The typical home in Fargo, ND is worth about $325,000.
With 20% down that's a loan near $260,000 — the calculator
is pre-filled with that figure. Fargo has grown steadily on the strength of Microsoft's large regional campus and a diversified agribusiness sector, keeping the local job market more resilient than most of the rural Great Plains. North Dakota's state homestead credit for older and disabled owners softens the near-average property tax bill for many longtime residents.
$1,688.08 / month
Total interest
$347,713
Total paid
$607,713
Payoff
30.0 years
How much you need to earn
Fargo, ND's median household income is about
$78,000 a year. Under standard 28/36
lending rules that supports a home price around
$274,083 with 20% down —
below the $325,000 typical price, so many buyers need a larger down payment, a co-borrower, or a longer commute.
Typical asking rent in Fargo, ND is about $1,250 a month, so owning the median home costs roughly
$901 more per month before tax
effects, maintenance, and any change in home value.
Frequently asked questions
What is a typical mortgage payment in Fargo, ND?
On the metro's roughly $325,000 typical home with 20% down, the loan is about $260,000. Principal and interest run near $1,688 a month at today's rate, and Fargo, ND's property tax plus insurance add about $463, for a full payment near $2,151.
Can I afford a home in Fargo, ND on the median income?
The median household income is about $78,000 a year. Under standard 28/36 lending rules that supports a home price around $274,083 with 20% down — below the $325,000 typical price, so buyers often need a larger down payment or a co-borrower.
Is it cheaper to rent or buy in Fargo, ND?
Typical asking rent is about $1,250 a month. The full owner payment on a median home is near $2,151, so owning costs roughly $901 more per month before tax effects, maintenance, and any appreciation.
How much are property taxes in Fargo, ND?
The effective property tax rate in the core county is about 1.00% of market value — roughly $3,250 a year on the typical home. Your exact rate depends on the municipality and any exemptions.
Are home prices in Fargo, ND rising or falling?
Home values are up about 4% over the past year. Fargo has grown steadily on the strength of Microsoft's large regional campus and a diversified agribusiness sector, keeping the local job market more resilient than most of the rural Great Plains. North Dakota's state homestead credit for older and disabled owners softens the near-average property tax bill for many longtime residents.