Fargo, ND—58102
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Fargo, ND
As of Oct '25, the median home price in Fargo, ND is $263,000, with a year-over-year change of 4.0%. This indicates that home prices in Fargo, ND are increasing. According to Zillow, the 1-year price projection is -0.1%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $263,000 | 4.0% |
| Single Family | $270,000 | 4.2% |
| Condos | $154,000 | 4.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $185,000 | 3.9% |
3 Bed | $258,000 | 4.0% |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Fargo, ND
As of July '25, Rentcast reports the average rent in Fargo, ND is $1,200, with a year-over-year rent change of 16.5%. Per bedroom, the median rent as of July '25 in Fargo, ND is studios: $878, 1-bedrooms: $913, 2-bedrooms: $1,200, 3-bedrooms: $1,570, 4-bedrooms: $2,040. The most common rental property sizes in Fargo, ND are 2-bedroom and 1-bedroom, accounting for 34.2% and 32.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,200 |
| Studio Rent | $955 | $878 |
| 1 Bed Rent | $815 | $913 |
| 2 Bed Rent | $1,260 | $1,200 |
| 3 Bed Rent | $1,580 | $1,570 |
| 4 Bed Rent | $1,900 | $2,040 |
% of Rental Stock
Property Listings — Fargo, ND
As of Oct '25, Realtor.com reports that the median days on market for a home in Fargo, ND is 75. This is a increase of 29.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 30.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $310,000 | -4.0% |
Listing Count | 173 | 27.0% |
| Listings as % of Homes | 0.5% | 27.0% |
Days on Market | 75 | 29.0% |
Demographics — Fargo, ND
As of the latest ACS Survey released in 2023, Fargo, ND has a population of 32,600, which has increased by 9.0% over the past 5 years. Fargo, ND is a moderately popular place for families, as children make up 16.1% of the population. The area has a highly educated workforce, with 45.5% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.2% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 32,600 | 9.0% |
% Under 18 | 16.1% | -1.8% |
% Seniors | 11.6% | -4.1% |
% WFH | 6.2% | 129.6% |
% w/ College Degree | 45.5% | 8.3% |
As of the latest ACS Survey released in 2023, Fargo, ND is a predominantly white area, with 84.3% of the population identifying as white. The white population has shrunk by 2.5% in the last 5 years. The second most common race or ethnicity in Fargo, ND is hispanic, making up 5.4% of the population. Foreign-born residents account for 3.9% of the population in Fargo, ND, and this percentage has decreased by 32.8% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 84.3% | -2.5% |
% Black | 3.9% | 18.2% |
% Hispanic | 5.4% | 125.0% |
% Asian | 2.9% | -12.1% |
% Foreign Born | 3.9% | -32.8% |
Mortgage and Risk — Fargo, ND
According to HUD data as of 2023, there were 451 mortgage originations in Fargo, ND, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 29.0% above 90% LTV (very high). This implies large mortgage risk in Fargo, ND. Investor activity is low, as 6.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 451 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 6.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Fargo, ND
As of 2024, the percent of homes in Fargo, ND under the Section 8 program is 8.1%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Fargo, ND, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 808 |
Total Units Section 8 | 667 |
% Rentals under Section 8 | 8.1% |
% Occupied Section 8 | 78.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$45 | $815 | $770 |
| 2 Bedroom | -$330 | $1,260 | $930 |
| 3 Bedroom | -$270 | $1,580 | $1,310 |
| 4 Bedroom | -$320 | $1,900 | $1,580 |
Affordability — Fargo, ND
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $263,000 |
| Median Household Income | $56,000 |