Buying In Minot, ND
Sell Your Commercial Property In Minot, ND
From Downtown Minot to North Hill, we buy Minot multifamily and commercial apartment properties of 5+ units in every condition. Owners and agents get a straight answer on fit, usually within two business days.
- Clear feedback on your deal, typically within 48 hours
- 5 to 100+ units, stabilized or distressed, listed or off-market
- Owners, agents, and brokers welcome — every conversation is confidential
We buy:Tired landlordsEstate & trust sales1031 exchangesDeferred maintenanceHigh vacancyPartnership splits
Where We Look: Downtown Minot · South Hill · North Hill · Burlington — Ward County, ND
Local Demand
Our View On Minot
Minot holds 82.0% of Ward County's renter households, per Census ACS 2020-2024 estimates. Renters occupy 43.3% of Minot's homes, and rental vacancy is 5.0%. Median gross rent is $973 a month, while HUD's FY2027 two-bedroom fair market rent is $1,049.
An owner who wants to sell commercial property in Minot, ND is selling into a market tied to Minot Air Force Base. The base supports 12,825 people, the largest figure in the city's employer table. Buildings of five or more units hold 27.9% of Minot's housing stock. Eight multifamily buildings changed hands in Minot during 2025, at a mean price of $6,856,000.
This profile covers who rents, rents against HUD benchmarks and the age of the apartment stock. It then works through Ward County tax math on a $2,000,000 building and the state rules on deposits and notices. We buy 5+ unit buildings in Downtown Minot, South Hill, North Hill and Burlington, from small walk-ups to larger complexes.
Minot Air Force Base
Minot AFB supports 12,825 people, including 5,480 military members and 999 civilians, per its official fact sheet. The base lies in Ward County, outside Minot city limits.Energy and rail employers
Hess employed 419 people and BNSF Railway 330 in 2024, ranking seventh and eighth among Minot employers in the City of Minot FY2024 financial report.Minot State University
Minot State reported 2,627 students on the first day of fall 2025, including 415 new freshmen, its largest first-day freshman class in 14 years. It employed 422 people in 2024.Our Buy Box
What We Buy In Minot
Asset Type
Multifamily, 5+ Units
Apartment buildings and income-producing residential.
Size
5 – 100+ Units
Sweet spot: 15–25 units.
Condition
Stabilized To Distressed
Value-add, mismanaged, and high-vacancy properties welcome.
Deal Types
Listed Or Off-Market
Direct-to-owner, pocket listings, portfolios.
Local Market Data
Minot Apartment Market
Figures gathered October 2026 from public market data.
Who rents in Minot
Renters occupy 43.3% of Minot's 21,202 occupied homes, or 9,182 households, in Census ACS 2020-2024 tenure estimates. Ward County's renter share is 39.2%, and North Dakota's is 37.1%. Minot holds 82.0% of Ward County's renter households.
Minot had 47,791 residents in ACS 2020-2024, against 68,973 in Ward County. Minot's median household income was $73,219, per Census table B19013. That trails Ward County's $78,238 and North Dakota's $76,657.
Minot Air Force Base supports 12,825 people, equal to 54.27% of city employment, in the City of Minot FY2024 annual comprehensive financial report. The base sits in Ward County outside Minot city limits, and the Census counts it as a separate place.
Rents and affordability in Minot
Minot's median gross rent was $973 a month in ACS 2020-2024, per Census table B25064. Ward County's median was $1,048, and North Dakota's was $954. Twelve months of median rent equal 15.9% of Minot's median household income.
Some 36.2% of Minot renters, or 3,323 households, paid 30% or more of income for rent, per Census table B25070. The share paying half or more was 18.2%. Statewide, 36.3% of renters paid 30% or more.
Under HUD's FY2027 fair market rents, effective October 1, 2026, a two-bedroom in the Ward County, ND HUD Metro FMR Area is $1,049. That is $76, or 7.8%, above Minot's all-unit median rent. The schedule from HUD's fair market rent documentation follows.
| Unit size | HUD FY2027 FMR, Ward County |
|---|---|
| Studio | $726 |
| 1 bedroom | $864 |
| 2 bedroom | $1,049 |
| 3 bedroom | $1,458 |
| 4 bedroom | $1,759 |
The one-bedroom benchmark of $864 sits $109 below the all-unit median. The base's FY2023 economic impact analysis counted 3,570 active-duty members and 2,787 dependents living off base.
Minot's apartment stock
Buildings with five or more units hold 6,690 of Minot's 23,956 housing units, or 27.9%, per Census table B25024. Ward County's share is 21.3%, and Minot holds 96.5% of the county's units in such buildings. Minot counts 1,115 units in 5-9 unit buildings, 1,277 in 10-19, 2,846 in 20-49 and 1,452 in 50-plus.
Minot's median year built is 1983, per Census table B25034, against 1984 countywide and 1982 statewide. Units built before 1980 make up 46.4% of Minot's stock. Another 6,008 units, or 25.1%, date from 2010 or later.
Rental vacancy in Minot was 5.0% in ACS 2020-2024, per Census profile table DP04. Ward County's rate was 5.8%, and North Dakota's was 8.3%. Owners who sell multifamily property in Minot face the tightest of those three rental markets.
The Minot assessor valued taxable apartments at $561,521,000 for 2026, up 9.3% from 2025, in the City of Minot 2026 annual assessment report. That roll covers 6,205 units in complexes larger than a fourplex and 896 fourplex units. Eight multifamily buildings sold in 2025 at a mean price of $6,856,000.
Property taxes in Ward County
A $2,000,000 apartment building inside Minot carries an estimated tax of $32,038 at the 2025 levy of 320.38 mills. N.D.C.C. 57-02-01 leaves structures with four or more family units out of the residential class, so they are taxed as commercial. Section 57-02-01(3) sets assessed value at 50% of true and full value, and section 57-02-27 sets commercial taxable value at 10% of that.
Minot's 320.38-mill total, including 78.00 city mills, comes from the 2025 levy comparison in the assessor's 2026 report. School levies took 42.45% of an average 2025 Minot tax bill, the city 24.34% and Ward County 17.85%.
- True and full value: $2,000,000
- Assessed value at 50%: $1,000,000
- Commercial taxable value at 10% of assessed: $100,000
- Tax at 320.38 mills: $100,000 x 0.32038 = $32,038
- With the 5% early-payment discount: $30,436.10
That $32,038 equals 1.60% of value, matching the commercial effective rate the assessor lists for Minot. Ward County's treasurer allows 5% off when a year's real estate tax is paid in full by February 15, under N.D.C.C. 57-20-09. Taxes come due January 1, and the first installment turns delinquent after March 1 under section 57-20-01.
Minot's 2025 commercial assessments ran 11.4% below selling prices in the state sales ratio study, so the assessor raised total commercial value 5.09% for 2026. The median assessed value of complexes larger than a fourplex rose 6.70%. Valuation notices go out in March, and the City Board of Equalization met on April 7, 2026. Before you sell commercial property in Minot, ND, compare the parcel's 2026 notice with that 6.70% multifamily change.
Landlord rules in Minot
North Dakota caps most security deposits at one month's rent under N.D.C.C. 47-16-07.1. A lessor may take up to two months from a tenant with a felony conviction or a prior rental-agreement judgment. Pet deposits may reach the greater of $2,500 or two months' rent.
Deposits must sit in a federally insured interest-bearing account for the tenant. Owners have 30 days after the lease ends and the tenant gives up possession to deliver an itemized statement. Money withheld without reasonable justification exposes the owner to treble damages.
Owners who sell commercial real estate in Minot, ND must pass each tenant deposit and its accrued interest to the buyer under that section. The seller stays liable until the transfer happens.
Rent unpaid three days after it is due supports an eviction action under N.D.C.C. 47-32-01. Section 47-32-02 requires three days' written notice of intention to evict before filing. Month-to-month tenancies end on at least one calendar month's written notice under section 47-16-15. Section 47-16-02.1 bars any political subdivision from enacting an ordinance that controls rent on private residential or commercial property.
What it means for a Minot owner
A Minot apartment building sells into 5.0% rental vacancy, a 1.60% commercial effective tax rate and no transfer tax. Article X, Section 27 of the North Dakota Constitution bars state and local taxes on the transfer of real property. Demand leans on the base, which the Minot AFB fact sheet credits with 5,480 military members and 999 civilians.
Minot State University reported 2,627 students on the first day of fall 2025, including 415 new freshmen, per its August 2025 enrollment release. Hess, with 419 employees, and BNSF Railway, with 330, add energy and rail payrolls in the city's 2024 top ten.
If you plan to sell commercial property in Minot, ND, start with a trailing rent roll, the deposit ledger and the 2026 assessment notice. Then test your price in our cap rate calculator with a tax line scaled from the $32,038 example.
Skyline Capital Investments buys buildings of five or more units in Downtown Minot, South Hill, North Hill and Burlington. To sell your apartment building in Minot, request an offer for your building.
Seller Notes
Selling In Minot
More about selling in North Dakota →Investing in Minot? See apartment syndications in Minot →
- Buildings with four or more family units fall outside North Dakota's residential class, so Minot apartments are taxed as commercial on 5% of market value.
- Minot's 2025 levy is 320.38 mills, below the 343.11 mills in Grand Forks but well above the 237.10 mills in Bismarck.
- Owners who sell multifamily property in Minot must hand tenant deposits and accrued interest to the buyer, or stay liable for them under N.D.C.C. 47-16-07.1.
- Before you sell commercial real estate in Minot, ND, pull the 2026 notice: complexes larger than a fourplex saw a 6.70% median assessed value increase.
Seller Guides
Selling In Minot? Common Situations We Handle
Learn More
Taxes & Rules For Minot Property
The North Dakota rules that shape any deal in Minot: what a sale costs in tax, how buildings are taxed, what landlords must follow, and how to defer gains.
Minot Seller FAQ
How do I sell commercial property in Minot, ND?
Gather a trailing twelve-month rent roll, operating statements, the deposit ledger and the 2026 assessment notice. Buildings with four or more family units are taxed as commercial property, and Minot's 2025 levy is 320.38 mills. North Dakota has no transfer tax on real property. Skyline Capital Investments buys 5+ unit buildings in Downtown Minot, South Hill, North Hill and Burlington.
What is the property tax on a $2 million apartment building in Minot?
Commercial taxable value is 5% of market value, so a $2,000,000 building has a $100,000 taxable value. At the 2025 Minot levy of 320.38 mills, the tax is $32,038 before special assessments. Paying the full year's tax by February 15 earns a 5% discount, bringing it to $30,436.10. That works out to a 1.60% effective rate.
Does Minot have rent control?
No. N.D.C.C. 47-16-02.1 bars any political subdivision from enacting or enforcing an ordinance that controls rent on private residential or commercial property. State law sets the main tenant rules instead: a one-month deposit cap for most tenants, a 30-day deposit accounting deadline, three days' notice before an eviction filing for nonpayment, and one calendar month's notice to end a month-to-month tenancy.
What should I know before I sell commercial real estate in Minot, ND?
Start with deposits, because every tenant deposit and its interest must move to the buyer and the seller stays liable until it does. Then review the 2026 assessment, since the assessor raised commercial values 5.09% after finding 2025 assessments 11.4% below sale prices. Finally, price against the 8 multifamily sales recorded in 2025, which had a mean price of $6,856,000.
How does Minot Air Force Base affect apartment demand in Minot?
The base supports 12,825 people, equal to 54.27% of city employment in the City of Minot FY2024 financial report. Its FY2023 economic impact analysis counted 3,570 active-duty members and 2,787 dependents living off base. Anyone selling commercial property in Minot should expect buyers to study that base-driven demand alongside the 5.0% rental vacancy rate.
Do I need to fix up my Minot building before selling?
No. We price in deferred maintenance, vacancy, and below-market rents ourselves, so you can sell the property as it stands.
Do you work with Minot brokers and agents?
We do. Agents can bring us listed or pocket-listing deals in Minot, and we keep every conversation confidential.
Can I sell rental property in Minot with tenants in place?
Yes. We buy apartment buildings with tenants in place and keep existing leases intact. As a commercial real estate buyer focused on 5+ unit properties, we underwrite the current rent roll as it stands.
How fast can I sell my apartment building in Minot?
Most owners get clear feedback within 48 hours of sending the address, unit count, and a rent roll. Closing is typically set around your timeline, including extra time for a 1031 exchange.
Submit A Deal
Tell Us About Your Property In Minot
A few details are enough to start. We respond to every Minot submission, including off-market and pocket listings.
