Total monthly cost of ownership
Cost to Own a Home in Grand Forks, North Dakota
A $243,000 home here costs
$1,994per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $1,249. The real number is $745 higher every month — 60% more than the payment most buyers budget for.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Grand Forks against Grand Forks County and North Dakota
| Measure | Grand Forks | Grand Forks County |
|---|---|---|
| Median home value | $243,300 | $244,200 |
| Median property tax | $2,973 | $2,754 |
| Effective tax rate | 1.222% | 1.128% |
| Median gross rent | $958 | $971 |
| Population | 58,882 | 72,764 |
The weather behind that power bill
Grand Forks sits in Grand Forks County, which averages a high of 80.7°F in its hottest month and a low of -3.1°F in its coldest, with 21.74" of precipitation a year and 46% of it in a single three-month stretch. That climate drives 384 cooling and 9,533 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Grand Forks County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Grand Forks County
Full Grand Forks County cost breakdown · Every county in North Dakota
Common questions
How much does it cost to own a home in Grand Forks?
A $243,000 home in Grand Forks, North Dakota costs approximately $1,994 per month with 20% down at 6.66%. That is $1,249 principal and interest, $247 property tax, $104 homeowners insurance, $190 utilities and $203 set aside for maintenance.
What is the property tax rate in Grand Forks?
Grand Forks has an effective property tax rate of 1.222%, based on a median home value of $243,300 and median real estate taxes of $2,973. That is higher than the Grand Forks County average of 1.128%.
What is the average home price in Grand Forks?
The median owner-occupied home value in Grand Forks, North Dakota is $243,300, against $244,200 across Grand Forks County.
Is it cheaper to rent or buy in Grand Forks?
Median gross rent in Grand Forks is $958 a month, against $1,994 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Grand Forks — 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.