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Note: Fargo, ND-MN MSA spans 2 states: Minnesota and North Dakota. Only one of the states will be shown in the map below.

RentData.org Logo Fargo Fair Market Rent FY 2021 Fargo, ND-MN MSA Rental Data

Fair Market Rent Prices in Fargo, MN :
$593 $712 $873 $1,249 $1,512
Studio / Efficiency 1-Bedroom 2-Bedroom 3-Bedroom 4-Bedroom
0-BR 1-BR 2-BR 3-BR 4-BR
Moderate 40th Percentile Metro Area

Fair Market Rent prices in Fargo are high compared to the national average. This FMR area is more expensive than 82% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Fargo is $873 per month.

The previous year, rent for a two-bedroom home was $834 per month. This is a 4.68% increase year-over-year.

This FMR rate applies to Borup, MN, Comstock, MN, Amenia, ND, Felton, MN, Georgetown, MN, Arthur, ND, Absaraka, ND, Perley, MN, Ayr, ND, Wolverton, MN and other cities within the region. The Metro Code or CBSA code for this region is METRO22020M22020.

Additionally, This Fair Market Rent (FMR) area Fargo, ND-MN MSA spans two counties or cities in Minnesota and North Dakota which ares listed in the table below. Estimated population of Fargo, ND-MN MSA FMR area is 232,660 people based on latest Census data.

Compared to the rest of Minnesota, the Fargo FMR area is more expensive than 90% of the state.

Minnesota Rents Map

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What is Fair Market Rent?

Fair Market Rent is determined each fiscal year by the HUD and is used to set payment standards for federal housing assistance programs in Fargo. Fair Market Rent is the 40th-percentile of typical rentals in a given region. Learn more

Median Rent Prices in Fargo

To compute the 40th percentile of rent prices the HUD must determine the median or 50th percentile as well. 50th percentile rent prices are NOT fair market rents (unless otherwise noted as a 50th percentile designated region above). However, some home owners or rents may be interested in the median rent prices as well.

50th Percentile Rental Prices:
0-BR Studio / Efficiency $ 627
1-BR 1-Bedroom $ 754
2-BR 2-Bedroom $ 924
3-BR 3-Bedroom $ 1322
4-BR 4-Bedroom $ 1600
Change Year:
2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006

The counties, cities, towns, and regions listed below fall into the Fargo, ND-MN MSA FMR area and have the same Fair Market Rent prices which are listed above. This FMR area covers one metro area: Fargo - Valley City.

County / Region Est. Population
Clay County, MN Metro 62,040
Cass County, ND Metro 170,620
Zip Codes in Fargo, ND-MN MSA

There are 48 unique zip codes in this Fair Market Rent (FMR) area:

56514, 56519, 56525, 56529, 56536, 56546, 56547, 56560, 56561, 56562, 56563, 56574, 56580, 56594, 58002, 58004, 58005, 58006, 58007, 58011, 58012, 58015, 58021, 58029, 58035, 58036, 58038, 58042, 58047, 58048, 58051, 58052, 58059, 58078, 58079, 58102, 58103, 58104, 58105, 58106, 58107, 58108, 58109, 58121, 58122, 58124, 58125 and 58126

Lookup Fair Market Rent by Zip Code

What's Next?

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