Minot, ND

Very Low · 73

North Dakota · Population 47,922 · Updated March 2026

$928
Median Rent / Month
$77,431
Median Income
$254,400
Median Home Value
$1,037
Owner Costs / Month

Affordability

How far your income goes in Minot

14.4%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in North Dakota

State-level tax rates that affect your costs

2.5%
Income Tax (Top Rate)
5.0%
Sales Tax
0.98%
Property Tax Rate

Estimated Annual Costs

$11,136
Annual Rent
$1,936
State Income Tax
$2,493
Property Tax (est.)

Cost of Living Overview

Minot 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), Minot residents can expect to pay median rent of $928/month while earning a median household income of $77,431/year.

The median home value in Minot, ND is $254,400, with typical monthly owner costs around $1,037 including mortgage, insurance, and taxes. The median rent-to-income ratio of 14.4% 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 Minot.

Frequently Asked Questions

Common questions about living costs in Minot

What is the cost of living in Minot, ND?
The cost of living index in Minot, ND is 73 (US average = 100). Median monthly rent is $928, median household income is $77,431/year, and the median home value is $254,400.
Is Minot, ND affordable?
Yes, Minot is more affordable than the national average with a cost index of 73. The rent-to-income ratio is 14.4%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Minot, ND?
The median gross rent in Minot, ND is $928 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $11,136.
What is the median household income in Minot?
The median household income in Minot, ND is $77,431 per year. This compares to the national median of approximately $80,000.
What are the taxes like in North Dakota?
North Dakota has a top income tax rate of 2.5%, a sales tax of 5.0%, and an effective property tax rate of 0.98%.