Fargo, North Dakota Income Statistics
Fargo Wealth Score
The wealth index reflects the overall economic prosperity and financial well-being of an area's residents based on income levels, employment rates, and income inequality metrics.
-
B
Fargo Around average
Source: Map AI Methodology
Income Statistics Overview
| Metric | Fargo | North Dakota Avg | US Average |
|---|---|---|---|
| Median Household Income | $65,882 | $76,862 | $80,455 |
| Median Personal Income | $53,037 | $59,016 | $60,758 |
| Average Yearly Income Growth | 4.6% | 3.3% | 4.8% |
| Six-Figure Earners | 10.3% | 12.1% | 13.9% |
| $200k+ Households | 7.6% | 9.6% | 13.2% |
The median household income in Fargo is about 14% lower than in North Dakota. Income has been growing faster in Fargo (4.6%/yr) than in North Dakota (3.3%/yr).
About 10% of adults in Fargo earn six figures ($100,000 or more) a year, lower than the North Dakota average of 12%.
Median Household Income 2009–2024 Trend
Median Household Income Over Time
Median household income in Fargo, North Dakota grew by 70.5% from 2009 to 2024, reaching $65,882 in 2024. That's an average of about 4.6% per year.
Income Inequality and the Gender Pay Gap in Fargo
| Metric | Fargo | North Dakota Avg | US Average |
|---|---|---|---|
| Gini Coefficient | 0.492 | 0.506 | 0.552 |
| Male Median Income | $58,803 | $67,903 | $69,667 |
| Female Median Income | $52,266 | $53,536 | $56,850 |
| Gender Pay Gap | 11.1% | 21.2% | 18.4% |
The Gini coefficient measures how evenly income is shared between richer and poorer households, from 0 (everyone earns the same) to 1 (one household earns nearly everything). The lower the number, the more equally income is distributed. In Fargo, it is 0.492, lower than North Dakota's 0.506, so income is more evenly distributed here than there, and lower than the US's 0.552, so income is more evenly distributed here than there.
Men's income is about 13% more than women's income in Fargo, North Dakota. Over a 35-year career, a 13% wage gap accumulates to roughly $228,795 in unearned income for female workers in the area.
Income by Sex Over Time
Since 2009, the income gap between men and women in Fargo, North Dakota has narrowed from about 24% to 11% in 2024. Over that period the gap was narrowest at 7% in 2023. In dollar terms, the gap has narrowed by $3,030 since 2009.
Employment
| Metric | Fargo | North Dakota Avg | US Average |
|---|---|---|---|
| Unemployment Rate | 3.8% | 2.7% | 5.2% |
| Working from Home | 9.8% | 8.1% | 15.0% |
| Commute time (minutes) | 13 | 13 | 22 |
Approximately 2,867 people are unemployed in Fargo, North Dakota.
The average commute time in Fargo is 13 minutes, about the same as in North Dakota.
Unemployment Rate Over Time
Since 2011, the unemployment rate in Fargo, North Dakota has fallen from 4.5% to 3.8% in 2024. Over that period the rate peaked at 4.7% in 2012 and fell as low as 2.9% in 2017.
Fargo, ND Wealth Compared With Nearby Cities
How Fargo, ND compares with the 2 cities closest to it.
| Area | Population | Median household income | Income growthAverage yearly change in median household income since 2016. Each year is measured in its own dollars, so this is growth before inflation. | Unemployment | Income inequalityGini coefficient: 0 would mean every household earns the same, 1 that a single household earns everything. The lower the number, the more equally income is shared here. |
|---|---|---|---|---|---|
| Fargo, ND | 124,648 | $65,882 #3/3 | 4.6%/yr #2/3 | 3.8% #2/3 | 0.492 #2/3 |
| West Fargo, ND | 37,364 | $91,380 | 4.9%/yr | 1.3% | 0.468 |
| Moorhead, MN | 37,203 | $68,229 | 3.5%/yr | 5.4% | 0.538 |
Conclusion
Considering all these factors, Fargo, North Dakota has an overall wealth index grade of B, making it about on par with North Dakota, and somewhat better than the country as a whole.
Frequently Asked Questions
Common questions about income and wealth in Fargo, North Dakota.
How Rich Is Fargo, North Dakota?
Fargo has a wealth index grade of B. The wealth index grades areas from A+ (best) to F- by combining income levels, employment rates, and income inequality; a B grade means residents are quite well off compared to the U.S. average. The median household income is $65,882, about 14% lower than the North Dakota average of $76,862.
Are incomes growing in Fargo, North Dakota?
Between 2009 and 2024, the median household income in Fargo, North Dakota rose 71%, from $38,631 to $65,882. Over the same years, income here kept pace with North Dakota as a whole: +71% against +70%.
What was the median household income in Fargo in 2023?
In 2023, the median household income in Fargo, North Dakota was $64,920, up 2% from $63,638 in 2022. The North Dakota median that year was $76,063.
What was the median household income in Fargo in 2020?
In 2020, the median household income in Fargo, North Dakota was $57,157. By 2024 it had risen 15% to $65,882.
How strong is the job market in Fargo, North Dakota?
Unemployment in Fargo, North Dakota is 3.8%, well above the North Dakota rate of 2.7%, so job seekers may face more competition than elsewhere.
What is the Gini coefficient in Fargo, North Dakota?
The Gini coefficient in Fargo is 0.492. It measures income inequality on a scale from 0 (everyone earns the same) to 1 (one household earns everything). That is lower than the US average of 0.552, so income is distributed more equally than in the country overall.
How has the income gap between men and women changed in Fargo, North Dakota?
Since 2009, the income gap between men and women in Fargo, North Dakota has narrowed from about 24% to 11% in 2024. Over that period the gap was narrowest at 7% in 2023. In dollar terms, the gap has narrowed by $3,030 since 2009.
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