There were 576 households out of which 32.8% had children under the age of 18 living with them, 54.5% were married couples living together, 7.6% had a female householder with no husband present, and 34.5% were non-families. 30.7% of all households were made up of individuals and 16.3% had someone living alone who was 65 years of age or older. The average household size was 2.42 and the average family size was 3.06.
In the city the population was spread out with 27.6% under the age of 18, 5.4% from 18 to 24, 27.4% from 25 to 44, 19.4% from 45 to 64, and 20.2% who were 65 years of age or older. The median age was 39 years. For every 100 females there were 91.8 males. For every 100 females age 18 and over, there were 90.5 males.
Unlike many of small towns in North Dakota, Larimore has maintained a relatively stable population for the last forty years. Its close proximity to employment opportunities in Grand Forks and at the Grand Forks Air Force Base have led the town to become an attractive choice for commuters desiring lower housing costs and a small-town environment. Although new housing construction has been fairly stagnant during the last fifteen years, a number of new homes have been built throughout the town in the last several years where lots have been available. A larger number of homes have been constructed outside of the city near Larimore Dam and along the Turtle River, north and east of the town. Many of these homes are far larger and more expensive than those being built within the city limits.
In rural Larimore, population density is higher east of the town than towards the west. Although the area has lost farming households throughout many decades, many farms have been turned into horse ranches, hobby farms, or simply homesteads for commuters who wish to have more area than they would otherwise have in town.
Although Larimore has maintained its residential base, it has faced more difficult challenges in regards to its commercial establishments. Like numerous small communities throughout the Great Plains, the 1980s were a devastating time for local main street businesses. Downturns in the farm economy and increased shopping options in larger, nearby cities such as Grand Forks, led to many store closures in Larimore that included everything from a farm implement dealer to a grocery store. The business district has since "bottomed out" and many of the once abandoned buildings have either been renovated for other uses or demolished and replaced with new structures. Abandoned lots and empty, deteriorating buildings still dot much of the downtown area of Larimore.
The median income for a household in the city was $33,292, and the median income for a family was $40,542. Males had a median income of $29,375 versus $20,417 for females. The per capita income for the city was $16,271. About 6.1% of families and 7.4% of the population were below the poverty line, including 8.6% of those under age 18 and 10.7% of those age 65 or over.