North Dakota · Population 129,064 · Updated March 2026
How far your income goes in Fargo
State-level tax rates that affect your costs
Fargo is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 73 (where 100 equals the national median), Fargo residents can expect to pay median rent of $916/month while earning a median household income of $66,029/year.
The median home value in Fargo, ND is $269,800, with typical monthly owner costs around $997 including mortgage, insurance, and taxes. The median rent-to-income ratio of 16.6% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.
North Dakota has a moderate income tax rate of 2.5%. Combined with a 5.0% sales tax rate and 0.98% effective property tax rate, the overall tax environment is a factor in the total cost of living in Fargo.
Common questions about living costs in Fargo