Similar to the surrounding areas, it's a little less expensive compared to the rest of the nation. It is a bit less expensive compared to the city of Bismarck.
Home prices
Velva's median home price is $170,100. Compared to other places in this area this is about $8,080 (4%) lower.In comparison to the country as a whole it is roughly $47,400 (21%) lower, and compared to the city of Bismarck it is approximately $75,200 (30%) lower.
Rents
In Velva the median monthly rent is $542. In comparison to its nearby areas it is about $521 (48%) lower.It is roughly $520 (48%) lower in comparison to the US as a whole, and in comparison to the city of Bismarck it is roughly $325 (37%) lower.
Nearby places
Sawyer
Sawyer is about 5 miles west of Velva. The housing prices there are a bit less expensive. The median home price in Sawyer is $157,700, which comes out to $12,400 (7%) lower than Velva. Its rents are significantly more expensive. In Sawyer the median monthly rent is $950, which works out to $408 (42%) higher than Velva.
Granville
Granville is approximately 12 miles north of Velva. Its housing prices are significantly less expensive. The cost of the median home in Granville is $104,400, which comes out to $65,700 (62%) lower than Velva. Its rents are a lot more expensive. In Granville the median monthly rent is $909, which works out to $367 (40%) higher than Velva.
Surrey
Surrey is roughly 13 miles northwest of Velva. Real estate prices there are a little more expensive. Surrey's median home value is $232,000, which is $61,900 (26%) higher than Velva. Rents there are significantly more expensive. Surrey's median monthly rent is $1,542, which works out to $1,000 (64%) higher than Velva.
Minot
Minot is roughly 17 miles northwest from Velva. Its housing prices are a bit more expensive. Minot's median home cost is $208,700, which works out to $38,600 (18%) higher than Velva. Rents there are significantly more expensive. The median rent in Minot is $918 per month, which comes out to $376 (40%) higher than Velva.
Burlington
Burlington is approximately 22 miles northwest from Velva. Its real estate prices are a bit more expensive. The median home in Burlington costs $188,100, which comes out to $18,000 (9%) higher than Velva. Its rents are a lot more expensive. Burlington's median rent is $994 per month, which comes out to $452 (45%) higher than Velva.
