Income needed to buy a house in North Dakota
A median-priced home in North Dakota costs $266,100. With 20% down you'd need about $76,783 a year, within reach of the state's median household income of $77,871. North Dakota ranks #15 of 51 for the lowest income needed.
Income needed: $76,783 a year
Defaults: state median home value and property tax (Census ACS 2024), median homeowners insurance paid by owners with a mortgage (Census ACS 2024; quotes vary by home and ZIP code), 30-year rate 7.24% (Freddie Mac, week of 2026-10-29).
Estimated household income: about $76,783 a year for a $266,100 home in North Dakota with $53,220 down.
Uses a 28/36 planning rule: modeled housing costs at 28% of gross income, housing plus other debt payments at 36%. Mortgage approval depends on the lender, loan program, credit and other circumstances. Excludes maintenance, repairs and utilities.
| Monthly cost | Amount |
|---|---|
| Principal & interest | $1,451 |
| Property tax | $213 |
| Homeowners insurance | $128 |
| Total | $1,792 |
Monthly cost by down payment
| Down payment | Cash down | Monthly cost | Income needed |
|---|---|---|---|
| 5% | $13,305 | $2,169 | $92,955 |
| 10% | $26,610 | $2,073 | $88,832 |
| 20% | $53,220 | $1,792 | $76,783 |
Income benchmarks use the 28/36 planning rule with no HOA or other debt payments. Mortgage approval depends on the lender and loan program. Monthly costs exclude maintenance, repairs and utilities. Under 20% down includes estimated private mortgage insurance of 0.5% of the loan per year.
Buying in North Dakota: what's different
- Transfer tax
- None
- On the median home
- $0
- Homestead break
- $1,600 primary residence credit
- First-time buyer help
- North Dakota Housing Finance Agency
- Transfer and recording taxes. North Dakota has no transfer tax. The buyer certifies the full price paid on the deed, or claims an exemption, when it's recorded.
- Property tax breaks for your home. Every owner-occupant can claim the Primary Residence Credit of up to $1,600 a year, with no age or income limit, after a 2025 law raised it from $500. Apply online with the State Tax Commissioner between January 1 and April 1.
- First-time buyer help. The North Dakota Housing Finance Agency offers FirstHome through participating lenders. Check its site for income and price limits.
Checked against official sources on September 25, 2026. Local transfer taxes and exemptions vary, so confirm with the county before you close.
Home prices in North Dakota's largest metro area
| Metro area | Income needed | Median home value | Median household income |
|---|---|---|---|
| Fargo, ND | $88,154 | $300,200 | $76,945 |
The median home in the Fargo area is worth $300,200, 13% more than the statewide median, and takes about $88,154 a year to buy with 20% down.
Metro medians from Census ACS 2024 cover the whole metro area, including any part in a neighboring state. Income needed: 20% down at 7.24%, the metro's median property tax and its main state's median homeowners insurance for homes with a mortgage (Census ACS 2024), under the 28% rule.
What makes owning in North Dakota less expensive than most states
- Home prices: the median value of $266,100 is 26% below the U.S. median of $360,600.
- Property tax: about 0.96% of value a year ($213 a month on the median home).
- Insurance: owners with a mortgage paid a median $1,540 a year for homeowners insurance in 2024 (Census ACS). Premiums have risen in most states since then, and they vary a lot by home and ZIP code, so get quotes.
- Mortgage rate: each 1-point rise in rates adds roughly $147 a month on this loan.
3 states need at least 20% less income to buy their median home. States with a similar income requirement:
- New Mexico $76,243
- Michigan $74,224
- South Carolina $79,734
- Kansas $73,599
- Pennsylvania $80,370
- Missouri $72,646
Frequently asked questions
How much do you need to make to buy a house in North Dakota?
About $76,783 a year for the median home of $266,100 with 20% down at 7.24%. With 10% down it's about $88,832.
What is the property tax rate in North Dakota?
The median North Dakota homeowner pays $2,550 a year, about 0.96% of the median home value (Census ACS 2024). Rates vary by county and city.
Is it cheaper to rent or buy in North Dakota?
Median rent is $980 a month, while owning the median home costs about $1,792 a month with 20% down, before maintenance. Renting affordably takes about $39,200 a year under the 30% rule.