North Dakota Mortgage Calculator
Work out what a home in North Dakota really costs per month. The calculator below starts from the state's typical home price of $270,000 and its 0.98% effective property-tax rate — lower than the 1.1% national average — which works out to about $2,646 a year in property tax on a median home. Average local homeowners insurance ($2,982/year) is included too, so the estimate is a realistic all-in figure of around $1,835/month on a standard 30-year purchase rather than a bare principal-and-interest number. Swap in your own price, rate and down payment to refine it, and see below for how North Dakota compares with the rest of the country.
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Property taxes in North Dakota
North Dakota's effective property-tax rate is about 0.98% of a home's value each year — lower than the U.S. average of 1.1%. On the state's median home price of $270,000, that works out to roughly $2,646/year ($221/month) added to your payment.
Good to know: North Dakota offers a primary-residence credit against property tax, and home prices remain well below the national median.
For the full formula and a worked example, see the main Mortgage Calculator.
Homeowners insurance in North Dakota
Lenders require homeowners insurance, and in North Dakota it averages about $2,982/year ($249/month) for a policy with $300,000 in dwelling coverage — 17% above the U.S. average of $2,543. Premiums run high here, so it's worth comparing several insurers and asking about wind, hail or flood deductibles that may apply separately. The calculator above already includes this figure in the monthly estimate — replace it with a real quote when you have one.
Buying a home in North Dakota
Start from the sticker price: North Dakota's median home runs $270,000, about 36% more affordable than the national median of $420,000. Financed with 20% down over 30 years at roughly 6.5%, principal and interest alone is near $1,365/month; layering on property tax ($221/month at the state's 0.98% rate) and average insurance ($249/month) lifts the realistic monthly cost to about $1,835. HOA dues and PMI (below 20% down) would come on top. Since the property-tax rate sits below the U.S. average, that line item matters less in North Dakota than in most states — try your own numbers in the calculator to see the effect.