Fargo, ND Cost Of Living

Demographics | Crime | Cost Of Living
Updated: 2023-11-15

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

  1. Summary
  2. National Comparison
  3. Housing Breakdown
  4. Detailed Pricing
  5. Nearby Comparisons
98
Fargo's Overall Cost Of Living
1.0x
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:

7 out of 14
In North Dakota
2,890 out of 6,412
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
For more reading on cost of living around North Dakota, check out:
Fargo Cost of Living Vs. ND

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
Search Homes For Sale In Fargo, ND
$232,900
Median Home Value
$841
Median Rent
$60,243
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

8
/10
Overall SnackAbility
Jobs
8/10
Housing
8
Affordability
7
Diversity
8
Safety
4
Amenities
9
Education
8.5
Commute
9.5

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

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