Williston notches top rent prices in USFargo, ND (WDAY TV) - Los Angeles. New York City. Boston. Where is the most expensive place to rent? It's Williston, North Dakota. So how does rent compare here in the F-M area?
Fargo, ND (WDAY TV) - Los Angeles. New York City. Boston. Where is the most expensive place to rent? It's Williston, North Dakota. So how does rent compare here in the F-M area?
Although growth is also booming here, rent is being kept at a much more reasonable price. While some of it is basic economics in the oil patch - supply and demand - others say property management companies are gouging.
Apartment hunting is always a mix of finding what feels right and will work for you, but it's also what your pocketbook can afford. An Apartment Guide study revealed a 700 square-foot, one bedroom apartment in Williston costs an average of $2,400 a month.
Kevin Cameron – Fargo Resident: "It's not like they're luxurious places out there. They're just run of the mill apartments, so it's not like they're paying for a Manhattan view, or something like that."
The article revealing the shocking number is trending on our Facebook page, thanks to viewers. Daniel Willert said: “It's all relative, highest paying jobs highest cost of living duh. Want cheap rent? Move to Detroit!!” On the other side of the fence, Stacie Flanagan, saying, “She is embarrassed to have this happening in North Dakota.”
Kevin Cameron: "It can't be helping anybody jacking prices up like that out West, but they're getting away with it so, more power to them."
It may surprise you to find out how rent in the F-M Area compares. We talked to Mary Beth Workin with City View Property Management.
Mary Beth Workin – City View Property Management & Dietrich Construction: "Our units run on average from a one bedroom at $695 to a 3 bedroom of 1,300 square feet at $995."
Their one bedroom isn't only $1,700 cheaper, but also larger - at 810 square feet versus 700. The same one bedroom apartment costs around $1,500 in New York; in Los Angeles, just over $1,400.
Kevin Cameron: "When you put oil field capital like that, and comparing it against east coast and west coast, it kind of puts that into perspective. They're probably gouging the system a little bit too much."
Especially when you consider that not everyone out West has a job in the oil fields and a salary that helps make ends meet.
Dickinson and Minot are also experiencing higher than usual rents. The Williston Herald reports that city officials have established an Affordable Housing Committee to look at how it can encourage more developers to build with reasonable rental rates.