Alaska: In the Spotlight
Alaska, often known as the Last Frontier, is home to over 735,000 people. The state of Alaska is the 47th most populous state, and is also home to cities like Juneau, which is the capital city of the state with more than 31,000 residents in the city. Anchorage is another key location in the state, with more than 293,000 people calling the region home.
- Alaska produces 25% of the nation’s oil.
- The Fort Wainwright Military Base is the largest employer in Alaska, with just over 6000 employees.
- The oil/gas industry and tourism are the two largest industries in the state, followed closely by the fishing industry.
- The average household income is $77,640.
- The average age in Alaska is 34years old.
- Alaska has over 264,000 employees across the state.
- The homeownership rate is just under 65%, which leaves 35% of the residents looking for apartments and rental properties.
Alaska Apartment Loan and Multifamily Property Facts
Alaska is seeing moderate growth across many of its cities and regions when it comes to new residents seeking multifamily living. Condos and apartment buildings are growing in popularity once again, and with the development going on in some cities, opportunities will be plentiful for the foreseeable future. The 2020 housing market, like many, was a little slow, but it still made some big impacts.
- Alaska is home to several cities that are prime markets for investors to acquire a rental property investment in for 2021.
- Rents in Alaska are 0% higher than the previous year (2020).
- The average rent in Alaska is $1,244.
The market for commercial real estate in Alaska is huge and growing by the day, thanks to an ever-expanding job market and a growing base of young families who prefer to rent rather than buy a home. Those who get in now will have a better chance of finding the best deals and not overpaying or missing out on the biggest profit potential. The state is expected to see above-average population growth through 2024, contributing to an ever-increasing demand for apartments, condos, and other rental units.
Alaska Apartment Loan and Lending Options
In the state of Alaska, there are several different ways that you can finance your new apartment investment, whether you’re looking for a massive multi-unit tower in Fairbanks or a simple eight-unit property in an up-and-coming neighborhood of Nome. We work with opportunities like:
- Traditional apartment loans
- Fannie Mae/Freddie Mac
- FHA/HUD financing
- Conduit financing
- Apartment construction loans
- And more!
Finance Your Alaska Apartment Building Now
Apartment.loans has an expert team specializing in apartment building loan products and options available for borrowers and investors of apartment properties throughout Alaska. Whether you are looking to finance a small apartment building, a complex with hundreds of units, or a cooperative, our team endeavors to meet all of your apartment mortgage loan needs. Alaska is a state that has been a decently strong market for apartment property loans and we are no strangers to arranging high-quality loans in the state for investors. We have a plethora of many available loan products to help qualified borrowers purchase or refinance an apartment property.
Apartment.loans offers apartment loans with terms and amortizations of up to 30 years, with recourse and non-recourse options, and flexibility when it comes to prepayment. Alaska apartment property loans typically close within 45 days of application. With the apartment.loans streamlined application process (with no-cost and no-obligations), gain unbiased access to the best possible apartment financing in the state of Alaska!
Apartment loans from $750,000 and up.