Velva, ND Real Estate

According to census data in the year 2000 there were 472 housing units in Velva. This represents a 2.9% decline from 486 in 1990.

Of those housing units, none were located in either urbanized areas or urban clusters, and 472 were located in what is classified as a rural area.

Homeownership rate in Velva is about 76.5%. Velva's vacancy rate, including seasonal lodging, is about 10%. Average household size is 2.29 people.

The majority of houses, apartments or condos in Velva were built after 1957.


Housing Size

Housing Units by Size
Studio Type1.70%
One Bedroom11.20%
Two Bedrooms27.80%
Three Bedrooms41.30%
Four Bedrooms14%
Five Bedrooms or more4%
As % of Housing Units

Owned Homes, Apartments and Condos

Average Household Size2.49
Median year structure was built1953
Median Value of occupied units$47,200
Median Price asked for vacant units$45,000

Rented Homes, Apartments and Condos

Average Household Size1.65
Median year structure was built1973
Median Monthly Rent asked for vacant units$267

Owners Finance Status

Housing Finance
Second Mortgage & Equity Loan0%
Second Mortgage3%
Home Equity Loan2.70%
Simple Mortgage39.50%
Debt Free54.80%
As % of Housing Units
Median part of Monthly Household Income dedicated to covering home ownership costs14%