NAICS 52

Finance and Insurance in Fargo, ND

Metro Market Score 72.7 (Difficult), ranked #307 of 331 metros. 708 establishments, 7,667 jobs.

Metro Market Score 72.7

Favorable 0-35

Moderate 35-48

Challenging 48-60

Difficult 60+

Difficult

ⓘ Lower is better. Relative to national finance and insurance average.

Fargo's finance and insurance sector saw employment decline over the past year (growth trend: 19.9). That contraction, combined with a 72.7 market score, puts this metro in the bottom 10% for market conditions. Understand why the local market is shrinking before committing.

Industry Concentration

93.3

LQ: 1.28

Rank #309 of 331 metros

Wage Competitiveness

61.9

$94,021 avg wage

Growth Trend

↓ 19.9

Employment growth index

Rank #266 of 331 metros

Wage Pressure

49.1

YoY wage change index

708 Finance and Insurance Firms in Fargo

708

Establishments

-0.3% YoY

7,667

Total Employment

-4.0% YoY

$94,021

Average Annual Wage

+7.4% YoY

1.28

Location Quotient

Above national avg

Within North Dakota

#3 of 3

finance and insurance metros in state

North Dakota state rank

#28 of 51

for finance and insurance entry risk

vs State Median

+15.4

worse than median (57.3)

Fargo vs North Dakota Statewide

How this metro's finance and insurance market compares to North Dakota overall. The state ranks #28/51 for entry risk.

Measure	Fargo	ND Statewide
Overall Score	72.7 Difficult	52.1 Elevated
Score Type	Metro Market Score	Entry Risk Score
Rank	#307 of 331 metros	#28 of 51 states

Metro and state scores use different methodologies (metro has 4 QCEW-based metrics; state adds BDS survival and momentum data). Direct score comparisons are approximate.

Other Industries in Fargo

Accommodation and Food Services 35.3 Retail Trade 42.5 Administrative and Support Services 53.6 Real Estate and Rental and Leasing 54.2 Construction 54.6 Healthcare and Social Assistance 59.5 Professional, Scientific, and Technical Services 64.7 Other Services 67.5 Information 71.5

Finance and Insurance in Other North Dakota Metros

Grand Forks 38.1 #90/331 Bismarck 57.3 #232/331

Finance and Insurance Metros With Similar Conditions

Metros within 5 points of Fargo's 72.7 score. Useful when comparing markets with comparable entry profiles.

Miami-Fort Lauderdale-West Palm Beach, FL 72.7 #308/331 Manchester-Nashua, NH 72.5 #306/331 Baltimore-Columbia-Towson, MD 72.8 #309/331 Madison, WI 72.8 #310/331 Columbia, MO 72.3 #304/331 Chicago-Naperville-Elgin, IL 72.3 #305/331 Greensboro-High Point, NC 72.1 #303/331 San Antonio-New Braunfels, TX 72.0 #302/331 San Diego-Chula Vista-Carlsbad, CA 72.0 #301/331 St. Louis, MO 74.2 #311/331

Finance and Insurance in States Bordering North Dakota

State-level entry risk for finance and insurance in adjacent states. Use this to weigh cross-border options.

Minnesota 46.6 #11/51 South Dakota 50.1 #24/51 Montana 59.0 #45/51

Browse Finance and Insurance in Other States

State-level entry risk reports for finance and insurance across all 51 markets, sorted by rank.

About Metro Market Score: A weighted composite of industry concentration (25%), wage competitiveness (25%), wage pressure (20%), and employment growth trend (30%). Lower scores indicate more favorable conditions. For Fargo's finance and insurance sector, the employment growth component (80.1) has the strongest pull on the composite. Metro scores use QCEW data only (no BDS survival data at metro level). Read full methodology →

Data Sources

Quarterly Census of Employment and Wages (QCEW), Bureau of Labor Statistics. MSA-level establishment counts, employment, wages, and location quotients for the Fargo, ND-MN MSA area.

Data period: 2024. Last updated: April 2026.

Metro Market Assessment