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Ramsey County, ND

Rent vs Own in Ramsey County, North Dakota

HUD prices a 2-bedroom in Ramsey County at $873/mo while the ownership stack lands near $1,231/mo. That mid-sized gap is large enough that rate or down-payment tweaks usually cannot close it alone. Owner-occupied homes: 2,950.

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Renting is cheaper in Ramsey County

A 2-bedroom rental here runs $873/mo, meaningfully below the $1,231/mo ownership stack on the default assumptions. That is a $358/mo difference.

Based on 20% down, 6.5% rate, 30-year mortgage. Adjust below.

What This Data Tells Us About Renting vs Owning in Ramsey County

Primary driver

Renting wins by a mid-sized monthly gap

Ramsey County lists a $199,300 median home with $1,976/yr property tax (0.99%). HUD's $873/mo 2-bedroom rent undercuts the ~$1,231/mo ownership stack by a mid-range margin of about $358/mo. Closing that gap usually takes more than a cosmetic rate tweak, price, tax load, or both.

Decision signal 2

Renting compares well inside the state

Using the assumptions above, Ramsey County ranks 42 of 53 North Dakota counties for buy-vs-rent value (rank 1 = the best relative deal for buying). It sits ahead of 11 other North Dakota counties on this measure.

Decision signal 3

HUD moved the rent benchmark down

HUD cut its 2-bedroom Fair Market Rent for Ramsey County from $928/mo in FY2025 to $873/mo in FY2026: it decreased by $55/mo (-5.9%). A falling benchmark narrows the case for buying here, and it usually reflects HUD re-estimating the local market rather than existing rents being cut.

Decision signal 4

Price and income sit in the middle band

Median household income is $61,006, for a 3.3x home-price-to-income ratio in the middle of the national distribution; property tax takes 3.2% of that income. Small changes in down payment or rate move this county across the rent-vs-own line more than they would in a high-ratio market.

Methodology & disclaimer

This calculator is for informational purposes only and is not tax, legal, or financial advice. Property tax figures come from the U.S. Census Bureau ACS 5-Year Estimates and rent figures come from HUD Fair Market Rents; both describe area medians, not individual transactions. Insurance is estimated at 0.35% of home value annually and closing costs, maintenance, HOA, and PMI are not included. Consult a licensed mortgage, tax, or real-estate professional before making a buy-or-rent decision based on these numbers.

Monthly Cost Breakdown

Estimated Monthly Ownership
$1,231
Mortgage (P&I) $1,008
Property Tax $165
Insurance (est.) $58
Monthly Rent (2-BR FMR)
$873
Studio$602
1-Bedroom$719
2-Bedroom$873
3-Bedroom$1,214
4-Bedroom$1,464

Adjust Your Scenario

Affordability Context

Median Household Income
$61,006
$5,084/mo
Home Price / Income
3.3x
Moderate (3-5x)
Tax-to-Income Ratio
3.2%
National benchmark: 2-4%

Who actually pays it here

In Ramsey County, once the mortgage ends staying put is close to free: the largest cluster of debt-free households faces a yearly charge under $800, so insurance and upkeep, not the tax office, set what the home costs to keep.

Ramsey County matches the national pattern: six-figure earners between $100,000 and $200,000 account for more of these write-offs than any other local group.

With ownership already mid-range more expensive than rent month-to-month, that annual bill reinforces why cash-flow renters stay put unless they are deliberately buying for tenure rather than monthly savings.

Bill bands are Census ACS counts of owner-occupied homes without a mortgage. Income brackets are IRS Statistics of Income county data for tax year 2022, counted over FILERS reporting real-estate taxes on Schedule A, which is a smaller group than homeowners: most filers take the standard deduction.

Nearby Counties

Cass County
Home: $298,000 Tax: $3,564/yr
Burleigh County
Home: $324,000 Tax: $2,863/yr
Ward County
Home: $267,100 Tax: $2,859/yr
Grand Forks County
Home: $252,700 Tax: $2,900/yr
Morton County
Home: $263,900 Tax: $2,686/yr
Stark County
Home: $271,700 Tax: $2,411/yr

Frequently Asked Questions

Is it cheaper to rent or buy in Ramsey County, North Dakota? ▼
Renting the HUD 2-bedroom is the clearer monthly path in Ramsey County by roughly $358/mo under default loan assumptions. Closing a gap this size usually needs a meaningfully lower price or rate, not a cosmetic tweak.
What is the average rent in Ramsey County? ▼
HUD prices a 2-bedroom unit at $873/mo here. Sizing up matters: going from a studio to a 4-bedroom adds about $862/mo, so the per-bedroom jump is worth checking against your actual space needs before assuming the 2-BR figure applies to your situation.
How much house can you afford in Ramsey County? ▼
On the common 3x-income guideline, a $61,006 household here can afford up to $183,018 -- about $16,282 short of this county's $199,300 median home. That gap is typically closed with a larger down payment, dual incomes, or a longer search outside the median price band.
How does Ramsey County compare to other North Dakota counties for renting vs buying? ▼
Out of 53 North Dakota counties ranked here on buy-vs-rent value, Ramsey County lands at spot 42, putting it in the more rent-favorable quarter of the state. The <a href="/states/north-dakota">North Dakota state page</a> lists every peer county's tax bill beside this one.
What is the median home price in Ramsey County? ▼
$199,300, per the Census Bureau's ACS 5-Year Estimates. The property tax on that value works out to roughly 0.99% a year, in line with typical rates for the area.
Is rent going up or down in Ramsey County? ▼
HUD's 2-bedroom Fair Market Rent figure has fallen 5.9% between the FY2025 and FY2026 publications, the two most recent years tracked here.

Read our methodology - how this data is sourced, computed, and verified.

Data sourced from the U.S. Census Bureau (American Community Survey). See our methodology for details. Retrieved and formatted by PlainPropertyTax

Source: U.S. Census Bureau, Government Finances State and local property tax revenue by jurisdiction · 2025

Verify with HUD →