Investment metrics, interactive calculators, and data-driven analysis for Fargo rental properties.
Pre-filled with Fargo medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Fargo.
Fargo, ND has a population of 132,000 and has been growing at 1.5% annually — above the national average, suggesting steady demand pressure on housing. The median home price of $245,000 paired with median rents of $1,200/mo produces an estimated cap rate of 3.80%.
Property taxes at 0.98% fall within the national average range and shouldn't present unusual challenges. The vacancy rate of 5% is moderate and within normal parameters for a healthy rental market.
At a price-to-income ratio of 4.5x, homes cost about 4.5 times the local median income of $54,800. This relatively affordable ratio suggests a deep pool of renters who find buying out of reach, supporting rental demand. Home values have appreciated at roughly 2.5% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: At current median prices, Fargo is challenging for pure cash flow investing. Consider BRRRR strategies with below-market purchases, or look at neighboring metros with stronger price-to-rent ratios.