Single-Income Homebuying: Affordable Options in Fargo-Moorhead for Solo Buyers

By Christopher Leigh | June 26, 2025

Want to own a home in Fargo-Moorhead on a single income? Uffda, it’s not as impossible as it sounds! With housing costs rising across the country, many solo buyers—often called SINKs (single income, no kids)—find it challenging to follow the 50/30/20 budgeting rule: 50% for essentials like housing, 30% for discretionary spending, and 20% for savings or debt. But in the Fargo-Moorhead area, where affordability meets vibrant community living, single earners can make homeownership a reality. Let’s explore why Fargo-Moorhead is a prime spot for solo buyers and three practical strategies to achieve your homeownership goals, backed by Team Vision Realty’s local expertise.

Why Fargo-Moorhead is a Sweet Spot for Single-Income Buyers

Fargo-Moorhead shines as a haven for single earners due to its affordable housing and high quality of life. A recent SmartAsset study ranks North Dakota among the top states where solo buyers can live comfortably on incomes between $80,000 and $87,000. In Fargo-Moorhead, the median home price hovers around $320,000—well below the national median of $440,000. This translates to a monthly mortgage payment of approximately $1,670 (excluding taxes and insurance), fitting comfortably within an $82,285 annual income while leaving room for essentials like groceries, a night out at Drekker Brewing, or savings for the future.

The Fargo-Moorhead area offers a welcoming community with diverse neighborhoods near NDSU, Moorhead State, or downtown Fargo’s vibrant scene, including spots like the Fargo Theatre. With a low cost of living and a strong job market—especially in healthcare at Sanford and Essentia—it’s no wonder 2020 census data shows North Dakota has a high rate of one-person households. Whether you’re a young professional or a seasoned singleton, Fargo-Moorhead provides an inclusive environment for all buyers to thrive.

Expert Tip: “Fargo-Moorhead’s affordability is a game-changer for solo buyers,” says Christopher Leigh of Team Vision Realty. “You might need to consider a smaller home or a nearby suburb like Horace to stay within budget, but the opportunities here are endless.”

Three Strategies for Single-Income Homebuying in Fargo-Moorhead

Here are three tailored strategies to help solo buyers achieve homeownership in Fargo-Moorhead, designed to maximize affordability and comply with fair housing standards:

1. Explore Affordable Neighborhoods and Starter Homes

Fargo-Moorhead boasts budget-friendly neighborhoods ideal for single-income buyers. Areas like South Fargo near 52nd Avenue or Moorhead’s Concordia neighborhood offer median home prices between $250,000 and $300,000, equating to monthly payments of $1,300-$1,560 (without taxes or insurance). These locations provide easy access to amenities like Hornbacher’s grocery stores, local parks, and community events, making them perfect for a solo lifestyle.

• How It Works:
  • Target smaller homes (1-2 bedrooms) or condos to keep costs manageable.
  • Consider up-and-coming areas like Horace or Dilworth for modern starter homes at lower prices.
  • Use an FHA loan with just 3.5% down—for a $275,000 home, that’s only $9,625 upfront.
• Practical Example: A $280,000 two-bedroom condo in West Fargo has a monthly mortgage payment of about $1,460, affordable for an $80,000 income while adhering to the 50/30/20 rule.

Expert Tip: “Horace offers small-town charm with big potential for single buyers,” says Christopher. “New developments there are ideal for building equity without stretching your budget.”

2. Leverage Low-Down-Payment Loan Programs

Single earners in Fargo-Moorhead can benefit from low-down-payment options like FHA or USDA loans, which are accessible to all qualified buyers. USDA loans, available in rural areas like Glyndon or Hawley (just a short drive from Fargo), require zero down payment, making them ideal for incomes around $80,000. FHA loans, available across Fargo-Moorhead, need only 3.5% down and offer flexible credit requirements.

• How It Works:
  • Check USDA loan eligibility for homes in nearby communities like Glyndon or Dilworth.
  • Partner with a local lender experienced in Fargo-Moorhead’s market to get pre-qualified.
  • Budget for closing costs (2-5% of the home price) and explore first-time buyer grants available to all eligible applicants.
• Practical Example: A $300,000 home in Glyndon with a USDA loan requires no down payment, with a monthly payment of $1,566, fitting an $81,078 income.

Expert Tip: “USDA loans are a fantastic option for solo buyers in Fargo-Moorhead’s rural suburbs,” says Christopher. “Team Vision Realty can connect you with lenders who specialize in these programs.”

3. Try House Hacking to Offset Costs

House hacking—living in part of your home while renting out the rest—is a smart strategy in Fargo-Moorhead. You could rent a basement apartment near NDSU to students or list a spare bedroom on Airbnb for visiting healthcare workers at Sanford or Essentia. A $350,000 three-bedroom home could generate $1,000-$1,500 monthly in rental income, reducing your $1,827 mortgage payment to $300-$800.

• How It Works:
  • Purchase a duplex or triplex in Fargo’s Roosevelt neighborhood and rent out extra units.
  • Convert a basement into an accessory dwelling unit (ADU) for long-term tenants.
  • Review local regulations for short-term rentals, especially near medical hubs, to ensure compliance.
• Practical Example: A $340,000 duplex in Fargo allows you to live in one unit and rent the other for $1,200 monthly, covering most of your $1,775 mortgage and enabling near rent-free living.

Expert Tip: “House hacking near NDSU or Sanford is a brilliant move,” says Christopher. “It’s not just a home—it’s an investment in your financial future!”

Getting Started as a Solo Buyer in Fargo-Moorhead

Ready to become a homeowner? Here’s how to begin, ensuring compliance with all real estate regulations:

1. Assess Your Budget: Use the 50/30/20 rule to keep housing costs under 50% of your income. Try our Mortgage Calculator to estimate payments.
2. Explore Financing Options: Work with lenders to explore FHA, USDA, or conventional loans open to all qualified buyers.
3. Research Neighborhoods: Look into affordable areas like West Fargo, Horace, or Moorhead’s south side, suitable for diverse lifestyles.
4. Partner with Experts: Team Vision Realty offers inclusive guidance to help all buyers find the right property.
5. Plan for the Future: Consider house hacking or smaller homes to build equity and secure long-term financial growth.

Conclusion

Single-income homebuying in Fargo-Moorhead is an achievable goal for all qualified buyers. With median home prices below the national average, accessible loan programs, and strategies like house hacking, solo buyers can find a home that fits their budget and lifestyle. Whether you’re drawn to a cozy condo in West Fargo or a duplex near NDSU, Team Vision Realty is committed to helping everyone achieve their homeownership dreams. Contact Christopher Leigh using the Contact Vision Realty in Fargo-Moorhead form below or call +1(701) 715-4747 to start your journey today!

Contact Vision Realty in Fargo-Moorhead

Christopher Leigh, Broker
+1(701) 715-4747 | chris@visionrealty.us
509 Front St, Hawley, MN 56549