| Index | Fargo | North Dakota | National |
| Cost of living | 103 | 95 | 100 |
| Groceries | 99 | 99 | 100 |
| Health care | 101 | 99 | 100 |
| Housing | 110 | 86 | 100 |
| Transportation | 100 | 98 | 100 |
| Utilities | 107 | 104 | 100 |
| Lifestyle & Entertainment | 96 | 97 | 100 |
| Household Items | 98 | 99 | 100 |
| Education & Childcare | 102 | 98 | 100 |
Are you thinking about relocating, but curious about the potential cost of living in Fargo? Is it more expensive or more affordable than average? Based on the most recent report, the cost of living in Fargo stands at 103, making it 3% higher than the national average. The cost of living directly affects the affordability of one's desired lifestyle. Knowing the cost of housing, transportation, groceries and other essentials in the new area allows people to gauge whether they can maintain their preferred standard of living.
Everyday expenditures like food, housing, lifestyle expenses, transportation and health care in Fargo are priced in a manner consistent with other areas. This means that residents of Fargo can anticipate their daily expenses remaining reasonably similar to those in an average city, thereby supporting a manageable cost of living.
Nobody knows their city better than the people who actually live there. So, we asked 17 local residents how they would rate the cost of living in Fargo and this is how they responded. 35% of people said that the cost of living was affordable, with prices decreasing, while 65% of people said that the cost of living was very expensive and prices continue to rise.
Is Fargo an affordable place to live? It's a good question and one that you might want to ask when considering any new city, as affordability can play a huge role in the decision making process. The cost of living index (which we covered above), as well as housing costs and income levels play a vital role in determining the affordability of an area. The median home price in Fargo is 21.7% higher than the national average, while the average monthly rent prices are 15.8% lower than average. The affordability of any location can also be influenced by median income levels. Fargo has a median household income of $87,039, which is 7% higher than the national average.
Urbanization: Larger, urban areas boasting abundant amenities and robust employment prospects often exhibit a heightened cost of living, driven by the increased demand for services and residential relocation. Consequently, this leads to elevated home prices and higher rental rates. In contrast, sparsely populated rural locales or regions marked by diminished demand typically offer a more limited range of amenities and experience slower job market expansion. This translates into a more affordable cost of living.
Subsidies: Certain regions may provide government subsidies or assistance initiatives designed to alleviate the cost of living burden on their residents. These programs encompass a wide range of support mechanisms, such as Medicare, Medicaid, housing subsidies, low-income home energy assistance programs, school lunch programs, supplemental nutrition assistance programs, student loans, electric vehicle tax credits, affordable care act subsidies and farming subsidies. Areas with fewer subsidy offerings might experience an elevation in their cost of living.
Healthcare: Healthcare expenditures and insurance premium rates can vary significantly, contingent upon the particular city or state. Factors such as the accessibility of healthcare facilities, out-of-pocket expenses for doctor's appointments, dental care charges, prescription medication costs, and expenses related to specialized medical care can all have an impact on the overall cost of living. In Fargo, healthcare costs are 1% higher than the national average.
The cost of living estimates displayed for Fargo are modeled using a U.S. average baseline of 100, helping provide a useful comparison of local living expenses. Housing calculations include U.S. Census home price and rental data, while all other values are AI-assisted estimates based on regional cost patterns, climate, transportation, and everyday spending expectations. These values are intended for directional comparisons across cities.
| Cost of living index | |
| Groceries index | |
| Health care index | |
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| Utilities index | |
| Lifestyle index | |
| Household index | |
| Educare index |
| Median Income | Per Year | Per Month | Max Budget (28% DTI) | Max Budget (36% DTI) |
| Owners | $143,630 | $11,969 | $3,351 | $4,309 |
| Renters | $58,846 | $4,904 | $1,373 | $1,766 |
| State | General Sales Tax | With Max Surtax |
| North Dakota | 5% | 8% |
| State | Income Tax (Low) | Income Tax (High) |
| North Dakota | 1.1% | 2.9% |
| City | Population | Cost of Living Index | National Avg. |
| Georgetown, MN | 59 | 83 | 16.5% |
| Baker, MN | 42 | 94 | 6.3% |
| Felton, MN | 128 | 95 | 5.2% |
| Davenport, ND | 274 | 97 | 3.5% |
| Glyndon, MN | 1,414 | 99 | 1.2% |
| Fargo, ND | 128,361 | 103 | 3.2% |
| City | Population | Cost of Living Index | National Avg. |
| Lehigh Acres, FL | 128,418 | 104 | 3.7% |
| Athens, GA | 128,427 | 101 | 0.6% |
| Norman, OK | 127,988 | 97 | 3.5% |
| Berkeley, CA | 127,519 | 222 | 121.6% |
| Abilene, TX | 129,386 | 93 | 7.1% |
| Fargo, ND | 128,361 | 103 | 3.2% |
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