Rents are right about where Fargo's 10-year trend predicts.
Rent by unit size
These are HUD Fair Market Rents, the payment standard for a Housing Choice Voucher (Section 8). They often differ from the $1,094 market median above, and that is expected: FMR is the 40th percentile of standard-quality units and counts gross rent, so it includes essential utilities such as electricity, water, gas, sewer, and trash. The market median is asking rent, which usually excludes utilities. HUD sets FMR once a year; market rent here updates monthly.
Source: HUD Small Area Fair Market Rents. Read the methodology →
12-month history
Last updated: October 17, 2026
What the numbers show
February. Asking rents in Fargo usually run 0.6% below trend in February and 0.6% above it in May, about $13 a month apart at today's median. Based on 9 years of data.
Rent in Fargo is at its highest level since Zillow's records here began in January 2017.
From 2019 to 2024, rent in Fargo rose 24.8% while median household income rose 20.6% ($55,551 to $66,998). Rent outpaced income.
Rent in Fargo is 29.5% higher than in March 2020. Across the US, rent is up 37.3% over the same stretch.
Rent has risen 3 months in a row, and rose in 8 of the last 12 months.
30% of the median household income ($66,998) is $1,675 a month. That covers HUD's Fair Market Rent for up to a 3-bedroom ($1,423); a 4-bedroom is $1,707.
The priciest of 3 ZIP codes in Fargo, 58104 ($1,266/mo), costs 1.5 times the cheapest, 58103 ($873/mo).
From Zillow's monthly rent index (ZORI) for Fargo. The seasonal pattern compares Zillow’s seasonally adjusted and unadjusted series. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.
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Who lives here
Fargo, ND is majority renter-occupied, skews toward younger working-age adults, 42.9% of residents hold a bachelor's degree or higher.
Source: U.S. Census Bureau · ACS 2024 5-Year Estimates
How Fargo, ND has changed in 5 years
Rent in Fargo, ND has increased 25.6% since 2021, going from about $871 per month to roughly $1,094 today. Median household income grew from $60,243 to $66,998 between 2021 and 2024, a 11.2% shift. Rent outpaced income growth by roughly 14.4 percentage points, which means renters are spending a larger slice of each paycheck on housing than they did in 2021. Headcount in the area went from 124,979 to 131,627 between 2021 and 2024, a 5.3% change. Taken together, the five-year picture in Fargo, ND reflects how housing costs and the people paying them have evolved through a stretch that included a pandemic, a hot rental market, and a recent cooling phase.
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Can you afford rent in Fargo on your salary?
At $1,094/mo, how Fargo rent compares to typical pay (30% rule).
Fargo rent by bedroom count
Median rent for each apartment size in Fargo. Click any size for full breakdown.
Tips for renters in Fargo
Last updated: October 17, 2026
The median rent in Fargo is $1,094/mo as of October 2026. A studio apartment averages $693/mo while a 2-bedroom runs $1,013/mo. One-bedroom apartments average $840/mo and 3-bedroom units go for $1,423/mo.
At 20% of local median household income ($66,998/yr), Fargo ranks as affordable compared to the national benchmark of 30%. Rents have increased 3.4% over the past year.
Frequently asked questions
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How does Fargo rent compare to other cities in North Dakota?
At $1,094/mo, rent takes ~20% of Fargo's median household income ($66,998/yr). The standard benchmark is 30%.
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Estimated from ZIP-level data
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