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Buying a home in Fargo, North Dakota

In Fargo, the median value of owner-occupied homes is $323,100, Cass County's effective property tax rate is 1.2%, a purchase mortgage carried a median $5,634 in total loan costs in 2025, and median gross rent is $946 a month.

Data as of : Census ACS 2025 1-year, Census Vintage 2024, FHFA HPI 2026Q2, Census ACS 2020-2024, HMDA 2025, HUD FY 2027. Sources

Checked on against the official sources listed at the bottom of the page.

Fargo home costs, fact by fact

Calculate for Fargo

If you buy

North Dakota state transfer tax

North Dakota has no real estate transfer tax. Change the price: the amount is recalculated instantly.

Price$323,100
State transfer tax$0
Share of the price—

Default price: the Fargo median value of owner-occupied homes, $323,100 (Census ACS 2025). Rule: No tax is calculated on the price. Recording fees depend on page count. Who pays: No transfer tax. The statute does not say whether buyer or seller bears the recording fee; the purchase agreement and closing statement decide. Not included: county and city transfer taxes, recording fees, title insurance and lender charges. North Dakota transfer tax guide · all 50 states.

If you sell

Capital gain and the federal tax on it

Same federal rule in every state: Section 121 of the Internal Revenue Code excludes up to $250,000 of gain on a main home ($500,000 for a married couple filing jointly).

Capital gain$350,000
Section 121 exclusion$250,000 (limit $250,000)
Taxable gain$100,000
Type of gainLong-term (owned over 1 year), 15% chosen
Federal tax on the gain$15,000

Section 121 excludes $250,000; the rest is taxable.

Gain = sale price minus your adjusted basis (purchase price, buying costs and improvements); selling expenses reduce it (IRS Publication 523). Long-term rates for sales in 2026, by taxable income including the gain (IRS Rev. Proc. 2025-32, section 4.03): 0% up to $49,450 single or $98,900 married filing jointly, 15% up to $545,500 single or $613,700 jointly, 20% above. Not included: North Dakota state income tax on the gain (not computed), the net investment income tax, depreciation recapture on a rental or home office, and the reduced exclusion for an early sale. Agent commissions are negotiated and never set by law. Capital gains on a home sale.

In short

The median value of owner-occupied homes in the city of Fargo is $323,100, according to the Census Bureau’s 2025 American Community Survey. FHFA’s index for the Fargo, ND-MN metro area shows prices up 4.2% between the second quarters of 2025 and 2026. Before you buy, check the floodplain: the City of Fargo links a map search by address and lists a contact for current floodplain information.

How much homes cost in Fargo

The Census Bureau’s American Community Survey (ACS) asks owners how much they think their home would sell for. The median of those answers is a useful benchmark, but it is not a sale price: it covers every owner-occupied home, including homes bought long ago. Our page on North Dakota home prices explains the method in detail.

AreaMedian value, 2025 (ACS)Margin of error (90%)
City of Fargo$323,100±$11,909
Cass County$341,600±$11,887
Fargo, ND-MN metro area$329,400±$9,381
North Dakota$281,700±$6,105
United States$371,100±$646

*Source: U.S. Census Bureau, ACS 1-Year Estimates 2025, table B25077.

Are Fargo prices rising?

The Federal Housing Finance Agency (FHFA) tracks repeat sales of the same single-family homes. FHFA does not publish a purchase-only index for the Fargo metro area, so the row below uses its all-transactions index, which is not seasonally adjusted. Comparing two second quarters removes the seasons, but do not compare the Fargo row to the others to the decimal.

Area1-year change (Q2 2025 to Q2 2026)5-year change (Q2 2021 to Q2 2026)
Fargo, ND-MN metro (all-transactions)+4.2%+35.6%
North Dakota (purchase-only)+4.8%+32.1%
United States (purchase-only)+2.1%+33.4%

Source: FHFA House Price Index, quarterly files, release of August 25, 2026. Changes calculated by Payotte from the published index values.

Prices in the Fargo area rose about twice as fast as the national index over the past year, and by a little more than a third over five years.

Costs on top of the price

Closing costs, property tax and any transfer tax depend on the loan, the providers you choose and the taxing units that cover your address. We do not recalculate them on this page. Read the state guides:

The City of Fargo adds one point to check: its “Purchasing a Home” page says that any special assessment due on a property, the method the city uses to finance infrastructure improvements, is added to the owner’s annual tax statement. Ask for the special assessments on a home before you make an offer.

Flood risk and flood insurance

Fargo has a long record of flood fighting, and the city’s Engineering Department says it has prioritized permanent levees, floodwalls, drainage improvements and more pumping capacity. Since 1997, it says, the city has bought and removed more than 200 properties from high-risk, flood-prone areas.

For a buyer, three things are practical:

  1. Look up the address. The city’s flood insurance page links to FEMA’s Flood Map Service Center and a city map search that shows whether a property is in the floodplain and lists Letters of Map Change. For current floodplain information on a specific home, the city says to contact its Engineering Department at 701.241.1545.
  2. Ask about insurance early. The city tells buyers interested in flood insurance to talk to their insurance agent. Our guide to flood insurance explains the National Flood Insurance Program, and homeowners insurance explains what a standard policy leaves out.
  3. Know the permit rules if you plan to build or fill. The city says floodplain development permits and its floodplain ordinance apply to structures, levees and earthen fill in designated areas; the Inspections Department is at 701.241.1561.

Help for first-time buyers in Fargo

The City of Fargo directs buyers to the North Dakota Housing Finance Agency (NDHFA). Its FirstHome loan allows household income up to $121,590 for a family of three or more and a price up to $500,000 for an existing single-family home (limits effective June 15, 2026). Six census tracts in Cass County also qualify for a Targeted Area Loan. Amounts, DCA and Start assistance, and the steps to apply are in our guide to first-time buyer programs in North Dakota.

North Dakota guides for Fargo buyers

Frequently asked questions

What is the median home price in Fargo?

The Census Bureau’s 2025 American Community Survey puts the median value of owner-occupied homes in the city of Fargo at $323,100 (±$11,909). This is what owners think their home is worth, not the median sale price of recent sales.

Are home prices in Fargo going up?

According to FHFA’s all-transactions index for the Fargo, ND-MN metro area, prices rose 4.2% between the second quarter of 2025 and the second quarter of 2026. Over five years, they rose 35.6%.

How do I find out if a Fargo home is in a floodplain?

Use the map search linked from the City of Fargo’s flood insurance page, or FEMA’s Flood Map Service Center. For current floodplain information on a specific home, the city says to contact its Engineering Department at 701.241.1545.

Can the city add costs to my property tax bill?

Yes. The City of Fargo says any special assessment due on a property is added to the owner’s annual tax statement. Ask the seller and the city about assessments before you close.

Does Fargo have help for first-time buyers?

Fargo points buyers to the North Dakota Housing Finance Agency, whose FirstHome loan allows incomes up to $121,590 for a family of three or more. See our first-time buyer guide for the DCA and Start assistance.

More North Dakota guides

Sources

Questions about buying a home in Fargo

How much is property tax in Fargo?

Homeowners in Cass County pay a median $3,564 a year in property tax, 1.2% of the county median home value of $298,000 (Census ACS 2020-2024). Your bill depends on your assessed value and local rates.

What are closing costs on a mortgage in Fargo?

Home-purchase mortgages in Cass County carried median total loan costs of $5,634 in 2025; half of the 1,716 loans fell between $3,584 and $8,190 (HMDA). Total loan costs are the lender and settlement-service charges of the Closing Disclosure; transfer taxes and prepaid items come on top.

Is there a transfer tax when you buy a home in Fargo?

North Dakota has no real estate transfer tax: Title 57 of the Century Code has no chapter on one and the Tax Commissioner's list of state taxes shows none. A recording fee of $20 applies to a deed of one to six pages, and the buyer must certify the full sale price on the deed.

Is it cheaper to rent or buy in Fargo?

It depends on your mortgage rate, down payment and how long you stay. As a benchmark, the median value of owner-occupied homes in Fargo ($281,900) equals 24.8 years of the median gross rent ($946 a month), both from Census ACS 2020-2024.

Run your own numbers: rent vs buy calculator · closing costs calculator.

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Data sources for the figures above

North Dakota · All states · Federal guides