Fargo, ND
Cass County · Pop. 129,507
Ranked #45 of 243 cities
54Moderate
Median Home Price
🏠$260K
2.0% YoY
Median Rent
🔑$1,050
1.5% YoY
Median Income
💰$55K
Rent Burden
📊27.0%
% of income to rent
Income to Buy
🏦$75K
annual income needed
Income to Rent
📝$42K
annual income needed
Price-to-Income
⚖️4.7x
Homeownership
🏡42.0%
Rent vs. Buy
Buy
$1,384/mo
Est. mortgage (7%, 20% down)
Need $75K/yr income
Rent
$1,050/mo
Median rent
Need $42K/yr income
How Fargo Compares
| Metric | Fargo | North Dakota | National |
|---|---|---|---|
| Home Price | $260K | $247K | $410K |
| Rent | $1,050 | $916 | $1,500 |
| Income | $55K | $77K | $75K |
| Rent Burden | 27.0% | 25.5% | 30.0% |
Key Takeaways
- • Home prices in Fargo are 37% lower than the national average.
- • Rent is 30% lower than the national average.
- • You need an income of $75K to comfortably buy a home here.
- • The homeownership rate is 42.0%, compared to 65.0% nationally.