Total monthly cost of ownership
Cost to Own a Home in New Town, North Dakota
A $200,000 home here costs
$1,655per 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 $71,000 a year.
A standard mortgage calculator would have told you $1,090. The real number is $565 higher every month, 52% more than the payment most buyers budget for.
Compare Mountrail County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for New Town from a five-year rolling sample, and with about 2,725 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 Mountrail 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.
New Town against Mountrail County and North Dakota
| Measure | New Town | Mountrail County |
|---|---|---|
| Median home value | $199,700 | $222,200 |
| Median property tax | $1,286 | $1,172 |
| Effective tax rate | 0.644% | 0.527% |
| Median gross rent | $819 | $864 |
| Population | 2,725 | 9,567 |
The weather behind that power bill
New Town sits in Mountrail County, which averages a high of 80.3°F in its hottest month and a low of -0.6°F in its coldest, with 19.28" of precipitation a year and 49% of it in a single three-month stretch. That climate drives 272 cooling and 9,810 heating degree days, which is what sets the $137 electricity line above.
See the full climate breakdown for Mountrail County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Mountrail County
Full Mountrail County cost breakdown · Every county in North Dakota
Talk to someone who works this market
These are New Town 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 New Town every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in New Town I already own here and may sell
Common questions
How much does it cost to own a home in New Town?
A $200,000 home in New Town, North Dakota costs approximately $1,655 per month with 20% down at 7.24%. That is $1,090 principal and interest, $107 property tax, $86 homeowners insurance, $205 utilities and $167 set aside for maintenance.
What is the property tax rate in New Town?
New Town has an effective property tax rate of 0.644%, based on a median home value of $199,700 and median real estate taxes of $1,286. That is higher than the Mountrail County average of 0.527%.
What is the average home price in New Town?
The median owner-occupied home value in New Town, North Dakota is $199,700, against $222,200 across Mountrail County.
Is it cheaper to rent or buy in New Town?
Median gross rent in New Town is $819 a month, against $1,655 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 New Town?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in New Town, North Dakota at today's rate takes a household income of roughly $71,000 a year. That covers the full $1,655 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for New Town, 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.