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Mortgage Rates in North Dakota

Kimberly Rotter
By: Kimberly Rotter

Our Mortgages Expert

Nathan Alderman
Check IconFact Checked Nathan Alderman

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Purchasing a new home in North Dakota is a major financial commitment. So if you're looking to become a home buyer, you'll want to shop for the best mortgage rates. Because interest rates and loan terms vary, it's a good idea to get quotes from several mortgage lenders.

5 affordable places to live in North Dakota

Choosing an affordable place for your home purchase can keep costs down. Here are five places with a low cost of living in North Dakota.

1. Jamestown

This North Dakota town has a population of just over 15,000, and around 6 in 10 people who live there own their homes, according to Niche. The median home value of $144,800 is well below the national median value of $217,500. Niche ranks Jamestown in seventh place for lowest cost of living in North Dakota, with only smaller towns ranking more affordable. It's home to attractions including Fort Seward Park, the Stutsman County Memorial Museum, and the National Buffalo Museum. Property taxes in Stutsman County are relatively expensive, however, averaging 1.54% of assessed fair market value, according to

2. Williston

Williston is another inexpensive North Dakota town, although its population is about twice that of Jamestown. Williston is ranked 15th for lowest cost of living in North Dakota, and it also ranks fourth for most diverse. However, just 46% of people own their homes here, perhaps because the median home value of $238,700 is above the national average. Property taxes are a bit cheaper here than Jamestown -- Williams County has an average tax rate of just 1.49% of a property's assessed fair market value.

3. West Fargo

West Fargo is a suburb of Fargo, and it ranks 18th for best place to buy a house in North Dakota out of 48 ranked areas. It's also known for having some of the best public schools in the state, and it's in the top 15 best places to raise a family, according to Niche. Homes are more expensive than the national median here, at a median of $241,000. Still, 66% of West Fargo residents are owners rather than renters. Property taxes in Cass County are some of the highest in the U.S., at an average of 1.87% of assessed fair market value. Although taxes are higher than in some of the other places on our list, West Fargo offers residents the chance to enjoy plenty of local attractions, including Rendezvous Park and the Red River Zoo.

4. Dickinson

This North Dakota town has a population of just over 22,080, and Niche has identified it as one of the best places for young professionals and as one of the most diverse places in North Dakota. Property values are above the national average here as well, with a median home price of $238,000. As in West Fargo, most people own their homes, with just 48% of residents renting. Property taxes are relatively expensive here, with an average rate of 1.39% of assessed fair market value in Stark County.

5. Mandan

Mandan comes in 18th out of 48 places with the lowest cost of living in North Dakota, according to Niche. It's also one of the top 10 places to retire and one of the top 20 most diverse locales in the state. The median home value here is less than that of some of the other places on our list at $215,300, and it's just under the national median. Property taxes are fairly high at 1.79% of assessed fair market value. Despite these costs, 65% of Mandan residents own their homes.

Whether you choose one of these locations or another place to buy your North Dakota home, remember to shop around for the best mortgage rates to keep your monthly payments as low as possible.

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The Ascent's best mortgage lenders

If you want to uncover more about the best mortgage lenders for low rates and fees, our experts have created a shortlist of the top mortgage companies. Some of our experts have even used these lenders themselves to cut their costs.

Our Mortgages Experts