Fargo, ND
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Fargo Neighborhoods Since 2000




Fargo, ND Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Fargo Housing Market Information

With 118,523 people, 49,962 houses or apartments, and a median cost of homes of $218,716, Fargo real estate prices are well above average cost compared to national prices.

Large apartment complexes or high rise apartments are the single most common housing type in Fargo, accounting for 47.99% of the city's housing units. Other types of housing that are prevalent in Fargo include single-family detached homes ( 36.36%), row houses and other attached homes ( 8.23%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.97%). Cities with mostly row houses, apartments, and other high density housing types are relatively uncommon, and characteristic of compact cities that frequently have a downtown or other neighborhoods where amenities are within walking distance and a lot of street life can be seen.

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 to 1999 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 between 2000 and later ( 22.22%). A lesser amount of the housing stock also hails from between 1940-1969 ( 17.16%). There's also some housing in Fargo built before 1939 ( 10.56%).

Fargo Home Appreciation Rates

In the last 10 years, Fargo has experienced some of the highest home appreciation rates of any community in the nation. Fargo real estate appreciated 34.18% over the last ten years, which is an average annual home appreciation rate of 2.98%, putting Fargo in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Fargo definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Fargo's appreciation rate, at 3.63%, has been at or slightly above the national average. In the latest quarter, Fargo's appreciation rate has been -0.18%, which annualizes to a rate of -0.70%.

Relative to North Dakota, our data show that Fargo's latest annual appreciation rate is lower than 70% 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 2000, to assist you in making the best Fargo real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$218,716

Fargo, ND HOME PRICES

Value Range
> $1,216,000 0.2
$912,001 - $1,216,000 0.3
$608,001 - $912,000 1.6
$486,001 - $608,000 3.3
$365,001 - $486,000 8.0
$243,001 - $365,000 24.0
$122,001 - $243,000 47.1
$61,001 - $122,000 9.7
$0 - $61,000 6.0

Very High for ND
High for Nation

Value Relative to Nation Value Relative to State
27.9327317473339 15.929203539823

Number Of Homes And Apartments:
49,962

Fargo Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
ND*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
81.28% 3.51% 1 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$858 / per month

Homeownership Rate

Homeownership
Owners 41.96
Renters 58.04
Vacant 6.46

Housing Market Details

 

Age of Homes

AGE OF Fargo HOMES
2000 or Newer 22.2
1970 - 1999 50.1
1940 - 1969 17.2
1939 or Older 10.6

Types of Homes

TYPE OF Fargo HOMES
Single-Family 36.4
Townhomes 8.2
Small Apt. Buildings 6.0
Apt. Complexes 48.0
Mobile Homes 1.5
Other 0.0

Home Size

SIZE OF Fargo HOMES
No Bedroom 3.20
1 Bedroom 17.13
2 Bedrooms 37.19
3 Bedrooms 23.10
4 Bedrooms 14.22
5 or more bedrooms 5.15