Yahoo! Finance reports while most of the U.S. is still reeling from the effects of the housing downturn, the shortage of housing in western North Dakota is so great due to the Bakken Formation oil fields, the challenge is often finding a place to live. An 1,800 square foot house in 2002 in Williston cost around $80,000. A 2,000 square foot house built in 1978 now lists for $327,000. The Williston Board of Realtors says the average price of a single-family home three years ago that was $129,183 has now jumped to $227,274. Supportive services are similarly suffering: The best time to schedule an oil change for your car is while you are having one done. The housing shortage in nearby Minot, ND was compounded by the Souris River flooding in 2011 (as we wrote about in an earlier edition) that brought in Federal Emergency Management Agency (FEMA) housing for the 4,100 homes that were destroyed, displacing thousands of residents. Since 2008 the average price for a single-family home has doubled. MHProNews has learned in addition to the 2000 homes set to be completed in Minot by year’s end, numerous apartments and hotels are also underway.
(Photo credit: Alana Semeuls/LATimes–Watford City, ND man camp)