Total monthly cost of ownership
Cost to Own a Home in Watford City, North Dakota
A $385,000 home here costs
$2,952per 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 $126,500 a year.
A standard mortgage calculator would have told you $2,099. The real number is $853 higher every month, 41% more than the payment most buyers budget for.
Compare McKenzie County with anywhere in America · full county breakdown
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Watford City against McKenzie County and North Dakota
| Measure | Watford City | McKenzie County |
|---|---|---|
| Median home value | $385,100 | $357,300 |
| Median property tax | $1,942 | $1,473 |
| Effective tax rate | 0.504% | 0.412% |
| Median gross rent | $1,210 | $1,153 |
| Population | 6,016 | 14,280 |
The weather behind that power bill
Watford City sits in McKenzie County, which averages a high of 82.2°F in its hottest month and a low of 5.1°F in its coldest, with 15.65" of precipitation a year and 54% of it in a single three-month stretch. That climate drives 461 cooling and 8,765 heating degree days, which is what sets the $137 electricity line above.
See the full climate breakdown for McKenzie County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in McKenzie County
No other places of this size are published in McKenzie County.
Full McKenzie County cost breakdown · Every county in North Dakota
Talk to someone who works this market
These are Watford City 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 Watford City every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Watford City I already own here and may sell
Common questions
How much does it cost to own a home in Watford City?
A $385,000 home in Watford City, North Dakota costs approximately $2,952 per month with 20% down at 7.24%. That is $2,099 principal and interest, $162 property tax, $165 homeowners insurance, $205 utilities and $321 set aside for maintenance.
What is the property tax rate in Watford City?
Watford City has an effective property tax rate of 0.504%, based on a median home value of $385,100 and median real estate taxes of $1,942. That is higher than the McKenzie County average of 0.412%.
What is the average home price in Watford City?
The median owner-occupied home value in Watford City, North Dakota is $385,100, against $357,300 across McKenzie County.
Is it cheaper to rent or buy in Watford City?
Median gross rent in Watford City is $1,210 a month, against $2,952 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 Watford City?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Watford City, North Dakota at today's rate takes a household income of roughly $126,500 a year. That covers the full $2,952 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Watford City, 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.