Rental DSCR · North Dakota
Where rent covers the loan in North Dakota
At a 7% example rate, a 3-bedroom rental on a mid-market home covers its full payment in 40 of 53 North Dakota counties (75%). The typical North Dakota county has a DSCR of 1.29. Among markets with at least 2,500 renter homes and a loan of $55,000 or more, the highest DSCRs are in Stutsman County at 1.07, Williams County at 1.04 and Stark County at 0.95.
The biggest rental markets
In North Dakota’s largest rental markets, the rent falls short of the payment in Cass County (DSCR 0.77, break-even under 4%), Grand Forks County (DSCR 0.87, break-even 5.4%) and Burleigh County (DSCR 0.74, break-even under 4%).
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Every North Dakota county, ranked
Ranked by DSCR at a 7% example rate on a mid-market home, 75% loan. † A 75% loan there is under $55,000, the smallest DSCR loan through Pinnacle Funding Network. * Small survey sample; treat as rough.
| # | County | Renter homes | 3-bed rent | Home price | DSCR at 7% (example) | Break-even rate |
|---|---|---|---|---|---|---|
| 1 | Sheridan County | 108 | $1,479 | $102,500 | 2.30 | 21.0% |
| 2 | Benson County* | 545 | $1,117 | $76,800 | 2.18 | 20.5% |
| 3 | McIntosh County* | 249 | $1,024 | $76,100 | 1.97 | 18.5% |
| 4 | Adams County* | 290 | $1,313 | $106,800 | 1.89 | 17.1% |
| 5 | Logan County* | 132 | $1,177 | $99,000 | 1.82 | 16.4% |
| 6 | Grant County* | 176 | $1,007 | $84,800 | 1.80 | 16.3% |
| 7 | Divide County* | 231 | $1,545 | $144,800 | 1.76 | 15.2% |
| 8 | Wells County | 410 | $1,169 | $102,700 | 1.75 | 15.6% |
| 9 | Eddy County* | 328 | $1,333 | $117,800 | 1.75 | 15.6% |
| 10 | Pembina County* | 756 | $1,325 | $118,600 | 1.72 | 15.3% |
| 11 | Golden Valley County* | 143 | $1,300 | $120,900 | 1.69 | 14.8% |
| 12 | Griggs County* | 232 | $1,164 | $112,500 | 1.61 | 14.0% |
| 13 | Steele County* | 179 | $1,235 | $118,900 | 1.60 | 14.0% |
| 14 | Hettinger County* | 262 | $1,139 | $110,100 | 1.57 | 13.7% |
| 15 | Emmons County* | 309 | $1,109 | $110,600 | 1.56 | 13.5% |
| 16 | LaMoure County | 287 | $1,133 | $112,400 | 1.55 | 13.4% |
| 17 | Towner County* | 210 | $1,144 | $116,300 | 1.54 | 13.2% |
| 18 | Nelson County* | 333 | $1,173 | $131,800 | 1.43 | 11.9% |
| 19 | Sargent County | 482 | $1,345 | $145,600 | 1.42 | 12.0% |
| 20 | Sioux County†* | 594 | $632 | $70,000 | 1.41 | 11.8% |
| 21 | Bowman County* | 216 | $1,256 | $150,000 | 1.36 | 11.1% |
| 22 | Foster County* | 311 | $1,268 | $143,100 | 1.35 | 11.2% |
| 23 | McHenry County | 418 | $1,129 | $136,900 | 1.34 | 10.9% |
| 24 | Walsh County* | 1,054 | $1,155 | $135,700 | 1.31 | 10.8% |
| 25 | Dickey County* | 398 | $1,243 | $150,100 | 1.31 | 10.6% |
| 26 | Burke County* | 225 | $1,075 | $137,900 | 1.29 | 10.3% |
| 27 | Renville County* | 206 | $1,112 | $139,900 | 1.29 | 10.4% |
| 28 | Pierce County | 342 | $1,196 | $143,000 | 1.29 | 10.5% |
| 29 | Cavalier County* | 291 | $1,053 | $126,300 | 1.24 | 10.0% |
| 30 | Barnes County | 1,434 | $1,294 | $170,000 | 1.19 | 9.3% |
| 31 | Mercer County | 681 | $1,407 | $185,700 | 1.18 | 9.2% |
| 32 | Ransom County | 592 | $1,316 | $180,400 | 1.15 | 8.8% |
| 33 | Ramsey County* | 2,460 | $1,325 | $184,100 | 1.14 | 8.7% |
| 34 | Mountrail County* | 1,500 | $1,415 | $213,400 | 1.13 | 8.4% |
| 35 | Richland County* | 2,184 | $1,313 | $183,300 | 1.11 | 8.4% |
| 36 | Rolette County* | 1,401 | $694 | $95,600 | 1.11 | 8.4% |
| 37 | Stutsman County | 3,486 | $1,351 | $198,000 | 1.07 | 7.8% |
| 38 | Williams County | 7,125 | $1,679 | $271,300 | 1.04 | 7.5% |
| 39 | Oliver County* | 35 | $1,202 | $193,000 | 1.04 | 7.4% |
| 40 | Traill County | 855 | $1,293 | $199,900 | 1.02 | 7.3% |
| 41 | Bottineau County | 557 | $1,030 | $171,600 | 0.98 | 6.8% |
| 42 | Stark County | 4,496 | $1,602 | $273,700 | 0.95 | 6.5% |
| 43 | McKenzie County* | 2,795 | $1,939 | $358,900 | 0.95 | 6.4% |
| 44 | Slope County* | 72 | $749 | $140,400 | 0.92 | 6.1% |
| 45 | Kidder County* | 280 | $763 | $137,700 | 0.91 | 5.9% |
| 46 | Grand Forks County | 15,090 | $1,387 | $249,100 | 0.87 | 5.4% |
| 47 | Ward County | 11,203 | $1,340 | $249,700 | 0.85 | 5.1% |
| 48 | McLean County | 693 | $1,235 | $245,700 | 0.83 | 4.9% |
| 49 | Billings County* | 90 | $1,389 | $297,000 | 0.82 | 4.9% |
| 50 | Dunn County* | 403 | $1,206 | $252,700 | 0.81 | 4.6% |
| 51 | Cass County | 40,322 | $1,450 | $293,900 | 0.77 | Under 4% |
| 52 | Morton County | 3,605 | $1,206 | $252,700 | 0.76 | Under 4% |
| 53 | Burleigh County | 11,903 | $1,439 | $317,900 | 0.74 | Under 4% |
Rates on this page are a 7% example, not a quote or an offer. DSCR here is 3-bedroom rent divided by principal, interest, property tax and insurance on a 75% loan with a 30-year fixed payment. At 1.00 the rent pays all of it. Figures are estimates from public data, for education only.
Questions
In how many North Dakota counties does a 3-bedroom rental cover the payment at 7%?
At a 7% example rate, a 3-bedroom rental on a mid-market home covers its full payment in 40 of 53 North Dakota counties (75%). The typical North Dakota county has a DSCR of 1.29. Move the example rate and the count changes: 44 counties cover at 6%, 40 at 7% and 36 at 8%.
Where in North Dakota does rent go furthest against the payment?
Among markets with at least 2,500 renter homes and a loan of $55,000 or more, the highest DSCRs are in Stutsman County at 1.07, Williams County at 1.04 and Stark County at 0.95.
Do North Dakota’s biggest rental markets cover the payment?
In North Dakota’s largest rental markets, the rent falls short of the payment in Cass County (DSCR 0.77, break-even under 4%), Grand Forks County (DSCR 0.87, break-even 5.4%) and Burleigh County (DSCR 0.74, break-even under 4%).
How is this calculated?
Rent is HUD’s FY2027 Fair Market Rent for a 3-bedroom, adjusted to each county. Home prices are about the 40th percentile of local values from the Census Bureau’s 2020 to 2024 American Community Survey, brought to mid-2026 with the FHFA house price index. Property tax uses each county’s effective rate and insurance starts from NAIC 2023 average premiums. DSCR is rent divided by principal, interest, tax and insurance on a 75% loan at a 7% example rate, which is not a quote or an offer.
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