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Mayor: ND boomtown’s rents beginning to tumble

BISMARCK, N.D. — The mayor of Watford City says rents in the city have gone down by $1,000 a month or more.

Mayor Brent Sanford says about 300 apartment units have been added in the western North Dakota community recently.

Sanford says just a month ago, rents ranged from between $3,200 to $3,400 a month. Now they range from $1,600 to $2,200.

The mayor says rents in Watford City are still high compared to most other places but they are far more affordable than in the past.

Sanford says rents in other cities in the region also are coming down as more units come online and there’s a lull in drilling activity.

In related news, Minot rent prices collapse.

This article was from The Associated Press and was legally licensed through the NewsCred publisher network.