Bakken Housing Challenges Continue

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Finding adequate housing in the Bakken has been an issue for several years. Now, there are more options, but the question is affordability. Highly paid oilfield workers can afford $2,000 per month, but the average resident not employed in the oilfield can not. A Wall St Journal article published a little earlier in the day dives into the details. Follow the link at the bottom to read the full article. Highlights from the article include:

  • Working population up 70% in the past three years
  • Average home listed for $253,000 in 2012
  • One bedroom apartments as much as $2,000/month
  • Considering increase in ND's housing incentive fund to $50 million from just $15 million
  • State needs 7,300 affordable housing units constructed over the next two years
  • Wages have risen to fast for subsidies to reflect needs