THE RENTAL RADAR
WHERE TO INVEST NEXT
FARGO, ND
F argo has become one of the most stable multifamily investment markets in the Upper Midwest. The metro has grown 28% since 2010, driven by steady in-migration and consistent job creation. This sustained population growth supports multifamily demand and has historically translated into stable occupancy, predictable rent growth, and lower volatility compared to many larger markets. The local economy is highly diversified, with strength in healthcare, technology, manufacturing, agribusiness, logistics, and financial services. This diversified economy, with more than 25,000 college students, and a low 2.3% unemployment rate support consistent rental demand. With vacancy around 7.35%, the market remains balanced. With over 25 years of commercial real estate experience in Fargo, I have consistently seen the market deliver strong risk-adjusted returns through multiple economic cycles. Fargo is a dependable market for long-term multifamily investment, particularly for investors seeking durable cash flow and downside protection.
BRIAN TULIBASKI Commercial Realtor in ND & MN Horizon Real Estate Group Connect with Brian
STATS
Median household income $66,029 Avg. home price $311K (vs $423K nat’l avg)
Population 136k
Median age 33 years
SALE
Avg. 1-bedroom rental $934 (vs. $1,550 nat’l avg)
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