- Posted January 10, 2014 by
This iReport is part of an assignment:
Tell us the Good Stuff!
- Trends are shifting towards RV spaces to avoid expensive stays
- Midland’s Booming Oil Industry and Less Rental Accommodations
- The growing population and accommodation options in Midland, TX
- The Air Power Museum and its unique experiences
- Predictions about the Rental Apartment Real Estate Trends Midland, TX
Midland, TX: What to do about rising rental real estate prices?
The oil boom and increasing population have collective impact on the retail, restaurants, personal services and real estate industry. Whether it is rent rental real estate or for acquisition the prices are going up as more people are coming to Midland to join oil extraction and purification industry. The average residential rental price has increased from $880 to $1100 which is a huge increase for the expats. The average price of a home in Midland County has become more than $235,000 in past few years.
According to Brian Murphy who quit his job to join Midland oil industry and came to Midland:
“I quit my office job in Oklahoma City and came to Midland to take a highly-paid job in the oil fields. Like hundreds and thousands of oil field workers I choose to live in RV parks. "I don't think it was that bad till I got here because I have to pay $400 a month for the right just to park the trailer where I can have access to water and sewer. Still, that's better than other housing option like hiring hotel room, apartment or a rental home.” Brain Murphy’s experience tells you the story that RV Parks have become the most economic option to stay in Midland for the vocational staff coming from across US. 1270 RV Park Midland and 2134 Midland RV Park (Midland RV Campground) are the top two RV parks to stay nearest to the city.