Fargo appreciation rates and housing market information

Fargo housing market information

With 90,787 people, 41,277 houses or apartments, and a median cost of homes of $171,673, Fargo real estate is some of the most expensive in North Dakota, although Fargo home values aren't among America's most expensive.

large apartment complexes or high rise apartments are the single most common housing type in Fargo, accounting for 45.85% of the city's housing units. Other types of housing that are prevalent in Fargo include single-family detached homes (38.03%), duplexes, homes converted to apartments, or other small apartment buildings (6.73%), row houses and other attached homes (6.44%), and a few mobile homes or trailers (2.95%). Cities that are predominantly high-density buildings are relatively uncommon in the US. Because of the density, these types of cities are often walkable and compact, and often have a lively downtown.

People in Fargo primarily live in small (one, two, or no bedroom) units, chiefly found in large apartment complexes or high rise apartments. Fargo has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Fargo built from 1970-1994, so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Fargo built from 1940-1969 (23.99%). A lesser amount of the housing stock also hails from 1995 and later (14.04%), and some were built from 1939 and earlier (14.04%).

Fargo home appreciation rates

Real estate appreciation rates in Fargo have tracked to near the national average over the last ten years, with the annual appreciation rate averaging 6.65% during the period.

Appreciation rates are so strong in Fargo that despite a nationwide downturn in the housing market, Fargo real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Fargo appreciation rates continue to be some of the highest in America, at 2.68%, which is higher than appreciation rates in 72% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Fargo. Fargo appreciation rates in the latest quarter were at 0.16%, which equates to an annual appreciation rate of 0.64%.

Relative to North Dakota, our data show that Fargo's latest annual appreciation rate is higher than 20% of the other cities and towns in North Dakota.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Fargo differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Fargo - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 1990, to assist you in making the best Fargo real estate investment or home purchase decisions.