You may have noticed them: Apartments popping up all over the FM area. The need for housing is higher than normal in Fargo, and builders are responding.
Construction site supervisor Paul Carter knows how to stay busy.
"When we first started out here, there was nothing. Now, it's just crazy, we can barely stay out of everybody else's way," says Carter.
Apartments have been popping up, especially in South Fargo. Usually, the city sits at about a 6% apartment vacancy rate, right now, its at about 3 percent.
Carter says, "It's, it's insane!"
But even when all the apartments are up, the problem won't necessarily be fixed.
Neal Eriksmoen with Appraisal Services Inc. says, "What's going on in the western part of the state is having an impact on what happens here."
Eriksmoen says more and more people are trying to get away from the expensive life in oil country and coming our way. With the shortage of apartments, it could affect how much you pay.
Eriksmoen says, "It's like that rents will go up. It will be harder to find places." He adds it's unclear how much rent would increase, but says people should be prepared for a little hike.
Eriksmoen says a stable market will have about 5% vacancy, and for Fargo that would mean 1500 open apartments. Right now, he says the city has 600 fewer apartments than it should.
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