The typical owner-occupied home in Fargo is worth about $82,700, 73% below the Georgia median of $303,300 and 75% below the national median of $332,700. Owners pay a median $1,086 a year in property taxes, about 1.31% of their home's value, higher than the Georgia rate of 0.77%. The median household earns $72,990 a year, so the median home costs 1.1 times the median income (3.9 times for Georgia). 78% of occupied homes here are lived in by their owners, and 7% of those owners still have a mortgage.
Fargo at a glance
| Fargo | Georgia | U.S. | |
|---|---|---|---|
| Median home value | $82,700 | $303,300 | $332,700 |
| Median property tax paid per year | $1,086 | $2,341 | $3,119 |
| Property tax as a share of value | 1.31% | 0.77% | 0.94% |
| Median household income | $72,990 | $77,353 | $80,734 |
| Homes lived in by their owners | 78% | 66% | 65% |
| Owner homes with a mortgage | 7% | 63% | 61% |
| Median monthly costs, owners with a mortgage | $764 | $1,783 | $1,963 |
| Those costs as a share of the owners' income | 9.0% | 20.0% | 21.0% |
| Median rent | – | $1,393 | $1,413 |
| Median year homes were built | 1975 | 1992 | 1980 |
| Vacant homes | 15.7% | 10.3% | 10.1% |
| Population | 512 | 10,940,407 | 334,922,499 |
What a typical home costs per month in Fargo
At this week's average 30-year rate of 7.11%, buying the median Fargo home of $82,700 with 20% down costs about $570 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $708, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $24,420 for the 20%-down payment. That payment is 9% of the median Fargo household income of $72,990; at that income and 20% down, the 28% guideline points to a home of about $247,000.
| Down payment | $16,540 |
|---|---|
| Loan amount | $66,160 |
| Principal and interest | $445 |
| Property taxes (1.31% a year) | $90 |
| Homeowners insurance (our estimate, 0.5% a year) | $34 |
| PMI | $0 |
| Total per month | $570 |
Change the numbers in the calculator
| Down payment | $2,894 |
|---|---|
| Loan amount | $81,202 |
| Principal and interest | $546 |
| Property taxes (1.31% a year) | $90 |
| Homeowners insurance (our estimate, 0.5% a year) | $34 |
| FHA mortgage insurance | $37 |
| Total per month | $708 |
Change the numbers in the calculator
Questions about home buying in Fargo
What is the median home value in Fargo?
About $82,700 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Fargo?
Homeowners pay a median $1,086 a year, which is about 1.31% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Fargo?
For the median home with 20% down at 7.11%, the payment is about $570 a month. Keeping that under 28% of gross income takes about $24,420 a year.
More about Fargo
- Mortgage Refinance in Fargo
- Debt Relief in Fargo
- Home Equity Loans in Fargo
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data