Ketchikan Gateway Borough Real Estate and Livability Trends
Ketchikan Gateway Borough, Alaska's real estate market is on the rise, with median home values hitting $361,000 in 2022, well above the statewide and national medians. Notably, real estate taxes have climbed to $4,818.52 in 2021, hinting at increasing property values and living costs. Mortgage activities favoring principal residences peaked in 2021, illustrating strong market interest, although... Read more
Ketchikan Gateway Borough Market Trends
Ketchikan Gateway Borough, Alaska's housing market is showing impressive growth, with median home values jumping to $361,000 in 2022, significantly outpacing the statewide and national medians. Residential energy tax credits have seen significant highs and lows, peaking at $700.00 in 2019 before averaging $433.33 in 2021, implying potential state and federal energy incentives for eco-friendly... Read more
Median Value of Occupied Housing Units in Ketchikan Gateway Borough, Alaska Over the Last 8 Years
Ketchikan Gateway Borough, Alaska's housing market has shown steady growth, with median home values rising from $252,500 in 2015 to $361,000 in 2022. This local market appears to outpace not only the statewide median, which increased to $318,000 by 2022, but also the national median, which was $179,400 in the same year. For investors and new residents, this trend might suggest a robust demand and appreciating property values in Ketchikan Gateway Borough.
Residential Energy Tax Credit Per Tax Return in Ketchikan Gateway Borough, AK Over the Last 8 Years
Residential energy tax credits in Ketchikan Gateway Borough, Alaska have exhibited significant fluctuations over the past eight years. Most notably, there was a dramatic spike in 2019, with credits reaching an average of $700.00 per tax return, a considerable leap from the previous years. Although the credit amounts have since decreased, the recent average of $433.33 in 2021 suggests an upward trend compared to earlier years like 2015, which saw an average of just $225.00. This volatility signals opportunities for savvy investors and property developers to potentially benefit from state and federal energy incentives, making the area increasingly attractive for eco-conscious residents and businesses.
Average Real Estate Taxes Per Tax Return in Ketchikan Gateway Borough, AK Over the Last 10 Years
Ketchikan Gateway Borough in Alaska has seen a noticeable increase in average real estate taxes per tax return over the past decade, with a jump from $2,762.24 in 2012 to $4,818.52 in 2021. This upward trend points to potentially rising property values, which might be appealing for those looking to invest in or build property in the area. However, the substantial increase in annual tax rates could also impact the overall cost of living, making it essential for future residents and investors to weigh these financial considerations.
Percentage of Farm Returns in Ketchikan Gateway Borough, AK Over the Last 7 Years
Ketchikan Gateway Borough, Alaska has seen slight fluctuations in the percentage of farm returns over the past seven years, reaching a peak of 0.41% in 2014 and a low of 0.27% in both 2012 and 2015. Notably, in 2021, the percentage of farm returns rose again to 0.35%, signaling a potential resurgence in agricultural activities. For investors, builders, and residents, these farm tax return figures suggest a marginal yet present agricultural sector that could be indicative of broader economic trends in rural development and land use within the borough.
Number of Mortgages by Occupancy Type in Ketchikan Gateway Borough, AK Over the Last 5 Years in Ketchikan Gateway Borough
Mortgage activity in Ketchikan Gateway Borough, Alaska over the past five years shows a significant tilt towards principal residences, with smaller yet notable segments of investment and second properties. The number of mortgages for principal residences surged from 331 in 2018 to 546 in 2021, before declining to 295 in 2022, hinting at possible market saturation or economic fluctuations. Investment property financing has remained relatively steady, hovering around 20 mortgages per year, reflecting consistent investor interest without dramatic spikes. Second residences, though small in number, show slight variations, suggesting niche demand. These trends provide valuable insights for potential investors, developers, real estate agents, and insurance agents, highlighting the residential focus of the local market while also pointing to steady investment interest. Changes in occupancy types can reveal broader economic or demographic shifts, such as increased local residency or varying investment strategies, that could influence property values and market stability.
Economic Outlook
In Ketchikan Gateway Borough, Alaska, the average taxable income per tax return has climbed notably over the past nine years, with a recent peak of $75,699.71 in 2021, despite a minor dip in 2020. Income tax trends fluctuate, with a sharp tax increase in 2018 but a significant decline by 2021. The average total tax liability per tax return has also shown an overall upward trend, peaking at $11,767.80 in 2021. These shifts suggest an economic upswing and increasing financial stability, making... Read more
Average Taxable Income per Tax Return in Ketchikan Gateway Borough, AK over the last 9 years
Over the past nine years, Ketchikan Gateway Borough, AK has seen a notable increase in average taxable income per tax return, peaking most recently at $75,699.71 in 2021. Despite a slight dip in 2020 to $64,040.17, the overall trend has been upward, highlighting economic growth and potentially increasing financial stability for residents. This upward trajectory in income could impact decisions for those considering moving to or investing in the area.
Average State and Local Income Taxes Per Tax Return in Ketchikan Gateway Borough, AK Over the Last 10 Years
Over the last decade, Ketchikan Gateway Borough, AK has seen significant fluctuations in average state and local income taxes per tax return. Notably, there was a sharp increase to $7,575.00 in 2018, contrasting with the general downward trend from a peak of $4,138.46 in 2017 to a lower $2,000.00 in 2021. These variations highlight the dynamic tax environment in the region, impacting financial planning considerations for both current residents and potential new residents.
Average Total Tax Liability Per Tax Return in Ketchikan Gateway Borough, AK Over the Last 10 Years
The average total tax liability per tax return in Ketchikan Gateway Borough, Alaska has shown some fluctuations over the last decade, peaking at $11,767.80 in 2021. Despite occasional dips, such as in 2020 when it fell to $9,987.50, the general trend indicates a steady increase, particularly notable from 2017 onwards. This data suggests a rising economic footprint and higher personal incomes, making the borough an attractive option for investors and new residents looking for growth potential.
Cost of Living in Ketchikan Gateway Borough
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,815 | $1,814 | $2,358 | $1,709 | $1,630 |
| 1 adult 4 children | $1,815 | $1,481 | $1,825 | $1,709 | $1,753 |
| 2 adults 3 children | $1,815 | $1,482 | $2,035 | $1,709 | $1,357 |
| 1 adult 3 children | $1,815 | $1,210 | $1,502 | $1,709 | $1,463 |
| 2 adults 2 children | $1,354 | $1,213 | $1,712 | $1,488 | $1,028 |
| 1 adult 2 children | $1,354 | $906 | $1,179 | $1,488 | $1,056 |
| 2 adults 1 child | $1,354 | $959 | $1,389 | $769 | $881 |
| 1 adult 1 child | $1,354 | $619 | $856 | $769 | $791 |
| 2 adults | $1,029 | $770 | $1,066 | $0 | $699 |
| 1 adult | $905 | $420 | $533 | $0 | $566 |
Safety trends & Data
Over the last five years, Ketchikan Gateway Borough, Alaska has seen notable decreases in property crimes such as larceny-theft and burglary, suggesting a potentially safer environment for residents and investors. In 2018, there were 106 reported cases of larceny-theft, which steadily declined to just 5 cases by 2022. Burglary incidents similarly dropped from 15 in 2018 to zero by 2022. While vandalism saw fluctuations, it also showed an overall downward trend. These shifts could indicate... Read more
Property Crime Trends in Ketchikan Gateway Borough, AK Over the Last 5 Years
Over the last five years in Ketchikan Gateway Borough, Alaska, notable decreases in property crimes such as larceny-theft and burglary underscore a potentially safer environment for residents and investors. In 2018, there were 106 reported cases of larceny-theft, a figure that steadily declined to just 5 cases by 2022. Similarly, burglary incidents dropped from 15 in 2018 to zero by 2022. While vandalism saw fluctuations, it also showed an overall downward trend. These shifts could indicate improved community safety measures or changing socio-economic conditions, making Ketchikan Gateway Borough possibly more appealing for new developments and insurance considerations.
Demographics
Ketchikan Gateway Borough's demographic landscape reveals a community with a nearly balanced gender distribution, where males slightly outnumber females. Educational attainment shows a significant portion holding "Some college, no degree" status, suggesting potential gaps in completing higher education. Age distribution leans towards a relatively young population, with sizeable groups in the 25-34 and 35-44 year brackets, which could indicate a workforce in their prime working years. In terms... Read more
Race Distribution in Ketchikan Gateway Borough, Alaska (2022)
Educational Attainment in Ketchikan Gateway Borough, Alaska (2022)
Age Distribution in Ketchikan Gateway Borough, Alaska
Citizen Population in Ketchikan Gateway Borough, Alaska (2022)
School Data
The student-to-teacher ratio in Ketchikan Gateway Borough, Alaska, has seen notable variations, peaking at 30 in 2021 and dropping to a low of 14 in 2016, often remaining above the national average. These fluctuations are crucial for investors, property developers, and real estate agents as they signal potential changes in educational resource availability, which could impact family relocations and local housing demand. Insurance agents and appraisers might find these ratios useful when... Read more
Student-to-teacher ratio in Ketchikan Gateway Borough, Alaska over the last 10 years
The student-to-teacher ratio in Ketchikan Gateway Borough, Alaska, has experienced significant fluctuations over the past decade, peaking at 30 in 2021 and seeing a low of 14 in 2016. This ratio often hovers above the national average of 14 students per teacher. Such changes in occupancy type are crucial for investors, property developers, and real estate agents because they hint at potential shifts in educational resource sufficiency, impacting family relocations and local demand for housing. Insurance agents and appraisers might consider these ratios when assessing risk and value, respectively, while residents and those considering a move to the area should be aware of potential classroom crowding issues that could affect the quality of education.
