- Associated Press - Friday, August 5, 2016

WILLISTON, N.D. (AP) - Rental rates in Williston have dropped by about half as occupancy rates have fallen during the oil industry slump.

The surge of people into western North Dakota during the recent oil boom resulted in a housing crunch in the region. Rental rates just two years ago equaled or exceeded those in New York City and Los Angeles.

KUMV-TV reports (http://bit.ly/2av5Buy ) that occupancy rates have stabilized at about 75 percent, rental rates have dropped about 50 percent from this time last year and some companies are even offering a month of free rent to new tenants.

Renter Corry Donis says he went from paying $1,500 a month for a two-bedroom home to $840 for a three-bedroom.


Information from: KFYR-TV, http://www.kfyrtv.com/



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