Economic growth is limiting vacancies in Bismarck-Mandan
Competition for rental housing may be fierce in the Bismarck-Mandan, North Dakota, area as the Bismarck Tribune reports the metro has a rental vacancy rate of less than 1 percent.
New apartment buildings in Mandan are drawing workers to the area. Employment in the energy sector, by the state and local governments and for other industries is attracting many Americans to the two cities, which sit opposite each other on the Missouri River. In addition to the energy industry and large medical employers, there are also a significant number of jobs in technical service companies and other fields, according to the Bismarck-Mandan Chamber of Commerce.
There is reportedly a high demand for both workforce housing and affordable units among the metropolitan statistical area. Residents looking for a place to live may want to find IRET Properties' Bismarck-Mandan apartments, in developments like Crestview and North Pointe. The area has some of the lowest unemployment in the country, the Chamber notes, and has been cited as a low-stress place to build a strong business or career.
Opportunities in Bismarck-Mandan
North Dakota's oil industry boom is perhaps the main reason the area is doing so well, although analysts say there are other reasons. Agricultural and manufacturing activity have both grown recently as well, meaning many employers in the industries continue to seek out new hires.
There are five colleges and a university in Bismarck to provide higher education, which are also some of the larger employers in the area. The population growth and industry boom is also drawing professionals in a variety of fields, as the number of consumers in the area increases. The area is also a hub for trucking and railroads, and has been experiencing an increase in air travel traffic recently.