Fargo, ND—58104
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 $394,000, with a year-over-year change of 1.8%. This indicates that home prices in Fargo, ND are increasing. According to Zillow, the 1-year price projection is 0.0%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $394,000 | 1.8% |
| Single Family | $398,000 | 1.8% |
| Condos | $303,000 | 4.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | N/A | N/A |
3 Bed | $323,000 | 0.9% |
4 Bed | $397,000 | 1.3% |
| 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 $1,490, with a year-over-year rent change of -8.0%. Per bedroom, the median rent as of July '25 in Fargo, ND is studios: $990, 1-bedrooms: $1,040, 2-bedrooms: $1,310, 3-bedrooms: $2,010, 4-bedrooms: $2,440. The most common rental property sizes in Fargo, ND are 2-bedroom and 1-bedroom, accounting for 55.0% and 24.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,220 | $1,490 |
| Studio Rent | $990 | $990 |
| 1 Bed Rent | $1,020 | $1,040 |
| 2 Bed Rent | $1,320 | $1,310 |
| 3 Bed Rent | $1,900 | $2,010 |
| 4 Bed Rent | $2,400 | $2,440 |
% 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 52. This is a decrease of -11.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 23.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $445,000 | -6.0% |
Listing Count | 274 | 5.0% |
| Listings as % of Homes | 0.6% | 5.0% |
Days on Market | 52 | -11.0% |
Demographics — Fargo, ND
As of the latest ACS Survey released in 2023, Fargo, ND has a population of 47,500, which has increased by 16.3% over the past 5 years. Fargo, ND is a moderately popular place for families, as children make up 22.6% of the population. The area has a highly educated workforce, with 48.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 10.3% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 47,500 | 16.3% |
% Under 18 | 22.6% | -4.2% |
% Seniors | 12.9% | 30.3% |
% WFH | 10.3% | 194.3% |
% w/ College Degree | 48.9% | 1.9% |
As of the latest ACS Survey released in 2023, Fargo, ND is a predominantly white area, with 82.7% of the population identifying as white. The white population has shrunk by 7.8% in the last 5 years. The second most common race or ethnicity in Fargo, ND is black, making up 7.1% of the population. Foreign-born residents account for 8.6% of the population in Fargo, ND, and this percentage has increased by 62.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 82.7% | -7.8% |
% Black | 7.1% | 108.8% |
% Hispanic | 2.3% | 43.8% |
% Asian | 3.8% | 52.0% |
% Foreign Born | 8.6% | 62.3% |
Mortgage and Risk — Fargo, ND
According to HUD data as of 2023, there were 863 mortgage originations in Fargo, ND, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 63.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Fargo, ND. Investor activity is low, as 2.0% 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 | 863 |
% Conventional Loans | 85.0% |
% Government Loans | 15.0% |
% Investor Loans | 2.0% |
% 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 5.6%. 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 | 704 |
Total Units Section 8 | 646 |
% Rentals under Section 8 | 5.6% |
% Occupied Section 8 | 78.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$50 | $1,020 | $970 |
| 2 Bedroom | -$150 | $1,320 | $1,170 |
| 3 Bedroom | -$260 | $1,900 | $1,640 |
| 4 Bedroom | -$440 | $2,400 | $1,960 |
Affordability — Fargo, ND
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.4 |
| Median Home Price | $394,000 |
| Median Household Income | $85,000 |