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.
By BRYCE MARTIN
For the DC Herald
Posted Feb. 21, 2014
And Killdeer may not be too far behind making its own records.
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.
As for Killdeer, Continental Real Estate Realtor Deb Harsche says the area’s not too far behind on high rental prices.
Considering the Bakken’s confluence in Dunn County, it’s easy to understand why rental prices too in Killdeer would rise, with an average one-bedroom apartment renting for a market value of $1,600 a month.
Nearby Dickinson, N.D., ranks fourth on the list at an average of $1,733 a month.
“The rentals in town are full all the time,” Harsche said. “Now, the seasonal workers are coming back and they include pipeline workers, road construction (crews) and builders. And that’s in addition to the oilfield workers.”
Harsche said she gets an average of two calls a week inquiring about housing.
Williston is experiencing the same effect.
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.
Nearby Dickinson ranks fourth on the list at an average of $1,733 a month. Boston is sixth, New York is seventh, Los Angeles is eighth. Chicago didn’t even crack the top 10.