KXNet - Bismarck/Minot/Williston/DickinsonState and Local Leaders Discuss North Dakota's Housing Crunch

State and Local Leaders Discuss North Dakota's Housing Crunch

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Across much of the state communities are feeling a housing crunch.
But no area is feeling it more than western North Dakota.
It's estimated just in Williston alone there is a need for 5,000 new housing units.
The North Dakota Housing Finance Agency is hosting its annual Housing Conference in Bismarck this week.
 It's a case of supply vs demand, "I will tell you there is a lot of building in oil country going. on the governor said in his welcoming comments 2000 willion and 2300 in Dickinson but those arena;t going to solve the problem because by the time they get built you've got that next wave of people." says North Dakota Housing Finance Agency Executive Director Mike Anderson.

North Dakota's population is simply growing too fast for the housing market to keep up with.  
Anderson says,"You just dont decide to build today and have your raising 2 x4's  tomorrow especially with multifamily residence you've got to develop the project on paper and then figure out how to pay for it and that can take years before you can break ground."

The high demand for housing is causing prices to double in some communities. In Dickinson the average two bedroom apartment costs 1600 dollars, just last year that same apartment would have cost only 800 dollars. "While our school as seen a gain in students we have also lost a lot of students where families have been forced to move out of Dickinson because they can't afford it."
Dickinson City Administrator Shawn Kessel says there is no question that the city needs more housing NOW, but what kind, how many units and where -- all questions not easily answered.  
Kessel says "We have a hundred acre's of land that the city of Dickinson owns at this point and we are trying to determine how best to put that up for bid to create the most housing and affordably."
But until one more housing unit is in supply rather than in demand, Communities across the state will continue to feel the housing crunch.

The state is offering a new tax credit incentive program for companies willing to build affordable housing-- If a company chooses to invest in the program they get a dollar for dollar tax credit.

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