CALCMONEY // MORTGAGE // ND // FARGO
Calculate your monthly mortgage payment using Fargo-specific property tax rates and local market data.
$295,000
6.95%
1.04%
92
| Principal & Interest | $1,562 |
| Property Tax | $256 |
| Homeowners Insurance (est.) | $98 |
| Total Monthly Payment (PITI) | $1,916 |
$59,000
$326,391
$82,123/yr
The median home price in Fargo is $295,000, below the national median of $420,000. With a median household income of $70,000, the price-to-income ratio is 4.2x — meaning buyers typically spend 4.2 years of gross income on the purchase price.
Property taxes in Fargo run 1.04% of assessed value. On the median home, that is $3,068 per year, or $256 per month added to your mortgage payment. This is close to the national average of 1.1%.
North Dakota has a state income tax. Factor your take-home pay into how much mortgage you can comfortably carry each month.
The cost of living index in Fargo is 92 (national average = 100). Day-to-day expenses beyond housing are close to the national average.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $236,000 loan saves $10,620 in interest over 30 years.
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