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You'll Never Believe Where the Rent Is Too Damn High

By Tyler Crowe - Feb 22, 2014 at 1:00PM

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It's not New York, its not San Francisco. This remote town of 30,000 is the most expensive place to find a place to live in the country.

Who would have guessed it? According to a survey from the Apartment Guide, the most costly place to rent an apartment in the United States is the lesser known Williston, North Dakota. Then again, when you consider how fast the oil and gas industry has taken off in the region, is it that much of a surprise that a single-bedroom apartment there goes for more than $2,000 a month? 

The high costs of living in the region and an unemployment rate less than 1% mean it is getting harder and harder to find qualified workers to expand operations in this exploding oil patch. Ultimately, this is going to lead to higher labor costs for Bakken-centric producers like Kodiak Oil & Gas (NYSE: KOG) and Continental Resources (CLR 0.98%). Will this affect their bottom lines? Tune into the video to find out.

Tyler Crowe has no position in any stocks mentioned. You can follow him at Fool.com under the handle TMFDirtyBird, on Google+, or on Twitter, @TylerCroweFool. 

The Motley Fool owns shares of EOG Resources. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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Stocks Mentioned

Continental Resources, Inc. Stock Quote
Continental Resources, Inc.
CLR
$68.26 (0.98%) $0.66
EOG Resources, Inc. Stock Quote
EOG Resources, Inc.
EOG
$113.69 (1.14%) $1.28

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