Horace, ND

This city of 7,576 residents needs 819 more housing units over the next five years. Horace is part of the Fargo-Moorhead Metropolitan Council of Governments.

Housing snapshot

Population
7,576 (2026)
Households
1,999
Median household income
$140,443 (2026)
Typical home value
$422,614
Owner-occupied
91%
Five-year housing need
819 units

Comparison to other North Dakota municipalities

Horace: $140,443 Median income (2026 estimate)
<$45K >$125K
Horace: 0.37 jobs to household ratio
<0.29 >1.72
Horace: Permits since 2021 represent 86.3% of housing
<0.2% >10%
On this page

How affordable is this community?

The typical home in Horace, ND is valued at $422,614, well above the North Dakota average of $223,702. Horace, ND's median household income of $140,443 comfortably exceeds what is needed to afford the typical home, making this a relatively affordable market.

This chart tracks whether housing prices are keeping pace with local incomes. The gap between what homes cost and what households can afford reveals affordability trends over time.

How is the population changing?

Horace, ND has a population of roughly 4,588 and is one of the faster-growing communities in its state, adding residents at 7.3% per year.

Population growth patterns reveal how communities are evolving. This chart shows historical population changes by age group and projects future trends based on demographic patterns.

How has employment changed over time?

Jobs by industry sector since 2012. Switch between local jobs — counted where the jobs are located — and resident jobs, counted where the workers live. On the local view the most recent year is a nowcast: it grows the latest local LODES job mix forward using recent county employment growth from QCEW and the BLS local employment series, so the newest point tracks today's economy instead of data that is roughly two years old.

How are households changing by income?

Horace, ND is one of the faster-growing communities in North Dakota, adding households at 7.3% per year and totaling roughly 1,999 households.

Understanding how households at different income levels are growing or declining helps identify which groups face the greatest housing pressure and where new housing is most needed.

Who lives here today?

The housing stock in Horace, ND is heavily oriented toward detached single-family, which makes up 92% of units. Horace, ND is a strongly owner-occupied community, with 91% of households owning their home.

Households may have different structure type preferences depending on characteristics such as household size, income, employment, presence of children, age of individuals, and lifestyle choices. Understanding the housing stock in corresponding terms helps assess how well existing units align with existing households' ideals.

What does the housing stock look like?

The mix of housing types and ownership patterns shapes a community's character. This chart breaks down housing units by structure type and whether they're owner-occupied or rented.

How much new housing supply is needed?

To keep up with growth and fill current housing shortages, Horace, ND needs 819 new units over the next 5 years.

803
Units needed to keep up with expected growth
Projected total household growth from 2026 to 2031.
40.2%
Projected household growth rate
Expected increase in total households from 1,999 in 2026 to 2,802 in 2031.
16
Units to address shortages in existing housing stock
Production needs to address vacancy rates and other factors.
9
Replacement housing
Effective annual loss rate is 1.1 per 1,000 units.
7
Rental vacancy adjustment
Rental vacancy is 0.0%. This is below the minimum stable target of 7.4%.
819
Total 5-year housing production need (2026-2031)
164
Annual production pace
Average units needed per year to meet 5-year need
47.9%
Total housing unit growth
Percent increase in housing stock over 5 years
9.6%
Annual housing unit growth
Average percent increase in housing stock per year

How does this place compare to similar communities?