If you are short of work, you never say 'no'
But put a realistic cost on it. Price is at a point that you wouldn't drop them if a normally priced contract came up locally. That may mean 85, Or 105 instead of 50.
He may be in a bind, because the last guy couldn't make it at $50. If you think so, explain this to him too. I find that if people understand where I'm coming from, they are more willing to pay a living wage.
In fairness to them, explain that it is out of your normal working area, and you are charging $XX extra because of that. But that if you can get another contract, you will split the XX extra between the two contracts. This gives him an incentive to talk you up to other people there.