Fargo, ND Cost Of Living
Cost Of Living In Fargo, ND Summary
Cost of living in Fargo research summary. The cost of living index is set to 100 for the average place in the United States. A cost of living index above 100 means Fargo is expensive. An index value below 100 means the city is a relatively cheap place to live.
On a city-by-city basis in North Dakota, home prices and rent have the biggest impact on the cost of living. Here are the key takeaways based on Saturday Night Science:
The cost of living index in Fargo is 98, with 100 being the average.
The cost of living index in Fargo is 1.0x lower than the national average.
Fargo ranks as the #7 cheapest in North Dakota out of 14.
Fargo ranks as the #2,890 cheapest out of 6,412 in the US.
The median home value in Fargo is $232,900.
The median income in Fargo is $60,243.
Table Of Contents
Fargo's Overall Cost Of Living
Lower Than The National Average
What is the cost of living in Fargo, ND?
According to the most recent data on the cost of living, Fargo has an overall cost of living index of 98, which is 1.0x lower than the national index of 100.
Compared to North Dakota, Fargo has a cost of living index that's 1.0x higher than North Dakota's index of 96.
The standard of living in Fargo ranks as #7 most affordable out of the 14 places we measured in North Dakota. By definition, that implies Fargo ranks as the #7 most expensive place in the Peace Garden State.
For more reading on life in Fargo, check out:
- Living In Fargo
- Fargo Crime Report
- Search Homes For Sale In Fargo, ND
In North Dakota
In America
Fargo Cost Of Living Vs. North Dakota
Six factors go into calculating the cost of living index in Fargo. Here is how it fairs on each of the criteria:
The Services index in Fargo is 101.
The Groceries index in Fargo is 106.
The Health index in Fargo is 115.
The Housing index in Fargo is 92.
The Transportation index in Fargo is 98.
The Utilities index in Fargo is 89.
| Living Expense | Fargo | North Dakota | National Average | |
|---|---|---|---|---|
| Overall | 98 | 96 | 100 | |
| Services | 101 | 98 | 100 | |
| Groceries | 106 | 97 | 100 | |
| Health | 115 | 112 | 100 | |
| Housing | 92 | 86 | 100 | |
| Transportation | 98 | 99 | 100 | |
| Utilities | 89 | 100 | 100 | |
Fargo, ND Housing Cost Breakdown
Housing swings affordability the most between places in North Dakota, so we broke down housing costs into more detail. Home and income data comes from the most recent US Census ACS 2017-2021. The key points are:
The Median Home Value in Fargo is $232,900.
The Median Rent in Fargo is $841.
The Median Income in Fargo is $60,243.
The Home Value To Income in Fargo is 3.9x.
The Rent To Monthly Income in Fargo is 0.17x.
| Statistic | Fargo | North Dakota | United States |
|---|---|---|---|
| Median Home Value | $232,900 | $209,900 | $244,900 |
| Median Rent | $841 | $853 | $1,163 |
| Median Income | $60,243 | $68,131 | $69,021 |
| Home Value To Income | 3.9x | 3.1x | 3.5x |
| Rent To Monthly Income | 0.17x | 0.15x | 0.2x |
Median Home Value
Median Rent
Median Income
Fargo, ND Costs By Category
Detailed Fargo Services Costs Vs. North Dakota
| Item | Fargo | North Dakota |
|---|---|---|
| Shampoo | $1.26 | $1.06 |
| Movie | $11.0 | $10.68 |
| Bowling | $4.03 | $14.67 |
| Haircut | $18.03 | $18.62 |
| Beauty Salon | $34.13 | $39.05 |
Detailed Fargo Groceries Costs Vs. North Dakota
| Item | Fargo | North Dakota |
|---|---|---|
| Ground Beef | $3.4 | $4.22 |
| Fried Chicken | $1.84 | $1.39 |
| Milk | $2.96 | $2.05 |
| Potatoes | $2.73 | $3.29 |
| Pizza | $8.77 | $10.62 |
| Beer | $9.04 | $9.38 |
| Toothpaste | $2.36 | $2.34 |
Detailed Fargo Health Costs Vs. North Dakota
| Item | Fargo | North Dakota |
|---|---|---|
| Optometrist | $93.17 | $108.57 |
| Doctor | $157.22 | $116.17 |
| Dentist | $95.33 | $99.13 |
Detailed Fargo Transportation Costs Vs. North Dakota
| Item | Fargo | North Dakota |
|---|---|---|
| Gasoline | $2.11 | $2.22 |
| Tire Balancing | $50.47 | $50.07 |
Detailed Fargo Utilities Costs Vs. North Dakota
| Item | Fargo | North Dakota |
|---|---|---|
| All Electricity | $142.52 | $167.67 |
| Phone | $25.3 | $175.64 |
Fargo SnackAbility
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Cost Of Living In Cities Around Fargo
The cost of living varies in the cities and towns around Fargo. Here's a quick look at the cost of living in the most populous nearby places:
Moorhead, MN has a cost of living index of 97, 1.0x Fargo.
West Fargo, ND has a cost of living index of 98, 1.0x Fargo.
Detroit Lakes, MN has a cost of living index of 97, 1.0x Fargo.
| City | Population | Cost Of Living | Vs. Fargo |
|---|---|---|---|
| Moorhead, MN | 44,129 | 97 | 1.0x |
| West Fargo, ND | 37,913 | 98 | 1.0x |
| Detroit Lakes, MN | 9,717 | 97 | 1.0x |
| Wahpeton, ND | 7,928 | 88 | 0.9x |
