Total monthly cost of ownership
Cost to Own a Home in Horace, North Dakota
A $445,000 home here costs
$3,617per month, all in, with 20% down at today's 7.32% 30-year fixed rate. By the 28% rule that takes a household income of about $155,000 a year.
A standard mortgage calculator would have told you $2,445. The real number is $1,171 higher every month, 48% more than the payment most buyers budget for.
Compare Cass County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Horace from a five-year rolling sample, and with about 3,964 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 Cass 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.
Horace against Cass County and North Dakota
| Measure | Horace | Cass County |
|---|---|---|
| Median home value | $444,600 | $284,700 |
| Median property tax | $4,839 | $3,449 |
| Effective tax rate | 1.088% | 1.211% |
| Median gross rent | $963 | $930 |
| Population | 3,964 | 189,286 |
The weather behind that power bill
Horace sits in Cass County, which averages a high of 80.8°F in its hottest month and a low of -1.4°F in its coldest, with 24.2" of precipitation a year and 47% of it in a single three-month stretch. That climate drives 449 cooling and 9,115 heating degree days, which is what sets the $138 electricity line above.
See the full climate breakdown for Cass County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Cass County
Full Cass County cost breakdown · Every county in North Dakota
Talk to someone who works this market
These are Horace 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 Horace every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Horace I already own here and may sell
Common questions
How much does it cost to own a home in Horace?
A $445,000 home in Horace, North Dakota costs approximately $3,617 per month with 20% down at 7.32%. That is $2,445 principal and interest, $403 property tax, $191 homeowners insurance, $206 utilities and $371 set aside for maintenance.
What is the property tax rate in Horace?
Horace has an effective property tax rate of 1.088%, based on a median home value of $444,600 and median real estate taxes of $4,839. That is lower than the Cass County average of 1.211%.
What is the average home price in Horace?
The median owner-occupied home value in Horace, North Dakota is $444,600, against $284,700 across Cass County.
Is it cheaper to rent or buy in Horace?
Median gross rent in Horace is $963 a month, against $3,617 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 Horace?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Horace, North Dakota at today's rate takes a household income of roughly $155,000 a year. That covers the full $3,617 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Horace, 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.