MINOT, N.D. — It’s getting easier to find an apartment in Minot these days.
The Minot Daily News reports that the city’s vacancy rate has risen from 4.9 percent in April to 10.8 percent in October.
Minot’s vacancy rate hit a low after the 2011 Souris River flood and the peak of the western oil boom, when it was hard to find a vacant apartment anywhere in the city.
Not all of the flooded rental housing was replaced, though many new apartments have since been built. Magic City Apartment Association Vice President Justin Hammer says numerous units are coming into the market at the same time as a downturn in the oil industry.
That means more vacancies. Some property companies are even offering special deals, like a month’s free rent.
Information from: Minot Daily News, http://www.minotdailynews.com
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