Cost of Living in Fargo, ND
Updated November 2026 · Cass County · Fargo, ND-MN metro area · population 131,627
Prices in Fargo are 9.9% below the US average (local index 90.1; the BEA index for the Fargo, ND-MN metro area is 90.9), with local housing the biggest saving at 76.3; a single adult's modelled budget is about $2,322 a month and the median rent is $946.
Prices by category
CostLiving local estimate. 100 = US average; 110 means prices are 10% higher. Housing reflects Fargo's own median rent compared with the area's average rent; goods, utilities and other services are BEA's official price parities for the Fargo, ND-MN metro area, unchanged.
Fargo price index by category, US average = 100: All items 90.1, Housing (rents) 76.3, Goods 95.7, Utilities 77.3, Other services 91.3
Cheaper than 93% of the cities we cover.
| BEA index | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 |
|---|---|---|---|---|---|---|
| All items | 95.0 | 92.5 | 92.6 | 87.9 | 89.1 | 90.9 |
Monthly budget by household type
1 adult · 1-bedroom · modelled estimate for Fargo, ND
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $780 | $9,360 | 34% |
| Utilities | $214 | $2,568 | 9% |
| Food at home | $270 | $3,240 | 12% |
| Transportation | $579 | $6,948 | 25% |
| Health care | $321 | $3,852 | 14% |
| Clothing, personal care & supplies | $158 | $1,896 | 7% |
| Total | $2,322 | $27,864 | 100% |
2 adults · 2-bedroom · modelled estimate for Fargo, ND
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $900 | $10,800 | 24% |
| Utilities | $338 | $4,056 | 9% |
| Food at home | $498 | $5,976 | 13% |
| Transportation | $1,145 | $13,740 | 30% |
| Health care | $595 | $7,140 | 16% |
| Clothing, personal care & supplies | $311 | $3,732 | 8% |
| Total | $3,787 | $45,444 | 100% |
2 adults + 2 children · 3-bedroom · modelled estimate for Fargo, ND
| Category | Per month | Per year | Share |
|---|---|---|---|
| Housing (rent) | $1,323 | $15,876 | 27% |
| Utilities | $412 | $4,944 | 8% |
| Food at home | $710 | $8,520 | 14% |
| Transportation | $1,526 | $18,312 | 31% |
| Health care | $554 | $6,648 | 11% |
| Clothing, personal care & supplies | $402 | $4,824 | 8% |
| Total | $4,927 | $59,124 | 100% |
Modelled estimate of basic costs, excluding taxes, child care and savings. Housing is rent excluding tenant-paid utilities (counted under utilities). See how the budget is calculated.
Housing costs in Fargo
Rent by number of bedrooms
| Size | Median rent |
|---|---|
| Studio | $705 |
| 1 bedroom | $842 |
| 2 bedrooms | $972 |
| 3 bedrooms | $1,429 |
| 4 bedrooms | $1,760 |
Median rent: Census ACS 2020-2024 median gross rent by bedrooms (rent plus tenant-paid utilities, all renters).
Rent, home values and affordability
| Measure | Value |
|---|---|
| Median gross rent | $946 |
| Median contract rent (excl. utilities) | $876 |
| Median home value | $281,900 |
| Owner costs with a mortgage | $1,767/mo |
| Median household income | $66,998 |
| Rent as % of renter income Moderate | 26.3% |
| Home value ÷ household income Moderate | 4.2× |
Census ACS 5-year 2020-2024.
Electricity and gas prices
Residential electricity in North Dakota
13.31¢ per kWh, August 2026
12-month change: +2.6% (from 12.97¢) · US 18.16¢
Average household uses 1,076 kWh a month in North Dakota ≈ $133/month. Source: EIA-861M (statewide average).
Regular gasoline regional figure: Midwest (PADD 2)
$4.10 per gallon, week of 2026-11-02
12-month change: +45.0% (from $2.83) · US $4.15
EIA weekly retail price survey; North Dakota is covered by the Midwest (PADD 2) average.
Inflation in the Midwest
Consumer prices in the Midwest Census region rose +4.2% in the 12 months to September 2026 (US +3.7%). Nationally, food at home changed +1.8%, shelter +3.2% and energy +20.4%. Source: BLS CPI-U, not seasonally adjusted. CPI is published for regions and large metro areas, so the regional figure is shown.
Salary equivalent
Because prices in Fargo are 9.9% below the US average, $60,000 here has the buying power of about $66,600 in an average-priced US area.
Formula: US-equivalent = salary × 100 ÷ 90.1. Based on the local cost index (CostLiving estimate from BEA RPP and Census rents); taxes not included.
Nearby cities
| City | Distance | Index | Budget (single) | Median rent |
|---|---|---|---|---|
| Moorhead, MN | 4 mi | 91.3 | $2,170 | $1,033 |
| Grand Forks, ND | 74 mi | 87.3 | $2,289 | $980 |
Cities with a similar cost of living
| City | Index | Budget (single) | Median rent |
|---|---|---|---|
| Rocky Mount, NC | 90.1 | $2,245 | $957 |
| Mobile, AL | 90.0 | $2,296 | $1,068 |
| Little Rock, AR | 90.1 | $2,282 | $1,106 |
| Decatur, AL | 90.2 | $2,178 | $896 |
| Marshfield, WI | 90.0 | $2,188 | $842 |
| Muncie, IN | 89.9 | $2,158 | $904 |
Compare Fargo with another city
Frequently asked questions
Is Fargo, ND an expensive place to live?
Fargo has a local cost of living index of 90.1, which is 9.9% below the US average. This CostLiving estimate starts from the BEA Regional Price Parities 2024 for the Fargo, ND-MN metro area (90.9) and adjusts housing to Fargo's own rents. It is 1.1 points above the North Dakota average. Cheaper than 93% of the cities we cover.
How much money do you need to live in Fargo?
Our modelled estimate of basic monthly costs is $2,322 for a single adult, $3,787 for a couple and $4,927 for a family of four, before taxes, child care and savings. A $60,000 salary in an average-priced US area buys about the same as $54,000 in Fargo.
What is the average rent in Fargo?
The median gross rent (rent plus tenant-paid utilities) is $946 a month (Census ACS 2020-2024). By size: 1 bedroom $842, 2 bedrooms $972, 3 bedrooms $1,429. The typical renter spends 26.3% of household income on rent (moderate).
How much does a house cost in Fargo?
The median owner-estimated home value is $281,900, 4.2 times the median household income of $66,998 (moderate). Owners with a mortgage pay a median $1,767 a month in housing costs.
How much is electricity and gas in Fargo?
North Dakota residential electricity averaged 13.31¢ per kWh in August 2026 (US 18.16¢). Regular gasoline was $4.10 a gallon (Midwest (PADD 2) average, week of 2026-11-02).
Sources and notes
- Local cost index: CostLiving estimate from BEA Regional Price Parities 2024 for the Fargo, ND-MN metropolitan statistical area (BEA index 90.9) with housing from Census ACS median rent (city figure); see the methodology.
- Rents, home values, income, population: U.S. Census Bureau ACS 5-year 2020-2024, Census place 3825700 (Fargo city).
- Electricity: EIA-861M, North Dakota residential average, August 2026.
- Gasoline: EIA weekly retail regular gasoline, Midwest (PADD 2), week of 2026-11-02.
- Inflation: BLS CPI-U Midwest region, September 2026.
- Budget baselines: BLS Consumer Expenditure Survey 2025; electricity use by household size: EIA RECS 2020.
- Gasoline price: regional figure (EIA publishes weekly prices for only 9 states).
Labels such as “county figure” or “state nonmetro figure” mark values that come from a larger area because the city-level figure is unavailable or unreliable. The monthly budget is a modelled estimate, not observed spending, and excludes taxes. This page is for general information and is not financial advice. Methodology · All sources