Total monthly cost of ownership
Cost to Own a Home in Park River, North Dakota
A $119,000 home here costs
$1,152per 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 $49,500 a year.
A standard mortgage calculator would have told you $649. The real number is $503 higher every month, 78% more than the payment most buyers budget for.
Compare Walsh County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Park River from a five-year rolling sample, and with about 1,483 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 Walsh 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.
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 $137 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
Talk to someone who works this market
These are Park River 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 Park River every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Park River I already own here and may sell
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 $1,152 per month with 20% down at 7.24%. That is $649 principal and interest, $148 property tax, $51 homeowners insurance, $205 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 $1,152 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 Park River?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Park River, North Dakota at today's rate takes a household income of roughly $49,500 a year. That covers the full $1,152 monthly cost, not just the mortgage payment.
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.