Housing in Nora

A typical Nora home is worth roughly $227,000

Home prices around Nora have risen about 49% over the past 5 years.

Typical home value

$227K

▲ 8.1% in a year · MN $351K

Estimate

2-bedroom rent

$1,010

a month, utilities in · HUD

Median tax bill

$1,428

MN $3,357

What kind of housing town is Nora?

Read from the numbers below. The page puts what stands out first.

Prices climbing fastUp 8.1% in a year.Your money goes further35% below the Minnesota typical home.A town of owners89% of households own their home.

★ What stands out · Price trend

Home prices up 49% in 5 years

The federal house price index for the ZIP codes around Nora rose 49% over the past 5 years, faster than across Minnesota (37%). Last year prices rose 8.1%.

Nora areaMinnesota

+8.1%

past year

+49%

past 5 years

+71%

past 10 years

Federal Housing Finance Agency House Price Index (annual) for the ZIP codes around Nora, weighted by land area. It tracks repeat sales of the same homes, so it shows how prices changed, not what homes cost.

Affordability

What it takes to buy in Nora

Try your own numbers below.

You could afford about

$341,000

Typical Nora home $227K

That covers a typical Nora home, with $114K to spare.

The typical home, each month

$1,380

Loan $1,130Tax $190Insurance $70

A two-bedroom rents for about $1,010 a month here, $370 less than owning.

Where your budget reaches nearby

Copley$188K

An estimate, not a loan offer: payments of up to 28% of income, a 30-year fixed loan, the Minnesota typical property tax (1.02% of value a year, from the Census) and insurance of about 0.35%. Mortgage insurance, HOA fees and other debts aren’t included.

The homes

89% of Nora households own their home

Half of Nora’s homes were built before 1984.

Owners and renters

Own 89%Rent 11%

Minnesota: 72% own.

1984

typical home built · MN 1979

$1,428

median property tax bill · MN $3,357

14%

of homes are seasonal or vacation homes

U.S. Census Bureau, American Community Survey 2020-2024 · figures for a place this size carry wide margins of error.

Renting

A two-bedroom rents for about $1,010

Renters already here pay a median of $855, so moving in tends to cost more than staying put.

Fair Market Rent a month, utilities included

Studio$700

1 bedroom$810

2 bedrooms$1,010

3 bedrooms$1,250

4 bedrooms$1,700

11%

of households rent · MN 28%

renter households

$855

median rent paid today · Census

U.S. Department of Housing and Urban Development, Fair Market Rents by ZIP code (Grand Forks, ND-MN MSA): the 40th-percentile rent plus utilities for a standard unit. Median rent and renters: U.S. Census Bureau, American Community Survey.

Next door

Nora vs. its neighbors

The towns that share a border with Nora. Tap one to see its housing page.

Nora$227K Copley$188K

Compare more

Town	Typical value	1-yr change	2-bed rent	New homes 2014	Median income
Nora	$227K*	+8.1%†	$1,010	—	$68,000
Falk	—	+8.1%†	$1,010	—	$58,750
Minerva	—	+8.1%†	$1,070	—	$64,375
Copley	$188K*	+8.1%†	$1,010	2	$72,292

Typical value: Zillow Home Value Index; * Census median home value where Zillow has none. † FHFA price index change where Zillow has none. Rent: HUD Fair Market Rent. New homes: Census building permits.

Neighbors talk housing

What Nora buyers, sellers and renters are saying.

Town Square →

Weigh in

Is Nora still affordable for young families?

Your answer becomes a post in Town Square.

Start the conversation

Home values: Zillow Home Value Index (ZHVI), Zillow Research. Sales, days on market and supply: Redfin Data Center. Income, ownership, taxes and rent: U.S. Census Bureau, American Community Survey. Price trend: Federal Housing Finance Agency House Price Index. Fair Market Rents: U.S. Department of Housing and Urban Development. Listings link to their publishers. The calculator is an estimate, not a loan offer.