You Now Need A 6 Figure Salary To Afford A House In North Dakota

The dream of just about every American is to be able to afford a home of their own.

Real estate has always intrigued me. I'm lucky enough to be a home owner, and I'm one of those types of people who enjoys watching HGTV shows. I may have missed my calling at being a home flipper.

Unfortunately, home ownership continues to be a challenge for many Americans as interest rates continue to be high.

After a few online searches, the national average for a current 30-year fixed mortgage APR is 7.02% on April 15th, 2025. Of course, it varies from bank to bank, I also came across interest rates as low as 5%.

These interest rates have come down just a little over the last year, which is some good news if you are on the hunt for a new home. Still, a far cry from the 3 to 4% mortgage rates we saw in 2019.

What percentage of Americans own their own home?

According to RubyHome, about 66% of Americans own their own home.

What percentage of North Dakotans own their own home?

According to USA Facts, North Dakota is on par with the national average as 65.7 percent of North Dakotans own their home.

How much of a salary will you need to make in North Dakota to join that 65.7 percent and own your own home in North Dakota in 2025?

According to Investopedia, your household will now need six figures in North Dakota. The salary needed is $103,055.

Let's take a look at what our neighboring states will need to buy a home in their state.

Minnesota-$110,403

South Dakota-$108,930

Montana-$178,017

I have friends who live in Montana, and they tell me it has become increasingly difficult to be able to afford a home since so many people have been flocking to the Big Sky state.

I guess we can blame that on the TV show Yellowstone. Yet another reason I'm so glad to live in North Dakota. Fewer people generally means more affordable.