RentDataNowRentDataNow
City Report · ND

Fargo

Pop. 131,627·10th most expensive in North Dakota·One of the most affordable rental markets in the US
Median rent (all units)
$1,088/mo
Year-over-Year
+2.1%
Month-over-Month
-0.8%
vs US Median
-$877
Falling (Monthly)
Be the first to discuss Fargo rents ↓
Most AffordableMost Expensive
Fargo · $1,088
More affordable than 95% of US cities · National median $1,965/mo
Rent Reality Score
49/100
Fairly priced
OverheatedFairGreat value

Rents are right about where Fargo's 10-year trend predicts.

Actual rent
$1,088/mo
Expected by trend
$1,083/mo
The Rent Reality Score compares today's median rent to where Fargo's own long-run trajectory projects it should be. See the full rankings →
Medians by bedroom

Rent by unit size

Studio
$693
1 BR
$840
2 BR
$1,013
3 BR
$1,423
4 BR+
$1,707
Research median
$1,013/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

Loading…

Last updated: July 20, 2026

Annual cost
$13,056/yr
At $1,088/mo median
Rent Market Meter
Balanced Market
Renter's MarketBalancedLandlord's Market
Rents are roughly steady, with neither renters nor landlords holding a strong edge right now.
Based on rent-price momentum (+2.1% YoY, -0.8% MoM), not inventory.
Rent check

Is your rent fair?

Compare your rent to the local median.

Demographics

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.

Population
131,627
Median income
$66,998
Median age
31.8
Renters
56.3%
Age distribution
20%
34.7%
22.2%
13.3%
Under 1820%
18–3434.7%
35–5422.2%
55–649.8%
65+13.3%
Gender
50.3%
49.7%
Male50.3%
Female49.7%
Race & ethnicity
79.5%
White79.5%
Black8.6%
Hispanic3.6%
Asian4.1%
Other4.2%
Education (25+)
18.2%
34.3%
42.9%
No HS diploma4.5%
HS diploma18.2%
Some college34.3%
Bachelor's+42.9%
Housing tenure
43.7%
56.3%
Owner43.7%
Renter56.3%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How Fargo, ND has changed in 5 years

Rent
$874 → $1,088
up 24.5%
Income
$60,243 → $66,998
up 11.2%
Population
124,979 → 131,627
up 5.3%
Renter share
55.3% → 56.3%
+1.0 pts
Bachelor's+
41.8% → 42.9%
+1.1 pts

Rent in Fargo, ND has increased 24.5% since 2021, going from about $874 per month to roughly $1,088 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 13.3 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.

Community

Discussions about Fargo

No discussions yet. Start the conversation.

View Fargo rent history (2015–2026) →
Salary vs rent

Can you afford rent in Fargo on your salary?

At $1,088/mo, how Fargo rent compares to typical pay (30% rule).

By apartment size

Fargo rent by bedroom count

Median rent for each apartment size in Fargo. Click any size for full breakdown.

Local insights

Tips for renters in Fargo

About renting in Fargo, ND

Last updated: July 20, 2026

The median rent in Fargo is $1,088/mo as of July 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 19% of local median household income ($66,998/yr), Fargo ranks as affordable compared to the national benchmark of 30%. Rents have increased 2.1% over the past year.

FAQ

Frequently asked questions

Is Fargo an affordable city for renters?

Fargo is considered very affordable for renters. At $1,088/mo, rent takes approximately 19% of the local median household income ($66,998/yr). The standard benchmark is 30%. Fargo falls comfortably within that range.

How much income do you need to rent in Fargo?

To keep rent at or below 30% of gross income, you would need to earn at least $44,000/year (~$21/hour full-time) to afford the median rent of $1,088/mo in Fargo. The local median household income is $66,998/yr, meaning the typical Fargo household meets that threshold.

Is rent going up or down in Fargo?

Rent in Fargo has increased 2.1% over the past year as of July 2026, putting upward pressure on renter budgets.

Which Fargo neighborhoods have the lowest rent?

The most affordable ZIP codes in Fargo are 58103 ($865/mo), 58102 ($1,032/mo), and 58104 ($1,312/mo). Citywide, the median rent in Fargo is $1,088/mo.

How does Fargo rent compare to other cities in North Dakota?

Fargo is one of the more affordable cities in North Dakota for rent, ranking #10 out of 11 tracked cities at $1,088/mo.

Which nearby cities are cheaper to rent in than Fargo?

Wahpeton is nearby and more affordable at $903/mo, which is $185 less than Fargo.

What percentage of Fargo residents rent vs. own?

According to Census data, approximately 56.3% of Fargo households are renters, while 43.7% are owner-occupied. With a majority renter population, Fargo has a strong rental market.

How does Fargo rent compare to the national average?

Fargo's median rent of $1,088/mo is $877 (45%) below the US national median of $1,965/mo. Within North Dakota, it ranks #10 out of 11 tracked cities.
Income Affordability
19%
VERY AFFORDABLE

At $1,088/mo, rent takes ~19% of Fargo's median household income ($66,998/yr). The standard benchmark is 30%.

Fargo 19%Benchmark 30%
State income tax1.1–2.5%
Run the Fargo affordability calculator →
Compare

How does this area stack up?

Pick another city or ZIP to compare.

Neighborhoods

Estimated from ZIP-level data

Schools nearby

Public schools near Fargo, ND

Recent submissions

Be the first to submit your rent for Fargo.

Recent discussions

No discussions yet.