Williston News

Rental Occupancy Rates in Williston Are High, While Rental Prices Remain Low

It was once the most expensive place in the country for renters to live. But what is the rental market in Williston like now?

"My colleagues told me the apartment used to rent for like $3000 for a one bedroom. So definitely it's a lot cheaper now," says Khoa Ky, who signed a lease on a one-bedroom apartment this morning. 

Like so many, Ky says he wouldn't have been able to afford Williston rental prices back when single bedroom apartments were renting for thousands of dollars. But my, how times have changed.

"If you're comparing to five years ago where we didn't have anything available and people were living in tents and a park, we've come a long way," says Laura Ward, district manager with Bison Management. 

Now, apartment complexes are offering specials, like one month off a year long lease, or even flexible lease terms to attract more renters.

"We're all in the same game, where we're all trying to fill our buildings and run a business. The more we communicate with each other, the better it is for the overall market being fair and even," says Ward. 

Now, a two bedroom at Bluffs of Williston, a complex managed by Bison Management, rents for just under $1100. And many one-bedroom units go for well under a thousand.

If you're willing to forego amenities offered at some of the larger apartment complexes, you'll likely find even lower rates.

"Back in 2014, I don't know that you could get a room for that price. Myself, when I moved up to help start this company, we rented a two-bedroom townhome with a one-car garage for $2800 a month. So $1200 a month, there wasn't much available for that price back then," says Drew Baker, property maanger with Bakken Property Management. 

Baker specializes in home rentals and apartment rentals. His one bedrooms go for as low as $500 a month. And they're currently off the market. 

"People want to lock in the rates because they all understand that housing supply is starting to fill up. So chances are next year, rental rates could go up," says Baker. 

The affordability factor is drawing more families to the area. And because of that, Ward believes the next hot market will be quality of life businesses.

"I think it's a great area to raise your family. I myself have four kids and I wouldn't live anywhere else," says Ward. 

For many, Williston is no longer a place of transitional or temporary housing.
It's the place to call home. 

All of the management companies KXNews spoke with said their rental properties in the Williston area have occupancy rates at or above 90 percent.

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