Housing Report for Fargo

Fargo had an owner-occupied dwelling median in 2005 of $123,700, according to the American Community Survey. This value is greater than the overall State of North Dakota 2005 home median value of $88,600 and less than median owner-occupied dwelling value of $167,500 across the nation during that year.

In Fargo, the U.S. Census Bureau, Population Division accounted for a total of 83,247 housing structures in 2005. The metro area has seen a medium-high growth level in the number housing units, adding a total of 8,183 housing units since the year 2001, or 10.9 percent.

The residential housing values in Fargo, North Dakota have seen large increases from the housing values in 2000. The residential values have increased by $29,500, or 31.3 percent, from their 2000 median values of $94,200.

In the State of North Dakota, Fargo is positioned 1 of the 3 metro areas by percent in growth of new residential structures. The metropolitan area places 49 of 361, comparing the percentage change in residential real estate in other US MSAs.

Fargo is made up of a small, but present proportion of high-valued homes. For the year 2005, the American Community Survey accounted that 0.7 percent of the homes were valued over $500,000.

It can be understood that there is a large amount of real estate that is affordable in Fargo, North Dakota. In 2005, 50.9 percent of the homes were valued under $125,000.

Data Source: U.S. Census Bureau

Employment Report for Fargo, ND, North Dakota -- Annual 2005 Industry Summary

Professional and technical services in the period of 2001 to 2005 had the largest increase in employment in Fargo, ND, with an industry growth of 34.2 percent. This is greater than the change in industry employment in the United States of 2.6 percent. The State of North Dakota encountered a change in industry employment of 18.9 percent, from 2001 to 2005.

Information saw the largest loss of employment between the years 2001-2005 in the Fargo, ND Metro Area. The sector dealt with a loss of 188 total jobs during the period, accounting for 5.7 percent of jobs in the industry. The losses in this industry made up 100 percent of all Metro Area employment losses since 2001.

A well-paying sector in Fargo, ND is the information industry with an average annual wage of $51,299. From the year 2001, the annual average pay of the industry has grown by 33.3 percent or $12,809. The State of North Dakota shows a similar pattern in the information sector, placing near the top of sectors by 2004 industry pay.

In Fargo, ND, Wholesale trade, Management of companies and enterprises and Finance and insurance are the three industries with the highest location quotients. The Wholesale trade sector has a United State LQ of 1.46. The percent of employment in the Wholesale trade sector is 1.46 times more than the average percent in the United States, revealing signs that Fargo, ND may specialize, or be an exporter of Wholesale trade.

Management of companies and enterprises is the industry with the largest establishments in Fargo, ND Metropolitan Area (MSA), averaging 46 jobs per establishment, which is greater than the US industry average of 40 and greater than the North Dakota typical size of 36 for the Management of companies and enterprises industry.

In Fargo, ND, Retail Trade, Accommodation and food services, and the Manufacturing sectors are the largest industries, in terms of total number of jobs in 2005. The Retail Trade provides the most jobs and contributes 15.1 percent of all the jobs in the Metropolitain Area. This makes up 14,325 individuals. The Accommodation and food services and Manufacturing sectors provide 10.8 and 9.7 percent of all employment.





Datasource: U.S. Department of Labor. Bureau of Labor Statistics. Quarterly Census of Employment and Wages (QCEW).