Metro area index
Home appreciation in the Fargo, ND-MN metro area
FHFA HPI® data shows the Fargo, ND-MN metro area's all-transactions index changed +4.2% over the year to Q2 2026, versus +4.7% for North Dakota and +3.0% for the U.S. That ranks 146th of 410 metro areas and divisions FHFA tracks.
- 1-year change
- +4.2%
- 5-year change
- +35.6%
- Since Q1 1995
- +265%
- Metro rank (1 year)
- 146th
U.S. +3.0%
U.S. +41.3%
U.S. +292%
of 410
Fargo, ND-MN vs North Dakota and the U.S.
FHFA HPI® all-transactions index, rebased so Q1 1995 = 100, through Q2 2026
- Fargo, ND-MN: 365.4
- North Dakota: 392.9
- United States: 391.6
Appreciation by time window
| Window | Metro | ND | U.S. | Gap vs ND | Gap vs U.S. |
|---|---|---|---|---|---|
| 1 year | +4.2% | +4.7% | +3.0% | −0.4 pts | +1.2 pts |
| 3 years | +14.1% | +14.8% | +12.9% | −0.7 pts | +1.3 pts |
| 5 years | +35.6% | +35.5% | +41.3% | +0.1 pts | −5.6 pts |
| 10 years | +58.9% | +53.0% | +93.3% | +5.8 pts | −34.4 pts |
| Since Q1 1995 | +265% | +293% | +292% | −27.5 pts | −26.1 pts |
3-digit ZIP regions in the Fargo, ND-MN area
Regions with at least 10% of their 2010 population inside the metro, largest overlap first. A 3-digit ZIP region can extend beyond the metro boundary.
| 3-digit ZIP region | State | 1 year | 5 years | Since Q1 1995 | Population in metro |
|---|---|---|---|---|---|
| 581 · Fargo, ND area | ND | +4.6% | +35.1% | +255% | 100% |
| 580 · West Fargo, ND area | ND | +2.0% | +35.6% | +270% | 52% |
| 565 · Moorhead, MN area | MN | +6.9% | +42.2% | +313% | 35% |
Boom, bust, and recovery in Fargo, ND-MN area
Fargo, ND-MN area's index peaked in Q2 2009, fell 1.5% to its low in Q2 2010, and regained its peak in Q4 2010, about 1.5 years after the top. Today it sits +105% versus that 2000s peak. How every state and ZIP region fared
| Area | 2000s peak | Low point | Peak to low | Back to peak | Today vs peak |
|---|---|---|---|---|---|
| Metro | Q2 2009 | Q2 2010 | -1.5% | Q4 2010 (1.5 yrs) | +105% |
| ND | Q4 2009 | — | No meaningful drop | — | +114% |
| U.S. | Q1 2007 | Q2 2012 | -19.0% | Q4 2016 (9.8 yrs) | +89.3% |
Appreciation after inflation
Adjusting for consumer price inflation, Fargo, ND-MN area's index has changed +65.0% in real terms since Q1 1995. Home prices vs inflation
| Window | Inflation (CPI-U) | Metro after inflation | ND after inflation | U.S. after inflation |
|---|---|---|---|---|
| 1 year | +3.9% | +0.4% | +0.8% | -0.8% |
| 3 years | +9.8% | +3.9% | +4.6% | +2.8% |
| 5 years | +24.0% | +9.4% | +9.3% | +13.9% |
| 10 years | +39.1% | +14.2% | +10.0% | +39.0% |
| Since Q1 1995 | +121% | +65.0% | +77.5% | +76.8% |
If you bought in the Fargo, ND-MN area in…
An example $300,000 purchase grown at the metro index rate to Q2 2026.
| Bought in | Index change | $300,000 then, at the metro rate |
|---|---|---|
| Q2 1995 | +262% | $1,085,436 |
| Q2 2000 | +206% | $917,091 |
| Q2 2005 | +122% | $667,127 |
| Q2 2010 | +109% | $625,986 |
| Q2 2015 | +68.2% | $504,459 |
| Q2 2020 | +45.4% | $436,091 |
| Q2 2021 | +35.6% | $406,907 |
| Q2 2023 | +14.1% | $342,409 |
| Q2 2025 | +4.2% | $312,716 |
Frequently asked questions
- How much have home prices risen in the Fargo, ND-MN area?
- FHFA HPI® data for the Fargo, ND-MN metro area shows changes of +4.2% over one year, +35.6% over five years, and +58.9% over ten years to Q2 2026, and +265% since Q1 1995.
- Is the Fargo, ND-MN area beating the national average?
- Over the past year the metro's index moved +1.2 pts versus the U.S.; over five years the gap is −5.6 pts.
- What area does this metro index cover?
- FHFA computes metro indexes using the counties in each OMB-defined metropolitan statistical area. The index covers the whole area, so individual neighborhoods and homes can differ from it.