Fargo
North Dakota · Ranked #211 of 373 metros
72Affordable
💡
Housing in Fargo costs 3.94× the median income, below the national average of 4.5×. The median home price is $287K and median rent is $989/month. Fargo ranks #211 of 373 metros for affordability.
Median Home Price
🏠$287K
Need $80K income
Median Rent
🔑$989
Need $40K income
Housing Shortage
📉5,000
units needed
Building Permits
🔨1,492
annual
Median Income
💰$73K
Pop: 258,890
Rent Burden
⚠️26.0%
of renters paying >30%
Price Change (YoY)
📈+4%
Homeownership
🏡55.0%
Rent Burden
vs. National Average
Key Facts vs. National Average
| Metric | Fargo | National |
|---|---|---|
| Price-to-Income Ratio | 3.94x | 6.1x |
| Rent Burden | 26.0% | 31.5% |
| Homeownership Rate | 55.0% | 65.5% |
| YoY Price Change | +4% | +3.5% |
| YoY Rent Change | +3% | +2.8% |
| Mortgage Denial Rate | 10.5% | 13.5% |
| Eviction Rate | 4.0% | 3.6% |
House Price Index (2000–2025)
FHFA All-Transactions HPI
Since 2019: +38.5%Since 2000: +185.9%
HUD Fair Market Rents (FY2026)
Section 8 voucher payment standards
Studio$768/mo
1 Bedroom$917/mo
2 Bedroom$1,112/mo
3 Bedroom$1,547/mo
4 Bedroom$1,865/mo
Zillow Market Data
Home Value (ZHVI)
$317K
1yr: +3.5%5yr: +25.3%
Rent (ZORI)
$1,115/mo
1yr: +3.9%5yr: +26.8%
Note: ZORI reflects current listing prices and may differ from the Census ACS median rent shown above, which captures what renters actually pay including below-market and subsidized units.