Fargo, ND Rental Market
Fargo is North Dakota's largest city and fastest-growing metro, anchored by North Dakota State University, Microsoft's significant regional technology operations, and Amazon's fulfillment infrastructure. The city has diversified beyond its agricultural roots into healthcare — with Sanford Health and Essentia Health operating major facilities — software development, and financial services, making it one of the most economically dynamic small metros in the upper Midwest and a consistent recipient of corporate expansion announcements.
Get a rent estimate for an address in FargoAverage Rent in Fargo, ND
$1,120
per month · 2026-06
Market Score
Key Facts — Fargo, ND Rental Market
- Average rent in Fargo, ND:$1,120/mo
- Median rent:$1,030/mo
- Rent range:$550 – $2,450/mo
- Most common rental (2 bedrooms):$975/mo
- Active listings:680
- Avg days to lease:31 days
- Year-over-year change:+3.2%
- Median home value:$240,000
- Est. gross annual yield:5.6%
- Data as of:2026-06
Rent by Bedroom in Fargo, ND
Average monthly rent for each bedroom type based on current active listings in Fargo.
| Bedroom Type | Avg Rent/mo |
|---|---|
1 Bedroom | $800/mo |
2 Bedrooms | $975/mo |
3 Bedrooms | $1,250/mo |
4 Bedrooms | $1,550/mo |
5 Bedrooms | $1,775/mo |
Fargo Rental Market Statistics
Key indicators from the current Fargo, ND rental market.
680
Available now in Fargo
31
From list to lease
$0.88
Average across listings
1,275 sq ft
Typical rental size
$550 – $2,450
Min to max active listings
+3.2%
Avg rent vs. prior year
Investing in Fargo, ND Rental Properties
Estimated returns based on current market rents and median home values. Perform full due diligence before investing.
Median Home Value
$240,000
Typical purchase price in Fargo
Est. Gross Annual Yield
5.6%
Before expenses & vacancy
Avg Monthly Income
$1,120
At average market rent
Gross yield = (avg rent × 12) ÷ median home value. Does not include expenses, financing, vacancies, or management fees. Analyze a specific property in Fargo for a full cash-flow breakdown including all costs.
Fargo, ND Rental Market FAQ
Common questions about renting and investing in Fargo, ND.
What is the average rent in Fargo, ND?
The average rent in Fargo, ND is $1,120 per month as of 2026. One-bedroom apartments average $800/mo, two-bedrooms average $975/mo, and three-bedroom homes average $1,250/mo. Neighborhoods near North Dakota State University, Downtown Fargo, and the growing south side tech corridor see the strongest demand and fastest lease-up.
Is Fargo, ND a good place to invest in rental property?
Fargo offers a 5.6% estimated gross annual yield with 3.2% year-over-year rent growth — solid figures for an upper Midwest market. Microsoft, Amazon, and NDSU's university community provide a diverse, high-quality tenant base. The city's consistent population growth and strong employment market, combined with North Dakota's no-income-tax status, support long-term appreciation and rental stability.
How competitive is the Fargo, ND rental market?
Fargo has approximately 680 active listings with an average of 31 days on market — a competitive pace for a city of its size. The NDSU campus area and Downtown Fargo see the fastest absorption, particularly for 1- and 2-bedroom units targeting students and young professionals. Quality new construction apartments near the Microsoft campus on the south side have created some supply but continue to fill quickly due to strong corporate demand.
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