Mortgage Calculator in North Dakota

Calculate your monthly mortgage payment in North Dakota using the 2026 median home price of $240K and current local rates. Adjust the inputs below to match your situation.

North Dakota Housing Market at a Glance (2026)

$240K

Median Home Price

6.89%

Avg Mortgage Rate

0.98%

Property Tax Rate

10%

Typical Down Payment

Buying a Home in North Dakota: Costs to Know

Average closing costs1.8% of purchase price

On a $240K home, closing costs ≈$4,320

Median household income$68,000/yr

State income tax (top rate)2.9%

First-Time Buyer Programs in North Dakota

North Dakota offers state-sponsored programs that can reduce your down payment or closing costs:

✓NDHFA FirstHome Program
✓DCA Program

How Mortgage Payments Work in North Dakota

A standard mortgage payment in North Dakota is calculated using the amortization formula:M = P[r(1+r)^n] / [(1+r)^n - 1]

Where P is the loan principal, r is the monthly interest rate (annual rate ÷ 12), and n is the number of monthly payments. On a $240K home in North Dakota with a 10% down payment at 6.89% over 30 years, your principal and interest payment comes to approximately $1,421/month— not including property taxes or homeowner's insurance.

North Dakota's property tax rate of 0.98% adds roughly $196/month to your total housing cost on a $240K home. This rate is near the national average of ~1.1%.

North Dakota vs. National Average

Metric	North Dakota	National Avg
Median Home Price	$240,000	$420,000
Property Tax Rate	0.98%	1.07%
Avg Mortgage Rate	6.89%	6.85%
Cost of Living Index	97	100

Frequently Asked Questions — Mortgage Calculator in North Dakota

What is the average mortgage payment in North Dakota?+

Based on the median home price of $240K in North Dakota with a 10% down payment and 6.89% rate (30-year fixed), the estimated monthly principal and interest payment is approximately $1,421. Adding property taxes (~$196/mo) and homeowner's insurance, total PITI is typically $1,767–$1,867/month.

What is the property tax rate in North Dakota?+

North Dakota has an average effective property tax rate of 0.98%. On the median home price of $240K, that equals roughly $2,352 per year — or $196 added to your monthly mortgage payment. This is near the national average of ~1.1%.

How much down payment do I need to buy a home in North Dakota?+

The typical down payment in North Dakota is 10% — about $24,000 on the median $240K home. Conventional loans require as little as 3% down; FHA loans allow 3.5%. First-time buyers may also qualify for assistance through programs like NDHFA FirstHome Program.

What are closing costs in North Dakota?+

Average closing costs in North Dakota are approximately 1.8% of the purchase price — about $4,320 on the median $240K home. Closing costs include lender origination fees, title insurance, escrow, prepaid interest, and government recording fees.

What income do I need to afford the median home in North Dakota?+

To afford the $240K median home in North Dakota under the 28% housing-cost rule, you need a gross monthly income of at least $6,311 — roughly $76K/year. The median household income in North Dakota is $68,000.

Data Sources & Methodology

State data sourced from the National Association of Realtors (median home prices), Tax Foundation (property tax rates, income tax), Freddie Mac PMMS (mortgage rates), ATTOM Data Solutions (closing costs), and U.S. Census Bureau ACS (household income). Last updated 2026.