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RentData.org Logo Fargo Fair Market Rent FY 2022 Fargo, ND-MN MSA Rental Data

Fair Market Rent Prices in Fargo, MN :
$597 $705 $859 $1,220 $1,470
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 77% of other FMR areas. Fair Market Rent for a two-bedroom apartment in Fargo is $859 per month.

The previous year, rent for a two-bedroom home was $873 per month. This is a 1.6% decrease year-over-year.

This FMR rate applies to Borup, MN, Comstock, MN, Felton, MN, Georgetown, MN, Perley, MN, Wolverton, MN, Sabin, MN, Glyndon, MN, Barnesville, MN, Dilworth, 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 one county or city in Minnesota which is listed in the table below. Estimated population of Fargo, ND-MN MSA FMR area is 62,040 people based on latest Census data.

Compared to the rest of Minnesota, the Fargo FMR area is more expensive than 86% of the state.

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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 $ 636
1-BR 1-Bedroom $ 751
2-BR 2-Bedroom $ 915
3-BR 3-Bedroom $ 1300
4-BR 4-Bedroom $ 1566
Change Year:

There is just one county (listed below) within the Fargo, ND-MN MSA FMR area (most regions, especially metro areas, cover multiple counties). This FMR area covers one metro area: Fargo - Valley City.

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

There are 14 unique zip codes in this Fair Market Rent (FMR) area:

56514, 56519, 56525, 56529, 56536, 56546, 56547, 56560, 56561, 56562, 56563, 56574, 56580 and 56594

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