Total monthly cost of ownership
Cost to Own a Home in Oakes, North Dakota
A $160,000 home here costs
$1,429per 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 $61,000 a year.
A standard mortgage calculator would have told you $872. The real number is $557 higher every month, 64% more than the payment most buyers budget for.
Compare Dickey County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Oakes from a five-year rolling sample, and with about 2,046 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 Dickey 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.
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 $137 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
Talk to someone who works this market
These are Oakes 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 Oakes every week. Free, no obligation, and we never sell your details to a list.
Common questions
How much does it cost to own a home in Oakes?
A $160,000 home in Oakes, North Dakota costs approximately $1,429 per month with 20% down at 7.24%. That is $872 principal and interest, $150 property tax, $69 homeowners insurance, $205 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 $1,429 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 Oakes?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Oakes, North Dakota at today's rate takes a household income of roughly $61,000 a year. That covers the full $1,429 monthly cost, not just the mortgage payment.
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.