Fargo, North Dakota Rental Market Trends
Any shifts in rent prices brought forth by the COVID-19 pandemic are not yet reflected in the statistics on this page. Please bear this in mind when referencing the data below, as it may not accurately describe the current context of the Fargo, North Dakota rental market.
Fargo, North Dakota
Average Apartment Rent
$1,138
Y-o-Y Change in Average
Apartment Rent
1.9%
As of May 2026
Compared to a year ago, Fargo, North Dakota apartments have recorded a 1.9% rent increase.
Fargo, North Dakota Average apartment rent trend
Fargo, North Dakota Average Apartment Rent
Fargo, North Dakota Apartment rent ranges
At 45.6%, apartments priced $1,000 - $1,500 represent the bulk of Fargo, North Dakota rentals, while condos priced Over $3,000 hold the lowest share of the market – 0.07%.
Fargo, North Dakota Housing tenure**
Renters take up 56% of Fargo, North Dakota real estate, occupying a total of 31,773 units, while homeowners live in 25,117 properties.
Median number of rooms of renter-occupied housing units**
3.9
Renter median household income**
$43,771
Average household size of renter-occupied housing units**
1.88
Rental vacancy rate**
7.5%
Fargo, North Dakota Renter-occupied housing units by no. of bedrooms**
There are 14,852 rentals in Fargo, North Dakota with 2 beds making up the highest share of the market, at 47%. Units with 5 or more beds, on the other hand, hold the lowest percentage (2%), amounting to 539 units. Overall, the median number of rooms in Fargo, North Dakota homes for rent is 3.9.
Fargo, North Dakota Renter-occupied units by age of householder**
Most condos for rent in Fargo, North Dakota are occupied by residents in the 25 - 34 years age group (30%), followed by those in the 15 - 24 years age group (24%). At the same time, people in the 75 - 84 years age group make up the lowest share of the local rental market – 3%.
Fargo, North Dakota Renter-occupied housing units by family type**
Fargo, North Dakota Renter-occupied housing units by the presence of own children**
A total of 10,330 apartments for rent in Fargo, North Dakota, or 33% of all rentals are family households. Additionally, 17% of rental homes include children under the age of 18 – that’s 5,499 units. All in all, the median size of a renter-occupied household in Fargo, North Dakota is 1.88.
Fargo, North Dakota Renter-occupied housing units by educational attainment**
In terms of education, renters holding bachelor degrees or higher make up 35% of the rental market. In contrast, residents with less than a high school degree reside in 5% of the homes for rent in Fargo, North Dakota.
Fargo, North Dakota Renter-occupied units by year structure built**
The highest share of Fargo, North Dakota apartment rentals, namely 26% or 8,106 units, were Built 2010 - 2019, followed by those Built 1990 - 1999 (16%, 4,999 units), and the ones Built 2000 - 2009 (15%, 4,751 units).
Fargo, North Dakota Renter-occupied units by year householder moved in**
Median year renter moved into unit 2018
Most Fargo, North Dakota renters (44%) moved in 2018 to 2020, while only 2% of them moved in 1990 to 1999. Overall, the median year renters have occupied their Fargo, North Dakota condos for rent is 2018.
Fargo, North Dakota Renter-occupied housing units by vehicles available**
When it comes to transportation options, 49% of Fargo, North Dakota renters have 1 vehicle available per household, 31% of them have 2 vehicles available, and 12% have No vehicle available.
Fargo, North Dakota Means of transportation to work of householders living in renter-occupied housing units**
Fargo, North Dakota Geographical mobility in the past year for householders living in renter-occupied housing units**
The rental statistics on this page were compiled using data provided by our sister company, Yardi Matrix, an apartment market intelligence solution which offers comprehensive information on all Fargo, North Dakota apartment buildings 50 units or larger. Yardi Matrix covers ~80% of the U.S. metro area population, including over 80,000 properties and 15.2 million apartments across 124 U.S. markets.
*Average single-family rent calculated from point2homes.com data.
**Data sourced from U.S. Census Bureau; American Community Survey, 2022 American Community Survey 5-Year Estimates
