0%
Poverty rate15.5%

Data from BLS LAUS / CPS. Latest available.

valuation snapshot

Real Estate

Median home value$249,900
Median monthly rent$980
Price-to-rent ratio21.3x

High price-to-rent ratio — renting may be more economical than buying in this market.

composite score

Investment Climate

Investment climateStrong
Composite score85/100
Economic growth91/100
Labor market85/100
Population momentum76/100
Overall stability84/100

Composite score weighs economic growth, labor market health, population momentum, and overall stability. Not financial advice.

Location Context

Grand Forks city, North Dakota

City/Town

Part of

Grand Forks, ND-MN

Nearby locations

East Grand Forks, MNThompson, NDManvel, NDEmerado, NDGrand Forks AFB, ND