RentData

Average Rent in Steele County, ND↑ Rents rising 8.0% YoY🔻 3rd cheapest in ND

HUD FY2025 · Official government data · Updated annually · Metro pop. 1,731

Data review: HUD FY2025Sources: HUD, Zillow, Census, BLSMethodologyEditorial standardsReport a correction

Market Overview

Steele County, ND has rental prices ranging from $753/month to $1,558/month in 2025, depending on unit size. The typical 1-bedroom apartment rents for $758/month — 46% below the national average of $1,400/month. With a median household income of $80,313/year, spending $758/month on a 1-bedroom represents 11% of gross income — within the recommended 30% threshold.

How Steele County Compares

With an average 2-bedroom rent of $928/month, Steele County ranks #49 most expensive of the 51 cities tracked in North Dakota — more affordable than 64% of all US cities in our data.

The Steele County Rental Market

The Steele County, ND area has a population of about 1,731 and 22% of households renting rather than owning. That renter share runs below the US average of ~34%, a more homeowner-heavy market where rental inventory can be limited.

Rent Trends

2-bedroom rents in Steele County, ND have risen by $69/month (8.0%) over the past year, from $859 to $928. This modest growth is consistent with broader inflationary trends seen across US rental markets.

Affordability

To afford a 1-bedroom apartment in Steele County, ND without exceeding the 30% housing cost guideline, a renter needs an annual income of approximately $30,320. The local median household income of $80,313 exceeds that threshold by $49,993, making Steele County relatively accessible compared to local wages.

Economy & Jobs

Steele County, ND has an unemployment rate of 2.6%, 1.3 percentage points below the national average of 3.9%. Strong employment conditions typically sustain rental demand, as workers relocate to the area and local residents maintain stable housing.

Fair Market Rents

HUD FY2025
Studio
$753
Affordable
1 Bedroom
$758
Affordable
2 Bedrooms
$928
↑8.0% YoY
Affordable
3 Bedrooms
$1,300
Affordable
4 Bedrooms
$1,558
Affordable
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Is Steele County, ND Affordable?

Income needed to rent or buy, price history, and how this city compares to nearby metros.

Affordability Index(30% income rule)

To rent a 2BR
$37,120/year
Local median income: $80,313
To buy a median home
—/year
US national median: $75,000
💡 Based on a 2BR rent of $928/month and 20% down on a — home at 7% rate.

Nearby Cities in NDlargest metros in the state

CityStudio1BR2BR3BRHome Value
Bismarck$828$917$1,023$1,433—
Ward County$721$808$1,040$1,457—
Williams County$1,003$1,026$1,154$1,617—
Stark County$850$855$1,020$1,429—
Stutsman County$708$713$928$1,300—
Richland County$703$707$928$1,300—

Rent or Buy in Steele County?

Break-even analysis and mortgage estimates based on local market data.

Should I Rent or Buy?

Break-even analysis using real Steele County data

$
Home Value
$350,000
2BR Rent
$928/mo
Mortgage Rate
7%
Monthly P&I
$1,863/mo
🏢 Rent

Renting appears to be the better financial choice for this scenario.

Total monthly buy cost: $2,577/movs rent: $928/mo
Estimates only. Excludes HOA, PMI (if <20% down), closing costs, and tax benefits. Assumes 5% return on invested down payment.

Living in Steele County

Cost of living, job market, crime rates, and moving cost estimates.

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Frequently Asked Questions

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🏘️Neighborhoods in Steele County

Compare rent & home prices by neighborhood

💵Rent Affordability in Steele County

Salary needed to afford rent here

🗺️All Cities in ND

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⚖️Compare Steele County

Side-by-side rent & cost of living with any city

📋ND Tenant Rights

Deposit limits, eviction laws & renters protections