North Dakota offers affordable homeownership with a median home price near $290,000 and a property tax rate of 0.98% — just below the national average. The state economy is driven by agriculture, oil production, and a growing technology sector centered on Fargo. North Dakota consistently reports the lowest unemployment rates in the country, which supports steady housing demand. The state has no state income tax on individual earnings from most sources, providing an additional financial benefit for residents.
Calculate Your Monthly Payment
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Select a program to apply FHA/VA/USDA rules.
Funding fee is often financed into the loan.
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Used to estimate potential Year‑2 escrow shock if taxes reset after purchase.
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Used for Conventional PMI estimates and FHA minimum down rules
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Extra payments reduce balance faster and can end PMI sooner.
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Principal & Interest • Tax • Insurance • PMI • HOA
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Note: This is an estimate. Tax timing, exemptions, and escrow rules vary by county and lender. Always verify with your county assessor and your lender’s escrow analysis.
Extra Payment Savings
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Disclaimer: Results shown are estimates for educational purposes only and do not constitute financial, tax, legal, or investment advice. Actual payments vary based on lender, credit score, loan type, and local assessments. Consult a licensed mortgage professional for your specific situation.
North Dakota Mortgage Calculator Guide
Buying a home in North Dakota requires understanding local costs. The median home price in the state sits around $290,000, which means your down payment and loan amount will heavily dictate your monthly expenses. Because North Dakota has an average property tax rate of 0.98%, factoring this into your monthly mortgage payment is essential for an accurate budget.
Beyond principal and interest, homeowners insurance in North Dakota averages $1,800 per year. Local weather risks and property age can push this number higher. By using our pre-loaded local averages, you get a realistic view of your true housing costs rather than just a basic principal calculation.
If you put down less than 20%, you will also need to pay Private Mortgage Insurance (PMI). Adjust the down payment field above to see exactly how your PMI drops off once you reach that 20% equity threshold in North Dakota.
North Dakota's average property tax rate of 0.98% is just below the national average of 1.07%. The state offers a Primary Residential Exemption of $50,000 for homeowners who occupy their property as a primary residence, reducing the taxable value and lowering annual bills. The state also has a property tax relief program for qualifying senior citizens and disabled homeowners. On a $290,000 home with the primary residential exemption, effective annual taxes average approximately $2,352.
Frequently Asked Questions
North Dakota's average property tax rate is 0.98%, just below the national average. The state offers a $50,000 Primary Residential Exemption for owner-occupants that reduces taxable value. On a $290,000 home with the exemption, annual taxes average approximately $2,352.
North Dakota's median home price is approximately $290,000. Fargo averages around $320,000, Bismarck near $310,000, and Grand Forks approximately $255,000. North Dakota represents solid affordability in the northern plains with a strong employment market.
The North Dakota Housing Finance Agency (NDHFA) offers the FirstHome Program with competitive mortgage rates for first-time buyers, the HomeAccess Program for buyers with disabilities, and the North Dakota Roots program providing down payment assistance. Income and purchase price limits apply.
North Dakota's economy is anchored by agriculture (the state is a top producer of wheat, sunflowers, and canola), oil and gas production in the Bakken formation, and a growing technology and healthcare sector concentrated in Fargo. The state consistently has one of the lowest unemployment rates nationally, which supports steady housing demand across market cycles.
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