Invest in Ketchikan
Over the last several years, Ketchikan has been making the necessary preparations for the growth that we are starting to see in tourism. From work on the 4 berths in Ketchikan to applying for a permit to blast some underwater rock to help expand the waterways for cruise ship docking, which is scheduled to take place between November 2019 and March 2020, the town is making efforts to accommodate the growing industry.
For the first time in 2017, Ketchikan went over 1,000,000 visitors coming off our cruise ships. That number was projected to grow in 2018 and grow again in 2019. In 2018, Ketchikan saw 1,119,271 cruise ship passengers according to City of Ketchikan Ports & Harbors report (click the link below for the full report). Some have projected that the numbers could be as high as 1,500,000 visitors to Ketchikan in 2019.
The reason an increase in these numbers is important, especially if you are thinking of investing in Ketchikan, is because more jobs will be needed. More tourists mean more jobs to handle the influx of passengers, and more jobs mean more homes will be needed. According to a report given by Meilani Schijvens from Rain Coast Data, Ketchikan added 380 more jobs in 2018. Home prices have also increased during the last couples of years and they are projected to continue to rise. Rent for a one bedroom is around $875, a two bedroom is close to $1050, and a three bedroom ranges from $1,500 to $2,000 a month, according to Rent Jungle.
With cruise lines adding more, larger ships to the west coast to meet the growing desires to visit Alaska and more factories coming to Ketchikan, this is a great time to invest in Ketchikan real estate. If you have any questions, or you want to take advantage of this rapidly expanding tourism industry by buying or selling a home, please feel free to contact me.