> The 2010 census[6] gave its population as 14,716, and the Census Bureau gave the 2017 estimated population as 25,586, making Williston the sixth-largest city in North Dakota
Of course a tiny town that nearly doubles in population in less than a decade is going to experience a sharp rise in rents. This is a classic example of cherry picking outliers.
In contrast, the median home price in all of North Dakota is just over $200k.
This still demonstrates my point: it's supply and demand that dictates the price of housing. If demand rises and supply stays the same rents go up. If supply keeps up with demand, they do not.
> The 2010 census[6] gave its population as 14,716, and the Census Bureau gave the 2017 estimated population as 25,586, making Williston the sixth-largest city in North Dakota
Of course a tiny town that nearly doubles in population in less than a decade is going to experience a sharp rise in rents. This is a classic example of cherry picking outliers.
In contrast, the median home price in all of North Dakota is just over $200k.
This still demonstrates my point: it's supply and demand that dictates the price of housing. If demand rises and supply stays the same rents go up. If supply keeps up with demand, they do not.