The typical owner-occupied home in Washburn is worth about $238,200, 5% below the North Dakota median of $249,900 and 28% below the national median of $332,700. Owners pay a median $2,379 a year in property taxes, about 1.00% of their home's value, close to the North Dakota rate of 0.99%. The median household earns $73,413 a year, so the median home costs 3.2 times the median income (3.3 times for North Dakota). 74% of occupied homes here are lived in by their owners, and 46% of those owners still have a mortgage.
Washburn at a glance
| Washburn | North Dakota | U.S. | |
|---|---|---|---|
| Median home value | $238,200 | $249,900 | $332,700 |
| Median property tax paid per year | $2,379 | $2,468 | $3,119 |
| Property tax as a share of value | 1.00% | 0.99% | 0.94% |
| Median household income | $73,413 | $76,657 | $80,734 |
| Homes lived in by their owners | 74% | 63% | 65% |
| Owner homes with a mortgage | 46% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,688 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 18.5% | 19.4% | 21.0% |
| Median rent | $818 | $954 | $1,413 |
| Rent as a share of renters' income | 22.2% | 25.0% | 30.6% |
| Median year homes were built | 1973 | 1982 | 1980 |
| Vacant homes | 10.2% | 12.3% | 10.1% |
| Population | 1,507 | 784,841 | 334,922,499 |
What a typical home costs per month in Washburn
At this week's average 30-year rate of 7.11%, buying the median Washburn home of $238,200 with 20% down costs about $1,580 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,976, 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 $67,700 for the 20%-down payment. That payment is 26% of the median Washburn household income of $73,413; at that income and 20% down, the 28% guideline points to a home of about $258,000.
The median rent here is $818 a month, so owning the median home costs about $762 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $47,640 |
|---|---|
| Loan amount | $190,560 |
| Principal and interest | $1,282 |
| Property taxes (1.00% a year) | $198 |
| Homeowners insurance (our estimate, 0.5% a year) | $99 |
| PMI | $0 |
| Total per month | $1,580 |
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| Down payment | $8,337 |
|---|---|
| Loan amount | $233,886 |
| Principal and interest | $1,573 |
| Property taxes (1.00% a year) | $198 |
| Homeowners insurance (our estimate, 0.5% a year) | $99 |
| FHA mortgage insurance | $105 |
| Total per month | $1,976 |
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Questions about home buying in Washburn
What is the median home value in Washburn?
About $238,200 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Washburn?
Homeowners pay a median $2,379 a year, which is about 1.00% 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 Washburn?
For the median home with 20% down at 7.11%, the payment is about $1,580 a month. Keeping that under 28% of gross income takes about $67,700 a year.
More about Washburn
- Mortgage Refinance in Washburn
- Debt Relief in Washburn
- Home Equity Loans in Washburn
- 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