Total monthly cost of ownership
Cost to Own a Home in Oakes, North Dakota
A $160,000 home here costs
$1,365per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $823. The real number is $542 higher every month — 66% 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.
Oakes against Dickey County and North Dakota
| Measure | Oakes | Dickey County |
|---|---|---|
| Median home value | $160,100 | $167,100 |
| Median property tax | $1,800 | $1,538 |
| Effective tax rate | 1.124% | 0.920% |
| Median gross rent | $740 | $749 |
| Population | 2,046 | 4,959 |
The weather behind that power bill
Oakes sits in Dickey County, which averages a high of 82.0°F in its hottest month and a low of 2.2°F in its coldest, with 24.25" of precipitation a year and 46% of it in a single three-month stretch. That climate drives 488 cooling and 8,515 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Dickey County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Dickey County
No other places of this size are published in Dickey County.
Full Dickey County cost breakdown · Every county in North Dakota
Common questions
How much does it cost to own a home in Oakes?
A $160,000 home in Oakes, North Dakota costs approximately $1,365 per month with 20% down at 6.66%. That is $823 principal and interest, $150 property tax, $69 homeowners insurance, $190 utilities and $133 set aside for maintenance.
What is the property tax rate in Oakes?
Oakes has an effective property tax rate of 1.124%, based on a median home value of $160,100 and median real estate taxes of $1,800. That is higher than the Dickey County average of 0.920%.
What is the average home price in Oakes?
The median owner-occupied home value in Oakes, North Dakota is $160,100, against $167,100 across Dickey County.
Is it cheaper to rent or buy in Oakes?
Median gross rent in Oakes is $740 a month, against $1,365 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 Oakes — 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.