Apartments in Bennett Fargo

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3500 R3 3500 38th Ave S Fargo, ND
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$1,035 - 1,385
3700 42nd St S Fargo, ND
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Fargo:
May Rent Report

Welcome to the May 2024 Fargo Apartment Report. In this assessment of the local rental market, Rentable data scientists and rental experts break down the May 2024 key findings and figures for the Fargo rental landscape.

Our experts analyze the pricing trends — one-bedroom, two-bedroom, year-over-year and month-over-month — in Fargo and surrounding areas and provide comparisons to the entire metro area, nearby cities and some of the most desirable and expensive cities in the United States. Take a look at the last 12 months of Fargo average rent prices in the chart below.

Monthly Rent Report

$950
$710
$480
$240
$0
Jun. 2023
Jul. 2023
Aug. 2023
Sep. 2023
Oct. 2023
Nov. 2023
Dec. 2023
Jan. 2024
Feb. 2024
Mar. 2024
Apr. 2024
May. 2024
1 BR       2 BR

Fargo Rent Prices Decrease From April to May

Fargo rent prices decreased over the last month. From April to May, the city experienced a -0.92% decrease for the price of a one-bedroom apartment. The rent price for a Fargo one-bedroom apartments currently stands at $857.0.

When we take a look at the two-bedroom comparison from April to May, Fargo experienced a -0.78% decrease for the price of a two-bedroom apartment. The rent price for a Fargo two-bedroom apartments currently stands at $892.0.

May Prices: Fargo vs. Surrounding Areas

Moorhead, MN
West Fargo, ND
Fargo, ND
$971
$875
$865
$0
$350
$700
$1,050
$1,400
Median 1 BR Rent

Rent Prices in Fargo and Surrounding Areas

Rent prices have decreased in Fargo over the last month. But how have the surrounding areas fared when it comes to the recent volatility in apartment prices? Rent prices in 1 of the Fargo suburb increased last month. On the other hand, 1 local areas experienced a decrease in the price of a one-bedroom apartment.

More key findings include:

  • Rent increased in West Fargo, ND .

  • Rent decreased in Moorhead, MN.

  • 2 suburbs are currently priced higher than the city of Fargo.

May 2024 Pricing Trends: Fargo vs. National Comparisons

New York, NY
San Francisco, CA
Washington, DC
Los Angeles, CA
Chicago, IL
Columbus, OH
Minneapolis, MN
Pittsburgh, PA
Fargo, ND
$4,056
$3,039
$2,377
$2,336
$1,913
$1,300
$1,283
$1,178
$865
$0
$1,350
$2,700
$4,050
$5,400
Median Rent

Fargo Rent Prices More Affordable Than Major Cities

Rent growth in Fargo over the past year has been declining. When compared to major cities nearby, along with some of the most expensive cities in the country, Fargo average rent prices appear to be relatively affordable for local residents.

The price for a Fargo one-bedroom apartment remains vastly more affordable than four of the largest cities in the United States — New York City, Washington, D.C. San Francisco and Los Angeles. And pricing compares quite similarly to nearby Midwest cities.

For more information about Fargo and surrounding area rent prices, take a look at the complete data set below.

Data set for Fargo and suburbs

1 BR May 1 BR M/M % Change 2 BR May 2 BR M/M % Change
Fargo, ND $865.0 -2.04% $899.0 0.22%
Moorhead, MN $971.0 -0.31% $1,105.0 3.37%
West Fargo, ND $875.0 1.04% $915.0 0.22%

Methodology

Each month, using over 1 million Rentable listings across the United States, we calculate the median 1-bedroom and 2-bedroom rent prices by city, state, and nation, and track the month-over-month percent change. To avoid small sample sizes, we restrict the analysis for our reports to cities meeting minimum population and property count thresholds.