The typical owner-occupied home in Richardton is worth about $188,500, 25% below the North Dakota median of $249,900 and 43% below the national median of $332,700. Owners pay a median $1,869 a year in property taxes, about 0.99% of their home's value, close to the North Dakota rate of 0.99%. The median household earns $60,179 a year, so the median home costs 3.1 times the median income (3.3 times for North Dakota). 86% of occupied homes here are lived in by their owners, and 72% of those owners still have a mortgage.
Richardton at a glance
| Richardton | North Dakota | U.S. | |
|---|---|---|---|
| Median home value | $188,500 | $249,900 | $332,700 |
| Median property tax paid per year | $1,869 | $2,468 | $3,119 |
| Property tax as a share of value | 0.99% | 0.99% | 0.94% |
| Median household income | $60,179 | $76,657 | $80,734 |
| Homes lived in by their owners | 86% | 63% | 65% |
| Owner homes with a mortgage | 72% | 52% | 61% |
| Median monthly costs, owners with a mortgage | $1,153 | $1,762 | $1,963 |
| Those costs as a share of the owners' income | 17.8% | 19.4% | 21.0% |
| Median rent | $593 | $954 | $1,413 |
| Rent as a share of renters' income | 28.8% | 25.0% | 30.6% |
| Median year homes were built | 1970 | 1982 | 1980 |
| Vacant homes | 14.0% | 12.3% | 10.1% |
| Population | 768 | 784,841 | 334,922,499 |
What a typical home costs per month in Richardton
At this week's average 30-year rate of 7.11%, buying the median Richardton home of $188,500 with 20% down costs about $1,248 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,562, 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 $53,507 for the 20%-down payment. That payment is 25% of the median Richardton household income of $60,179; at that income and 20% down, the 28% guideline points to a home of about $212,000.
The median rent here is $593 a month, so owning the median home costs about $655 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $37,700 |
|---|---|
| Loan amount | $150,800 |
| Principal and interest | $1,014 |
| Property taxes (0.99% a year) | $156 |
| Homeowners insurance (our estimate, 0.5% a year) | $79 |
| PMI | $0 |
| Total per month | $1,248 |
Change the numbers in the calculator
| Down payment | $6,598 |
|---|---|
| Loan amount | $185,086 |
| Principal and interest | $1,245 |
| Property taxes (0.99% a year) | $156 |
| Homeowners insurance (our estimate, 0.5% a year) | $79 |
| FHA mortgage insurance | $83 |
| Total per month | $1,562 |
Change the numbers in the calculator
Questions about home buying in Richardton
What is the median home value in Richardton?
About $188,500 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Richardton?
Homeowners pay a median $1,869 a year, which is about 0.99% 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 Richardton?
For the median home with 20% down at 7.11%, the payment is about $1,248 a month. Keeping that under 28% of gross income takes about $53,507 a year.
More about Richardton
- Mortgage Refinance in Richardton
- Debt Relief in Richardton
- Home Equity Loans in Richardton
- 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