Cost of Living in Fargo, North Dakota
In Fargo, the median household income is $66,998 and the median gross rent is $946/mo, with a median home value of $281,900. Source: Census Bureau ACS, 2020-2024 estimates.
- Median household income
- $66,998
- Median gross rent
- $946/mo
- Median home value
- $281,900
- Population
- 131,627
How Fargo compares to the North Dakota average
| Measure | Fargo, ND | North Dakota statewide | Difference |
|---|---|---|---|
| Median household income | $66,998 | $76,657 | -12.6% |
| Median gross rent (monthly) | $946 | $954 | -0.8% |
| Median home value | $281,900 | $249,900 | +12.8% |
Statewide, North Dakota prices average 89.0 on the BEA Regional Price Parity index (2024), where the U.S. average is 100.
Housing affordability in Fargo
- Salary needed for median rent
- $37,840
- Rent burden at median income
- 16.9%
- Est. affordable home price
- $244,404
So that $946/mo is 30% of gross income
Share of the median household income spent on median rent (30%+ = cost-burdened)
At median income, 6.67% 30-yr rate (FRED, 2026-08), 20% down, 28% front-end DTI
The median home value in Fargo is $281,900 — +15.3% above what the median household income supports under these assumptions.
Estimates from documented formulas — see methodology. Not financial advice.
About this data
- American Community Survey 5-Year Estimates — data period 2020-2024, retrieved August 13, 2026.
- Regional Price Parities — data period 2024, retrieved August 13, 2026.
- Federal Reserve Economic Data — data period 2026-08, retrieved August 13, 2026.
Figures are shown exactly as published by the source or derived by the documented formulas on our methodology page. Where a source suppresses an estimate, we show “—” rather than a substitute value.