The rapidly growing North Dakota oil patch city of Williston has the highest average rent in the United States, a national study from an apartment renting guide shows.
A 700-square-foot, one-bedroom apartment in Williston costs an average of $2,394 a month, according to Apartment Guide, an online website for apartment hunters. The same apartment would cost $1,504 in the New York area, $1,411 in the Los Angeles area or $1,537 in the Boston area, the Williston Herald reported.
The population of Williston, in the northwest corner of the state not far from the Montana border, has more than doubled since the 2010 Census, with estimates of more than 30,000 people now within the city’s limits.
The city and developers have lagged behind the influx of oil field workers, whose sometimes six-figure salaries can bear inflated rent and have caused a shake up in housing supply and demand.
“A lot of management companies have long-term projects projected, as long as the demand and infrastructure are there,” Pam Winter, Apartment Guide’s Regional Sales Executive for North Dakota, said in a release. Read the rest of the story . . . Williston Herald, http://www.willistonherald.com
