Market Overview
Home Prices in Velva, ND
The median home value in Velva, ND is $221,041 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 5.6% compared to a year ago and down 2.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Velva are priced46% below average. Velva is part of the Minot, ND metro area.
Over the past five years, Velva home values have risen by approximately1.6%, reflecting modest growth in this market.
Price History
Velva Home Price Trend
2020
$218,207
$218K
—
2021
$217,561
$218K
-0.3%
2022
$229,256
$229K
+5.4%
2023
$220,066
$220K
-4.0%
2024
$213,831
$214K
-2.8%
2025
$209,319
$209K
-2.1%
2026
$221,041
$221K
+5.6%
City Comparison
Velva vs. National Median
🏠 Velva
$221,041
National Median
$410,000
At $221,041, homes in Velva cost 46% below the national median of $410,000. This makes Velva a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Velva?
20% Down Payment
$44,208
on $221,041
Monthly P&I
$1,153/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,464/mo
incl. taxes & insurance
Income Needed
$58,560
gross annual (30% rule)
10% Down Option
$22,104
+ PMI applies
Loan Amount (20% dn)
$176,833
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Velva, ND?
The median home value in Velva is $221,041 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 5.6% year-over-year.
How much have home prices changed in Velva?
Over the past year, home values in Velva have increased by 5.6%. Over five years, prices have risen approximately 1.6%.
How much do I need to earn to buy a home in Velva?
To comfortably afford the median home price of $221,041 with a 20% down payment ($44,208) at today's rates (6.8%), you'd need a gross annual income of approximately $58,560. This assumes keeping total housing costs at or below 30% of gross income.
How does Velva compare to the national average home price?
The national median home value is approximately $410,000. At $221,041, homes in Velva are 46% below the national average.
What metro area is Velva part of?
Velva is part of the Minot, ND metropolitan area. Home prices and market conditions can vary across the broader metro region.