Mortgage payment estimates, closing cost breakdowns, and homebuying data for Bismarck, North Dakota.
Median Home Price
$295K
Population
74K
Avg Monthly Rent
$1,150
Property Tax Rate
0.98% *
* Property tax shown is the North Dakota state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Bismarck.
Bismarck vs North Dakota Median
The median home price in Bismarck is $295,000, which is 16% above the North Dakota state median of $255,000.
Mortgage Calculator — Bismarck, ND
Pre-filled with Bismarck median home price and North Dakota tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $295K home using North Dakota's 0.98% tax rate and $2,100/yr insurance.
5% Down
$2,351/mo
Down: $14,750
Loan: $280K
P&I: $1,771
Tax: $241
Insurance: $175
PMI: $163
10% Down
$2,249/mo
Down: $29,500
Loan: $266K
P&I: $1,678
Tax: $241
Insurance: $175
PMI: $155
20% Down (No PMI)
$1,908/mo
Down: $59,000
Loan: $236K
P&I: $1,492
Tax: $241
Insurance: $175
Income needed (28% rule): $82K/year with 20% down, $96K/year with 10% down.
Rent vs Buy in Bismarck
Rent
$1,150/mo
vs
Buy (10% down)
$2,249/mo
Price-to-rent ratio: 21.4 — At a ratio above 20, renting may be more economical in Bismarck for shorter stays. Buying costs $1,099 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Bismarck is $295,000, 16% above the North Dakota state median of $255,000. With a population of 73,622, Bismarck is a smaller market where home prices reflect strong demand and local economic factors.
Property taxes in North Dakota average 0.98% annually. This moderate property tax rate means a $295,000 home in Bismarck would carry roughly $241/month in property taxes. Homeowners insurance in North Dakota runs approximately $2,100 per year. This is within the normal range nationally.
Average rent in Bismarck is $1,150/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Bismarck presents moderate affordability. The $295K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Bismarck.