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Real Estate

Real Estate

The Fargo Moorhead West Fargo region offers affordable housing options in a strong market, from trendy condominiums to comfortable community life or even a home on the lake. You’ll find easy access to grocery stores, shopping, dining and nightlife in any part of the city.
 

Average Home Purchase Price $224.536

Includes existing homes and new construction in the Fargo MLS
Source: Fargo Moorhead Association of Realtors, 2016
 

Apartment Rental Ranges 829/month

2 Bed/2 Bath, approx. 950 square feet, less than 10 years old: $829/month
Source: C2ER, GFMEDC (First Quarter 2015)
 

Home Rental Ranges $1,000 to $1,500

Source: Coldwell Banker First Realty, December 2015<
 

Single Dwelling Unites Built in 2015

Includes single-family, townhomes, twin homes and row houses

City # of Homes
Barnesville, MN 6
Casselton, ND 8
Dilworth, MN 27
Hawley, MN 10
Mapleton, ND 22
Moorhead 209
Fargo 377
West Fargo 543

Sources: Home Builders Association of Fargo Moorhead, Barnesville Economic Development Authority and the City of Mapleton.
 

Number of Homes on the Market

(New Construction and Pre-owned)

  • Single Family: 743
  • Twin Homes: 62
  • Condos/Townhomes: 80

Source: FM Area Association of Realtors
 

Building Permits

2015 was a strong year for construction activity in FMWF. Dilworth, Fargo, Moorhead and West Fargo collectively brought in over $800 million through 4,421 building permits, the second-highest since 2008.

Compared to 2014, total construction value was down 41%, but is due to many multi-family projects and the Sanford hospital work.

Housing starts for all communities combined to hit 1,176, accounted for 27% of total permits issued, and reached the second-highest level since 2005. Single-family permits were up 7% overall while twinhome and rowhouse/townhouse permits dropped a bit.

Fargo saw a major jump in total number of housing permits with a 40% increase over 2014’s total. Residential remodeling permits were up by 11% with each community experiencing an increase in 2015. Compared to the five-year average, all construction categories were up except for commercial remodeling.
 

Resources

Whether you’re a new resident or current community member, there are many programs out there to help with your housing needs. Area cities offer tax incentives on new construction that offer significant savings.

Considering a Move?
For details regarding housing incentives and tax exemptions in each community, visit the Home Builders Association of F-M.

From realtors to apartment hunters, moving vans to storage units, visit our Business Directory for referrals of members to help with all your moving needs or call 218.233.1100.
 

New Construction Incentives

Fargo and West Fargo

  • Up to $4,000 savings on property tax bills with newly built home purchase
  • Exemption up to $150,000 off property valuation for two taxable years following the year home was sold on newly constructed single-family homes, townhomes and condominiums available to the first owner after the builder who resides on the property.

Dilworth and Moorhead

  • Two-year property tax rebate on newly built homes
  • Full general taxes rebate check at year-end for two years
  • Homebuyer assistance through state and local governments

North Dakota
Zero-interest, deferred payment loans through North Dakota Finance Agency’s Down Payment and Closing Cost Assistance Program. Possible eligibility for 3% of the purchase price of the home or $3,000.

For more information, visit ndhfa.org or contact a participating lender.

Minnesota
Minnesota Housing first-time and move-up buyer programs are available to eligible buyers in Moorhead and Dilworth. These state housing programs give home buyers several options for down payment/closing cost assistance and mortgage financing, depending on income and borrower eligibility.

A number of local lenders participate in Minnesota Housing programs, including Start Up and Step Up low-interest mortgage and down-payment programs.

Moorhead first-time buyers can take advantage of the First & New Program, a zero-interest $5,000 deferred special assessment loan, when purchasing a newly constructed home.
Source: Home Builders Association of Fargo Moorhead, 2016

For more information, please contact your city auditor’s office.

 
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