Total monthly cost of ownership
Cost to Own a Home in Devils Lake, North Dakota
A $171,000 home here costs
$1,506per 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 $64,500 a year.
A standard mortgage calculator would have told you $932. The real number is $573 higher every month, 62% more than the payment most buyers budget for.
Compare Ramsey County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Devils Lake against Ramsey County and North Dakota
| Measure | Devils Lake | Ramsey County |
|---|---|---|
| Median home value | $171,000 | $197,400 |
| Median property tax | $1,831 | $1,847 |
| Effective tax rate | 1.071% | 0.936% |
| Median gross rent | $678 | $687 |
| Population | 7,170 | 11,563 |
The weather behind that power bill
Devils Lake sits in Ramsey County, which averages a high of 79.4°F in its hottest month and a low of -1.8°F in its coldest, with 19.98" of precipitation a year and 50% of it in a single three-month stretch. That climate drives 424 cooling and 9,428 heating degree days, which is what sets the $137 electricity line above.
See the full climate breakdown for Ramsey County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Ramsey County
No other places of this size are published in Ramsey County.
Full Ramsey County cost breakdown · Every county in North Dakota
Talk to someone who works this market
These are Devils Lake 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 Devils Lake every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Devils Lake I already own here and may sell
Common questions
How much does it cost to own a home in Devils Lake?
A $171,000 home in Devils Lake, North Dakota costs approximately $1,506 per month with 20% down at 7.24%. That is $932 principal and interest, $153 property tax, $73 homeowners insurance, $205 utilities and $143 set aside for maintenance.
What is the property tax rate in Devils Lake?
Devils Lake has an effective property tax rate of 1.071%, based on a median home value of $171,000 and median real estate taxes of $1,831. That is higher than the Ramsey County average of 0.936%.
What is the average home price in Devils Lake?
The median owner-occupied home value in Devils Lake, North Dakota is $171,000, against $197,400 across Ramsey County.
Is it cheaper to rent or buy in Devils Lake?
Median gross rent in Devils Lake is $678 a month, against $1,506 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 Devils Lake?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Devils Lake, North Dakota at today's rate takes a household income of roughly $64,500 a year. That covers the full $1,506 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Devils Lake, 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.