Living in Velva, North Dakota
Cost of living, income, home prices, rent and demographics of Velva · Census data 2020–2024
Velva has 1,083 residents with a median age of 35.4. The median household income is $83,060 (8% higher than the North Dakota median), the median home value is $194,600, the median rent is $769/month.
Velva is a small town, so Census survey estimates have wide margins of error. Treat percentages as approximate.
Velva at a glance
- Population
- 1,083
- Median age
- 35.4State: 35.9
- Median household income
- $83,060State: $76,657
- Median home value
- $194,600State: $249,900
- Median rent
- $769/moState: $954
- Homeowners
- 78.3%
- Bachelor's degree or higher
- 20.5%
- Average commute
- 24 min
Is Velva a good place to live?
Pros: Median household income 8% higher than the North Dakota median; home values 22% lower than the state median; unemployment of 1.6%; a poverty rate of 8.2%.
Cons: An average commute of 24 minutes.
The weather is best in June to September.
Cost of living in Velva
Housing is the biggest part of the cost of living. In Velva the median home value is $194,600, 42% lower than the U.S. median. Renters pay a median of $769 per month, which is 22.1% of household income. Homeowners with a mortgage pay $1,322 a month in housing costs.
Velva median household income
The median household income in Velva is $83,060 and the income per person is $34,768. 8.2% of residents live below the poverty line (North Dakota: 10.8%).
Housing in Velva: homes for sale and rent
- Housing units
- 461
- Owner-occupied
- 78.3%
- Renter-occupied
- 21.7%
- Vacant
- 10.8%Includes seasonal homes
- Median year built
- 1967
- Average household size
- 2.51
Velva demographics
- Population
- 1,083
- Median age
- 35.4
- Under 18
- 29.5%
- 65 and older
- 18.8%
- Households
- 411
- Foreign-born
- 0.3%
- Veterans
- 6.2%Adults 18+
Hispanic or Latino can be of any race. Population history of Velva ›
Education in Velva
20.5% of adults 25 and older in Velva have a bachelor's degree or higher (North Dakota: 32.7%), and 4.9% have a graduate or professional degree.
Jobs and commute in Velva
- Unemployment rate
- 1.6%State: 2.8%
- Average commute
- 24 minState: 18 min
- Work from home
- 1.4%
- Drive alone
- 90.6%
- Public transit
- 0%
- Walk to work
- 2.8%
- Homes with broadband
- 81.8%
Velva vs nearby towns
More for people moving to Velva
Velva ZIP code ›Weather and climate ›Living in Velva: FAQ
What is the median household income in Velva, ND?
The median household income in Velva is $83,060, 8% higher than the North Dakota median of $76,657 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Velva?
The median home value in Velva is $194,600, compared with $249,900 in North Dakota.
How much is rent in Velva?
The median gross rent in Velva is $769 per month, about 22.1% of household income.
Is Velva, ND a good place to live?
Pluses: median household income 8% higher than the North Dakota median; home values 22% lower than the state median; unemployment of 1.6%; a poverty rate of 8.2%. Minuses: an average commute of 24 minutes.
What is the median age in Velva?
The median age in Velva is 35.4 years (North Dakota: 35.9).
How long is the commute in Velva?
The average commute to work in Velva is 24 minutes; 1.4% of workers work from home.
What is the unemployment rate in Velva?
The unemployment rate in Velva is 1.6% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Velva?
20.5% of adults in Velva have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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