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.