North Dakota Mortgage Calculator
The median home price in North Dakota is $250,000. With a 20% down payment at the state's average 30-year fixed rate of 7.18%, your estimated all-in monthly payment (principal, interest, taxes, and insurance) is approximately $1,674. North Dakota's property tax rate of 1.05% annually is below the U.S. national average of 1.07%.
A buyer earning North Dakota's median household income of $72,000 would dedicate roughly 28% of gross monthly income to housing — considered affordable by the standard 28% guideline.
Median Home Price
$250,000
Avg 30-yr Rate
7.18%
Property Tax Rate
1.05%/yr
Est. Monthly PITI
$1,674
Mortgage Calculator
Total Monthly Payment
$1,673.62
Loan Amount
$200,000
Total Paid
$487,753
Total Interest
$287,753
How to Get a Mortgage in North Dakota
- 1 Check your credit score. In North Dakota, most conventional lenders require 620+; FHA allows 580+ with 3.5% down.
- 2 Save for your down payment. On a $250,000 North Dakota home, 20% down is $50,000 — avoiding PMI and reducing your monthly payment.
- 3 Get pre-approved from 2–3 lenders. Rates in North Dakota average 7.18%, but shopping lenders often saves 0.25–0.5%.
- 4 Account for closing costs — typically 2–5% of the loan amount, or $6,000–$10,000 on a median North Dakota purchase.
- 5 Budget for ongoing costs: North Dakota property taxes average 1.05%/yr ($2,625/yr on the median home), plus homeowner's insurance averaging $1.200/yr.
Monthly Cost Breakdown — Median North Dakota Home
Excludes HOA fees, PMI (not required with 20% down), and utilities.
North Dakota Mortgage FAQs
What is the average home price in North Dakota?
The median home price in North Dakota is $250,000 (2024 estimate). With a typical 20% down payment of $50,000, a buyer would finance $200,000 at a 30-year fixed rate.
What are property taxes like in North Dakota?
North Dakota has an average effective property tax rate of 1.05% of assessed home value. On a $250,000 home, that's approximately $2,625 per year ($219/month) — below the national average of 1.07%.
How much income do I need to buy a home in North Dakota?
To keep housing costs at or below the recommended 28% of gross monthly income on a median-priced North Dakota home, you'd need to earn roughly $71,727 per year. The state's median household income is $72,000, meaning the typical household allocates about 28% of gross income to housing — considered affordable.
What is the average mortgage rate in North Dakota?
The average 30-year fixed mortgage rate in North Dakota is approximately 7.18% (2024 average). Rates vary by lender, credit score, loan-to-value ratio, and loan type. Borrowers with credit scores above 740 typically qualify for the best available rates.
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