Total monthly cost of ownership
Cost to Own a Home in Lincoln, North Dakota
A $259,000 home here costs
$2,131per 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 $91,500 a year.
A standard mortgage calculator would have told you $1,412. The real number is $719 higher every month, 51% more than the payment most buyers budget for.
Compare Burleigh County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Lincoln from a five-year rolling sample, and with about 4,309 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 Burleigh 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.
Lincoln against Burleigh County and North Dakota
| Measure | Lincoln | Burleigh County |
|---|---|---|
| Median home value | $259,400 | $314,700 |
| Median property tax | $2,245 | $2,764 |
| Effective tax rate | 0.865% | 0.878% |
| Median gross rent | $1,222 | $996 |
| Population | 4,309 | 98,986 |
The weather behind that power bill
Lincoln sits in Burleigh County, which averages a high of 84.7°F in its hottest month and a low of 2.4°F in its coldest, with 19.05" of precipitation a year and 47% of it in a single three-month stretch. That climate drives 536 cooling and 8,471 heating degree days, which is what sets the $137 electricity line above.
See the full climate breakdown for Burleigh County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Burleigh County
Full Burleigh County cost breakdown · Every county in North Dakota
Talk to someone who works this market
These are Lincoln 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 Lincoln every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Lincoln I already own here and may sell
Common questions
How much does it cost to own a home in Lincoln?
A $259,000 home in Lincoln, North Dakota costs approximately $2,131 per month with 20% down at 7.24%. That is $1,412 principal and interest, $187 property tax, $111 homeowners insurance, $205 utilities and $216 set aside for maintenance.
What is the property tax rate in Lincoln?
Lincoln has an effective property tax rate of 0.865%, based on a median home value of $259,400 and median real estate taxes of $2,245. That is lower than the Burleigh County average of 0.878%.
What is the average home price in Lincoln?
The median owner-occupied home value in Lincoln, North Dakota is $259,400, against $314,700 across Burleigh County.
Is it cheaper to rent or buy in Lincoln?
Median gross rent in Lincoln is $1,222 a month, against $2,131 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 Lincoln?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Lincoln, North Dakota at today's rate takes a household income of roughly $91,500 a year. That covers the full $2,131 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Lincoln, 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.