Total monthly cost of ownership
Cost to Own a Home in Park River, North Dakota
A $119,000 home here costs
$1,100per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $612. The real number is $489 higher every month — 80% 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.
Park River against Walsh County and North Dakota
| Measure | Park River | Walsh County |
|---|---|---|
| Median home value | $118,600 | $125,700 |
| Median property tax | $1,769 | $1,389 |
| Effective tax rate | 1.492% | 1.105% |
| Median gross rent | $892 | $766 |
| Population | 1,483 | 10,488 |
The weather behind that power bill
Park River sits in Walsh County, which averages a high of 80.7°F in its hottest month and a low of -3.1°F in its coldest, with 21.74" of precipitation a year and 46% of it in a single three-month stretch. That climate drives 384 cooling and 9,533 heating degree days, which is what sets the $122 electricity line above.
See the full climate breakdown for Walsh County — month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Walsh County
Full Walsh County cost breakdown · Every county in North Dakota
Common questions
How much does it cost to own a home in Park River?
A $119,000 home in Park River, North Dakota costs approximately $1,100 per month with 20% down at 6.66%. That is $612 principal and interest, $148 property tax, $51 homeowners insurance, $190 utilities and $99 set aside for maintenance.
What is the property tax rate in Park River?
Park River has an effective property tax rate of 1.492%, based on a median home value of $118,600 and median real estate taxes of $1,769. That is higher than the Walsh County average of 1.105%.
What is the average home price in Park River?
The median owner-occupied home value in Park River, North Dakota is $118,600, against $125,700 across Walsh County.
Is it cheaper to rent or buy in Park River?
Median gross rent in Park River is $892 a month, against $1,100 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 Park River — 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.