Typical North Dakota mortgage payment
The median home price in North Dakota is roughly $260,000. Here's the estimated monthly principal & interest payment on that amount, by rate and term:
| Rate | 15-year | 30-year |
|---|---|---|
| 5.00% | $2,056 | $1,396 |
| 5.50% | $2,124 | $1,476 |
| 6.00% | $2,194 | $1,559 |
| 6.50% | $2,265 | $1,643 |
| 7.00% | $2,337 | $1,730 |
| 7.50% | $2,410 | $1,818 |
| 8.00% | $2,485 | $1,908 |
| 8.50% | $2,560 | $1,999 |
| 9.00% | $2,637 | $2,092 |
| 9.50% | $2,715 | $2,186 |
| 10.00% | $2,794 | $2,282 |
What a North Dakota mortgage really costs (PITI)
Principal & interest alone would run about $1,643/month at 6.50% over 30 years. But North Dakota's property tax - roughly 0.98% of home value per year here - adds about $212/month, and estimated homeowners insurance adds around $76/month. Your real total monthly payment (PITI) on a $260,000 North Dakota home is closer to $1,932/month.
Using the standard 28%-of-income guideline, comfortably affording this home takes a household income around $82,780/year. A 20% down payment here is $52,000.
North Dakota vs. its neighbors
North Dakota has the lowest estimated total monthly payment of its bordering states.
| State | Median price | Property tax rate | Est. total monthly (PITI) |
|---|---|---|---|
| North Dakota (this page) | $260,000 | 0.98% | $1,932/mo |
| South Dakota | $290,000 | 1.24% | $2,217/mo |
| Minnesota | $340,000 | 1.12% | $2,566/mo |
| Montana | $450,000 | 0.84% | $3,291/mo |
What affects your North Dakota payment?
- Property tax above is a statewide estimate - your county's actual rate may differ.
- Down payment: 20% down avoids private mortgage insurance (PMI).
- Loan term: a 15-year loan saves enormous interest vs. 30 years.
Median price, property tax rate and insurance are approximate estimates, not county-specific figures. Not financial advice.