Cost of Living in Fargo, ND-MN

How far does a $70,000 salary go in Fargo? Estimated income taxes on that gross salary total approximately $7,241 per year — ND-MN levies no state income tax, so that figure covers federal tax only. Subtract rent for a 2-bedroom apartment ($1,112/month based on HUD Fair Market Rents for the Fargo metro area) and the estimated annual take-home is $49,415, or roughly $4,118 per month for everything else: food, transportation, savings, and discretionary spending.

The Fargo metro has a cost of living index of 73.6 according to the Bureau of Economic Analysis Regional Price Parities (national average = 100). At 26% below the national average, Fargo is a genuinely affordable metro where everyday expenses stretch further than in most cities.

At a $70,000 salary, the estimated 2-bedroom rent in Fargo represents approximately 19% of gross income. That is well within the 30% rule of thumb that financial advisors typically recommend, leaving significant room for savings and discretionary spending. ND-MN's zero income tax helps offset the rent burden compared to otherwise similar cities that also levy state income tax.