No Vacancy Sign
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
Read more at wsj.com