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Richland County, ND

Rent vs Own in Richland County, North Dakota

HUD prices a 2-bedroom in Richland County at $873/mo while the ownership stack lands near $1,154/mo. That mid-sized gap is large enough that rate or down-payment tweaks usually cannot close it alone. Owner-occupied homes: 4,665.

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Renting is cheaper in Richland County

A 2-bedroom rental here runs $873/mo, meaningfully below the $1,154/mo ownership stack on the default assumptions. That is a $281/mo difference.

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

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

Primary driver

Income supports the median purchase price

Median household income is $75,432, and the 2.4x home-price-to-income ratio leaves room for the ownership stack (property tax alone is 2.7% of median income). The monthly gap above is more about mortgage rate and insurance assumptions than about the purchase price being out of reach.

Decision signal 2

Renting wins by a mid-sized monthly gap

Richland County lists a $183,600 median home with $2,066/yr property tax (1.13%). HUD's $873/mo 2-bedroom rent undercuts the ~$1,154/mo ownership stack by a mid-range margin of about $281/mo. Closing that gap usually takes more than a cosmetic rate tweak, price, tax load, or both.

Decision signal 3

Renting compares well inside the state

Using the assumptions above, Richland County ranks 39 of 53 North Dakota counties for buy-vs-rent value (rank 1 = the best relative deal for buying). It sits ahead of 14 other North Dakota counties on this measure.

Decision signal 4

HUD moved the rent benchmark down

HUD cut its 2-bedroom Fair Market Rent for Richland 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.

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
$1,154
Mortgage (P&I) $928
Property Tax $172
Insurance (est.) $54
Monthly Rent (2-BR FMR)
$873
Studio$661
1-Bedroom$665
2-Bedroom$873
3-Bedroom$1,214
4-Bedroom$1,464

Adjust Your Scenario

Affordability Context

Median Household Income
$75,432
$6,286/mo
Home Price / Income
2.4x
Affordable (≤3x)
Tax-to-Income Ratio
2.7%
National benchmark: 2-4%

Who actually pays it here

A $2,000 to $2,999 yearly bill greets most paid-off owners in Richland County, above what the majority of American counties charge and heavy enough that a fixed retirement income feels it directly.

Unusually for Richland County, returns above $200,000 form the single largest block claiming it, a concentration only a minority of US counties show and a marker of high property values.

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 Richland County, North Dakota? ▼
Renting the HUD 2-bedroom is the clearer monthly path in Richland County by roughly $281/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 Richland County? ▼
HUD prices a 2-bedroom unit at $873/mo here. Sizing up matters: going from a studio to a 4-bedroom adds about $803/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 Richland County? ▼
On the common 3x-income guideline, a $75,432 household here can afford up to $226,296, which comfortably covers this county's $183,600 median home price -- a healthier affordability picture than many of the counties tracked on this site.
What is the median home price in Richland County? ▼
$183,600, per the Census Bureau's ACS 5-Year Estimates. The property tax on that value works out to roughly 1.13% a year, in line with typical rates for the area.
How does Richland County compare to other North Dakota counties for renting vs buying? ▼
Out of 53 North Dakota counties ranked here on buy-vs-rent value, Richland County lands at spot 39, 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.
Is rent going up or down in Richland 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 →