Mortgage payment estimates, closing cost breakdowns, and homebuying data for Grafton, North Dakota.
Median Home Price
$145K
Population
4K
Avg Monthly Rent
$650
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 Grafton.
Grafton vs North Dakota Median
The median home price in Grafton is $145,000, which is 43% below the North Dakota state median of $255,000.
Mortgage Calculator — Grafton, ND
Pre-filled with Grafton median home price and North Dakota tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $145K home using North Dakota's 0.98% tax rate and $2,100/yr insurance.
5% Down
$1,244/mo
Down: $7,250
Loan: $138K
P&I: $871
Tax: $118
Insurance: $175
PMI: $80
10% Down
$1,194/mo
Down: $14,500
Loan: $131K
P&I: $825
Tax: $118
Insurance: $175
PMI: $76
20% Down (No PMI)
$1,027/mo
Down: $29,000
Loan: $116K
P&I: $733
Tax: $118
Insurance: $175
Income needed (28% rule): $44K/year with 20% down, $51K/year with 10% down.
Rent vs Buy in Grafton
Rent
$650/mo
vs
Buy (10% down)
$1,194/mo
Price-to-rent ratio: 18.6 — A ratio between 15-20 means the rent vs buy decision in Grafton depends heavily on your timeline. If you plan to stay 5+ years, buying likely wins. For shorter stays, renting preserves flexibility.
The median home price in Grafton is $145,000, 43% below the North Dakota state median of $255,000. With a population of 4,284, Grafton 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 $145,000 home in Grafton would carry roughly $118/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 Grafton is $650/month. The price-to-rent ratio in Grafton is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Grafton 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 Grafton.