The typical owner-occupied home in Binford is worth about $70,000, 72% below the North Dakota median of $249,900 and 79% below the national median of $332,700. Owners pay a median $390 a year in property taxes, about 0.56% of their home's value, lower than the North Dakota rate of 0.99%. The median household earns $37,143 a year, so the median home costs 1.9 times the median income (3.3 times for North Dakota). 71% of occupied homes here are lived in by their owners, and 10% of those owners still have a mortgage.
Binford at a glance
| Binford | North Dakota | U.S. | |
|---|---|---|---|
| Median home value | $70,000 | $249,900 | $332,700 |
| Median property tax paid per year | $390 | $2,468 | $3,119 |
| Property tax as a share of value | 0.56% | 0.99% | 0.94% |
| Median household income | $37,143 | $76,657 | $80,734 |
| Homes lived in by their owners | 71% | 63% | 65% |
| Owner homes with a mortgage | 10% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $938 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 11.5% | 19.4% | 21.0% |
| Median rent | $394 | $954 | $1,413 |
| Rent as a share of renters' income | 19.3% | 25.0% | 30.6% |
| Median year homes were built | 1957 | 1982 | 1980 |
| Vacant homes | 20.0% | 12.3% | 10.1% |
| Population | 168 | 784,841 | 334,922,499 |
What a typical home costs per month in Binford
At this week's average 30-year rate of 7.11%, buying the median Binford home of $70,000 with 20% down costs about $439 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $555, 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 $18,795 for the 20%-down payment. That payment is 14% of the median Binford household income of $37,143; at that income and 20% down, the 28% guideline points to a home of about $138,000.
The median rent here is $394 a month, so owning the median home costs about $45 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $14,000 |
|---|---|
| Loan amount | $56,000 |
| Principal and interest | $377 |
| Property taxes (0.56% a year) | $33 |
| Homeowners insurance (our estimate, 0.5% a year) | $29 |
| PMI | $0 |
| Total per month | $439 |
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| Down payment | $2,450 |
|---|---|
| Loan amount | $68,732 |
| Principal and interest | $462 |
| Property taxes (0.56% a year) | $33 |
| Homeowners insurance (our estimate, 0.5% a year) | $29 |
| FHA mortgage insurance | $31 |
| Total per month | $555 |
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Questions about home buying in Binford
What is the median home value in Binford?
About $70,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Binford?
Homeowners pay a median $390 a year, which is about 0.56% 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 Binford?
For the median home with 20% down at 7.11%, the payment is about $439 a month. Keeping that under 28% of gross income takes about $18,795 a year.
More about Binford
- Mortgage Refinance in Binford
- Debt Relief in Binford
- Home Equity Loans in Binford
- 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