The typical owner-occupied home in Grace City is worth about $22,500, 91% below the North Dakota median of $249,900 and 93% below the national median of $332,700. The median household earns $71,250 a year, so the median home costs 0.3 times the median income (3.3 times for North Dakota). 97% of occupied homes here are lived in by their owners, and 21% of those owners still have a mortgage.
Grace City at a glance
| Grace City | North Dakota | U.S. | |
|---|---|---|---|
| Median home value | $22,500 | $249,900 | $332,700 |
| Median property tax paid per year | – | $2,468 | $3,119 |
| Median household income | $71,250 | $76,657 | $80,734 |
| Homes lived in by their owners | 97% | 63% | 65% |
| Owner homes with a mortgage | 21% | 52% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,762 | $1,963 |
| Median rent | – | $954 | $1,413 |
| Median year homes were built | 1945 | 1982 | 1980 |
| Vacant homes | 21.6% | 12.3% | 10.1% |
| Population | 61 | 784,841 | 334,922,499 |
What a typical home costs per month in Grace City
At this week's average 30-year rate of 7.11%, buying the median Grace City home of $22,500 with 20% down costs about $151 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $189, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $6,475 for the 20%-down payment. That payment is 3% of the median Grace City household income of $71,250; at that income and 20% down, the 28% guideline points to a home of about $248,000.
| Down payment | $4,500 |
|---|---|
| Loan amount | $18,000 |
| Principal and interest | $121 |
| Property taxes (1.10% a year) | $21 |
| Homeowners insurance (our estimate, 0.5% a year) | $9 |
| PMI | $0 |
| Total per month | $151 |
Change the numbers in the calculator
| Down payment | $788 |
|---|---|
| Loan amount | $22,092 |
| Principal and interest | $149 |
| Property taxes (1.10% a year) | $21 |
| Homeowners insurance (our estimate, 0.5% a year) | $9 |
| FHA mortgage insurance | $10 |
| Total per month | $189 |
Change the numbers in the calculator
Questions about home buying in Grace City
What is the median home value in Grace City?
About $22,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Grace City?
For the median home with 20% down at 7.11%, the payment is about $151 a month. Keeping that under 28% of gross income takes about $6,475 a year.
More about Grace City
- Mortgage Refinance in Grace City
- Debt Relief in Grace City
- Home Equity Loans in Grace City
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data