North Dakota News

North Dakota takes the lead as the most affordable state for renters

Fargo, North Dakota – The Fargo-Moorhead region has experienced significant growth, and a recent study has revealed that it holds the top spot as the most renter-friendly place in the United States.

According to the study, the top three states for renters in 2023 are Iowa, South Dakota, and North Dakota, which ranks first.

North Dakota residents enjoy the lowest rent-to-income ratio nationwide. With a median overall rent of $853, which represents approximately 25% of residents’ monthly household income, North Dakota demonstrates affordability. In Fargo, the median rent is slightly higher at $1,014 per month.

Additionally, North Dakota boasts the highest vacancy rate in the country at 12.2%, providing renters with an abundance of housing options to choose from.

Josh Verghis, a Leasing Agent at Valley Rental, expressed satisfaction with the positive outcomes and affirmed their commitment to serving their customers. He mentioned their centralized leasing market, where they gather information and analyze all nine properties they manage in Fargo to find the most suitable options for renters. They take into account factors such as pet-friendly locations, smoke-free environments, and other preferences to ensure a seamless and hassle-free experience.

In contrast, the study reveals that California is the least favorable place to rent, with average prices reaching close to $1,700 per month. However, it is important to note that California’s median state income is approximately $20,000 higher per year.

Jimmy Hathaway

Having spent my formative years in the beloved city of Grand Forks, I eventually relocated to Fargo during my second decade of life. The passion for journalism runs deep within my bloodline, as numerous close relatives have been, and some continue to be, engaged in the field as reporters and journalists. Outside of my professional pursuits, I cherish the moments spent in the company of my family.

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