Mortgage Calculator & Closing Costs: Devils Lake, ND
Mortgage payment estimates, closing cost breakdowns, and homebuying data for Devils Lake, North Dakota.
Median Home Price
$185K
Population
7K
Avg Monthly Rent
$750
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 Devils Lake.
Devils Lake vs North Dakota Median
The median home price in Devils Lake is $185,000, which is 27% below the North Dakota state median of $255,000.
Mortgage Calculator — Devils Lake, ND
Pre-filled with Devils Lake median home price and North Dakota tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $185K home using North Dakota's 0.98% tax rate and $2,100/yr insurance.
5% Down
$1,539/mo
Down: $9,250
Loan: $176K
P&I: $1,111
Tax: $151
Insurance: $175
PMI: $103
10% Down
$1,476/mo
Down: $18,500
Loan: $167K
P&I: $1,052
Tax: $151
Insurance: $175
PMI: $97
20% Down (No PMI)
$1,262/mo
Down: $37,000
Loan: $148K
P&I: $935
Tax: $151
Insurance: $175
Income needed (28% rule): $54K/year with 20% down, $63K/year with 10% down.
Rent vs Buy in Devils Lake
Rent
$750/mo
vs
Buy (10% down)
$1,476/mo
Price-to-rent ratio: 20.6 — At a ratio above 20, renting may be more economical in Devils Lake for shorter stays. Buying costs $726 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 Devils Lake is $185,000, 27% below the North Dakota state median of $255,000. With a population of 7,370, Devils Lake is a smaller market where home prices tend to be more accessible than in many parts of North Dakota.
Property taxes in North Dakota average 0.98% annually. This moderate property tax rate means a $185,000 home in Devils Lake would carry roughly $151/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 Devils Lake is $750/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.
Devils Lake offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with North Dakota's NDHFA FirstHome program.
Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Devils Lake.