North Fargo
Near NDSU; student + family demand.
Fargo, ND
Is Fargo a good place to buy rental property in 2026?
Short answer: yes — for cash-flow investors. Fargo's median cap rate runs about 8.5% (North Dakota state median), above the ~6.5% national median, with typical rent at $1,112–$1,547/mo and North Dakota property tax near 0.98%.
Fargo is a stable, recession-resistant market — North Dakota State University, healthcare, and agriculture keep demand steady through cycles.
Fargo market snapshot
Cash-flow marketHigher typical cap rates — built for monthly cash flow more than price growth.
Typical cap rate
8.5%
North Dakota state median
Typical rent
$1,112–$1,547/mo
HUD FMR · 2–3BR · 2026
Typical price
$210,000–$300,000
est., all-in
Property tax
0.98%
North Dakota effective
Rent is HUD Fair Market Rent where available, otherwise a market estimate; price is a market estimate. Cap-rate and tax are the defaults TrueCap applies — enter a specific address for exact, auto-filled numbers.
Sources & methodology. These are screening defaults and market estimates — not an appraisal, and not financial, tax, or legal advice. Verify rents, taxes, insurance, and local landlord/tenant law against the county assessor and your state's landlord-tenant statute before relying on them.
Data: HUD Fair Market Rent · FRED 30-yr mortgage rate · Tax Foundation (property tax) · Updated July 2026
Metro-level estimates — precision is lower at the neighborhood and parcel level; pull a specific address for exact, auto-filled figures. Reviewed by the TrueCap team. See our full methodology.
What rents actually look like in Fargo
One number never tells the story — HUD publishes ZIP-level Small Area Fair Market Rents for the Fargo, ND-MN metro area, the metro-wide FMR region that includes Fargo, and the spread across its ZIP codes is where deals are won or lost. Same purchase price, different ZIP, very different rent.
| ZIP code | 2BR rent | 3BR rent |
|---|---|---|
| 56519 | $1,460/mo | $1,820/mo |
| 58078 | $1,240/mo | $1,720/mo |
| 58052 | $1,180/mo | $1,640/mo |
| 56529 | $1,150/mo | $1,600/mo |
| 58005 | $1,100/mo | $1,530/mo |
| 58106 | $1,100/mo | $1,530/mo |
| 58047 | $1,050/mo | $1,460/mo |
| 58068 | $1,020/mo | $1,370/mo |
| 56549 | $980/mo | $1,360/mo |
| 56554 | $970/mo | $1,270/mo |
| 58027 | $970/mo | $1,270/mo |
| 58071 | $970/mo | $1,350/mo |
Showing 12 of 55 ZIP codes in the Fargo, ND-MN metro area — the HUD FMR region that includes Fargo — sampled highest to lowest across the rent range. Source: HUD FY2026 Small Area Fair Market Rents. TrueCap auto-fills the exact ZIP-level figure when you enter a Fargo address.
Why Fargo works for rental investors
Low vacancy and dependable tenants, with modest appreciation. A steady cash-flow market; budget for cold-climate maintenance.
Neighborhoods to look at in Fargo
South Fargo
Newer SFRs, low vacancy.
West Fargo
Suburb; growth, family renters.
Neighborhood notes are starting points, not recommendations — always underwrite the specific property.
Run a Fargo deal in 60 seconds
Paste a Fargo address into TrueCap and get cap rate, cash-on-cash, DSCR, cash flow, and a 10-year projection — auto-filled with North Dakota tax and HUD rent so you start from the right assumptions.
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