Total monthly cost of ownership
Cost to Own a Home in Carrington, North Dakota
A $142,000 home here costs
$1,338per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $57,500 a year.
A standard mortgage calculator would have told you $774. The real number is $564 higher every month, 73% more than the payment most buyers budget for.
Compare Foster County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Carrington from a five-year rolling sample, and with about 2,171 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Foster County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Carrington against Foster County and North Dakota
| Measure | Carrington | Foster County |
|---|---|---|
| Median home value | $141,800 | $162,800 |
| Median property tax | $2,148 | $2,092 |
| Effective tax rate | 1.515% | 1.285% |
| Median gross rent | $743 | $756 |
| Population | 2,171 | 3,372 |
The weather behind that power bill
Carrington sits in Foster County, which averages a high of 81.7°F in its hottest month and a low of -1.5°F in its coldest, with 20.77" of precipitation a year and 49% of it in a single three-month stretch. That climate drives 419 cooling and 9,262 heating degree days, which is what sets the $137 electricity line above.
See the full climate breakdown for Foster County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Foster County
No other places of this size are published in Foster County.
Full Foster County cost breakdown · Every county in North Dakota
Talk to someone who works this market
These are Carrington averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Carrington every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Carrington I already own here and may sell
Common questions
How much does it cost to own a home in Carrington?
A $142,000 home in Carrington, North Dakota costs approximately $1,338 per month with 20% down at 7.24%. That is $774 principal and interest, $179 property tax, $61 homeowners insurance, $205 utilities and $118 set aside for maintenance.
What is the property tax rate in Carrington?
Carrington has an effective property tax rate of 1.515%, based on a median home value of $141,800 and median real estate taxes of $2,148. That is higher than the Foster County average of 1.285%.
What is the average home price in Carrington?
The median owner-occupied home value in Carrington, North Dakota is $141,800, against $162,800 across Foster County.
Is it cheaper to rent or buy in Carrington?
Median gross rent in Carrington is $743 a month, against $1,338 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Carrington?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Carrington, North Dakota at today's rate takes a household income of roughly $57,500 a year. That covers the full $1,338 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Carrington, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for North Dakota.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.