Fargo Real Estate Market: Neighborhoods & Market Trends

Fargo Real Estate: Homes, Neighborhoods & Market Trends

Fargo, North Dakota is a bustling city with a thriving real estate market. With a growing population and a robust economy, Fargo is a great place to invest in real estate. Whether you are looking to buy your first home or are an experienced investor, this guide provides everything you need to know about the Fargo real estate market.

Explore the thriving Fargo real estate market. Discover neighborhoods, property types, and valuable resources for buyers and sellers.

Table of Contents

1. Fargo–Moorhead Real Estate Trends
2. Emerging Home Types in Fargo’s New Construction
3. Location and Demographics
4. Real Estate Market Overview
5. Types of Properties Available in Fargo
6. Neighborhoods to Consider in Fargo
7. Newest Neighborhoods in Fargo
8. Frequently Asked Questions
9. Conclusion

Fargo–Moorhead Real Estate Trends

The Fargo–Moorhead housing market shows a mixed picture as of May 2025. According to Jim and Shannon, Fargo’s median listing price climbed to $419K, up 7.6% year-over-year, while neighboring Moorhead’s median slipped to $296K, down 4.5% in the same period. Zillow’s Home Value Index puts Fargo’s average home value at $316,579, marking a 3.5% annual gain. This divergence underscores surging demand in Fargo even as tighter inventory tempers growth across the river.

Emerging Home Types in Fargo’s New Construction

In 2025, Fargo’s new-build wave is anchored by single-level, no-basement patio and ranch-style homes—offering low-maintenance living and open-concept layouts ideal for downsizers and busy professionals. At the same time, modern townhouses and contemporary condos are gaining traction, with customizable floor plans and upscale finishes. Meanwhile, multi-family apartment construction has surged, with an estimated 520 new units delivered in 2024—including student-focused projects near NDSU and affordable downtown developments—catering to renters and investors alike.

Location and Demographics

Fargo is located in Cass County, North Dakota and is the largest city in the state. The city has a population of approximately 123,000 residents and is home to North Dakota State University, which has a student population of over 14,000. Fargo has a diverse economy with industries such as healthcare, education, and technology all playing a major role. The city has a strong job market, with a low unemployment rate and high median household income, making it an attractive place to live for both families and professionals.

Real Estate Market Overview

The Fargo housing market has shown notable fluctuations in median sold prices across different home sizes:

• 1-bedroom homes: 14% decrease year-over-year
• 2-bedroom homes: 3.6% increase
• 3-bedroom homes: 3.9% increase
• 4-bedroom homes: 0.1% decline
• 5+ bedroom homes: 8.7% increase

In April 2024, West Fargo echoed similar trends:

• 1-bedroom: 11.9% decrease
• 2-bedroom: 7.9% decrease
• 3-bedroom: 11.4% increase
• 4-bedroom: 0.2% increase
• 5+ bedroom: 9% increase

Long-term, median home prices are projected to hit approximately $303,041 by August 31, 2029—a 13.27% gain over five years.

Types of Properties Available in Fargo

Fargo’s market offers single-family homes, townhouses, apartments, and new-construction builds. Vintage ranches from the 1950s–60s coexist with energy-efficient modern designs. Townhomes and mid-rise condos are rising in the city center and suburbs.

Neighborhoods to Consider in Fargo

• Southside: Family-friendly streets, Southpointe Park, Fargo South High School.
• North Fargo: Large yards, Island Park, Bonanzaville history.
• Downtown Fargo: Walkable core, Fargo Theatre, Fargodome, lively dining and nightlife.
• West Fargo: Top schools, Sports Arena, The Village Green shopping.
• Southwest Fargo: Rapid development, West Acres Mall proximity.

Newest Neighborhoods in Fargo

1. Southwest Fargo: New residential/commercial projects near West Acres Mall.
2. Osgood: Southern district, family parks, modern amenities.
3. Prairie Farms: Growing community, outdoor spaces.
4. Shadow Creek: Planned community, walking trails.
5. The Wilds: Mix of ranches and townhouses, green spaces.
6. The Preserve: Sustainability-focused, scenic settings.
7. Brookwood: Contemporary homes near schools and parks.

Frequently Asked Questions

Is now the right time to buy in Fargo-Moorhead?

Yes—homes hover in the mid-$200,000s and inventory remains steady. Lock in low rates before they rise!

What’s the average home price?

About $419K in Fargo (up 7.6%), $296K in Moorhead (down 4.5%), per May 2025 data.

Which neighborhoods are best for families?

Southside (Fargo) and Horizon Shores (Moorhead) shine with parks and top schools.

Are there up-and-coming areas?

Keep an eye on Osgood, The Wilds, Prairie Farms, and Shadow Creek.

Buyer’s or seller’s market?

Balanced—sellers still get strong offers, buyers avoid frantic bidding wars.

How long on market?

About 30–45 days for well-priced homes; fixer-uppers take longer.

Types of homes available?

Ranches, patio homes, condos, townhomes, and off-market listings.

Property taxes?

Moderate—around 1.2%–1.5% of assessed value.

School quality?

Above state average—strong STEM, arts, and sports.

Out-of-state buyers?

No residency requirement—remote closings and local managers simplify the process.

First-time buyer financing?

FHA, USDA, NDSTAR grants, and local bank programs.

New construction trends?

Patio homes, ranches, townhouses, condos, and over 500 new apartments in 2024.

HOA fees?

Common in condos/townhomes—$200–$300/month.

Rental market?

4%–6% cap rates; NDSU-area student housing commands premiums.

Weather impact?

Prepare for harsh winters—insulation, storm windows, reliable furnaces are key.

Off-market listings?

Yes—Modern Market REALTORS® often have private, pre-MLS opportunities.

Multiple offers?

Less chaotic than coasts—strong offers win without 20-bid frenzy.

Building codes?

Cass & Clay counties enforce energy-efficiency and setback rules.

Virtual tours?

3D tours and live video walk-throughs are standard.

How to get started?

Contact Jim & Shannon at Modern Market REALTORS® for seamless service.

Conclusion

The Fargo real estate market offers diverse options and strong investment potential. With a solid job market, rising prices, and vibrant communities, Fargo-Moorhead is ideal for first-time buyers and seasoned investors alike.

Ready to Buy or Sell? Contact Us!

Jim & Shannon are lifelong Red River Valley locals turned real estate experts who blend data-driven insights with Midwestern warmth to guide you through every step of buying or selling a home. Welcome to Fargo-Moorhead—your next chapter starts here. Live Where You Love.

Last updated: June 26, 2025