New Apartments Come at a Price - KXNet.com - Bismarck/Minot/Williston/Dickinson-KXNEWS,ND

New Apartments Come at a Price

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From oil country to now the Capital City...

Many people living in North Dakota say the cost of living for apartment renters is through the roof...

"For rent" signs can be seen all over town as well as construction of multiple new apartments buildings.

There are more units available than in recent years, but according to industry experts, a lot of these new buildings are high-end apartments.

Rocky Gordon has been in property management in Bismarck for more than 30 years.

He says the recent spike in rental costs all boils down to supply and demand.


"Well like most other things, costs have gone up rather dramatically in the last few years.  Land costs are higher, construction costs are higher, material costs are higher and so units are definitely more expensive because they reflect those increased costs." says Rocky Gordon with Rocky Gordon Company


Gordon says new apartments right now can range from 900 dollars per month for one bedroom units, to up to 2000 per month for one and two bedrooms.
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