Compared to many other cities across America, Anchorage has some unique challenges, but also plenty of opportunities available, if you know where to look.
Compared to many other cities across America, Anchorage has some unique challenges, but also plenty of opportunities available, if you know where to look.
Job growth drives the property market in Anchorage. Unlike other states, Alaska as a whole has quite a bit of migratory movement with large numbers of people moving in and out. Much of this influx is due to job potential.
The oil industry is one area that drives these changes; others include fishing and tourism. Anchorage is now a very popular destination for the cruise industry, and that's projected to continue into the future. Some of these shorter term and seasons jobs leave people looking for rental units year around.
Almost half of the population in the state calls Anchorage home, which is part of the reason why property owners can see the changes year to year.
With some uncertainty in the market over the long term, it can help when property owners and landlords work with experts to improve their offerings, pricing, and strategy.
A benefit to the Anchorage rental market is the continual influx of new people. It helps keep that market more competitive than the housing market as a whole. So, there are plenty of opportunities for property owners now and into the future.
Working with a local Anchorage property management company and their real estate professionals means you'll have access to the rental property trends as well as economic projections. These can help ensure you're in the best possible position to get your units off the market quickly and at a fair rate.
If you're interested, contact one of the property management companies below for more information.