Story perspectives

North Dakota Shale Boom Fuels GDP Growth, Rents Surge

11/5/2025

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Summary

Story summary

From 1998 to 2024, North Dakota and Texas experienced the highest real GDP growth in the U.S., with increases of 164% and 141%, respectively, due to the shale boom.
In contrast, Rust Belt states like Michigan and West Virginia had much lower growth rates of 30% and 34%.
California leads in median rent prices at $2,104, followed by Hawaii and Massachusetts, while the national median rent is $1,487.
Midwestern states often have lower rents but struggle with slower wage growth and fewer high-paying jobs, impacting overall affordability.

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Story summary

From 1998 to 2024, North Dakota and Texas experienced the highest real GDP growth in the U.S., with increases of 164% and 141%, respectively, due to the shale boom.
In contrast, Rust Belt states like Michigan and West Virginia had much lower growth rates of 30% and 34%.
California leads in median rent prices at $2,104, followed by Hawaii and Massachusetts, while the national median rent is $1,487.
Midwestern states often have lower rents but struggle with slower wage growth and fewer high-paying jobs, impacting overall affordability.