The population of Juneau is ageing and unless a lot of young residents move into the capital of Alaska There may not be enough workers to fill the positions and take care of the city’s older citizens.
This is one of the lessons learned of the current economy indicator study by the Juneau Economic Development Council.
“For this first time in the history of our office here in Juneau that the population of people over 60 surpasses the younger crowd,” JEDC Executive Director Brian Holst said at a presentation to the Juneau Chamber of Commerce last week.
The birth rate in Juneau isn’t enough to keep its number without a surge of people moving to this area. However, Robin Thomas, an attendee at the event, said this isn’t the time to have children in Juneau.
” style=”font-weight 400 ;”>”If you’re thinking about having an infant, you’ll need to consider the costs that daycare costs, medical costs as well as housing” the actress said during an interview. “There’s plenty of things that go against us. .”
If this trend continues, it could result in that there are fewer parents, lower participation of Juneau School District Juneau School District as well as an enlarging summer workforce, and an increase in demand for senior health services and care.
“This will be a major influence on how we consider what we ought to do as a collective,” Holst said.
Where did the new housing go?
Housing remains the biggest obstacle for those who are considering moving to Juneau. The owners of businesses in the area have claimed that the absence availability of homes is their most significant issue in attracting and keeping employees.
This is even with Juneau increasing by about 1,500 units over the past decade.
The span style=”font-weight 400 ;”>”Our population grew by a mere 1,” Holst said. “So where was all the housing go? ?”
Holst stated that some of it is now short-term rentals. This could have increased by 2022. .
span style=”font-weight 400 ;”>”We also recognize that tourism firms that, in order to let them shine somewhat, had to buy the right place for their workers,” he said.
The population decline in Juneau is hindering the availability of housing as more senior citizens choose to remain at home. Holst stated that nearly 800 homes are occupied by seniors over 65 who live on their own.
The amount of Juneau homes sold has been declining since reaching the highest level of the decade in 2021. In that year, close to 500 houses were bought. Around 100 homes were sold in the first quarter of the year.
Initiatives to improve housing supply are being considered to increase housing availability.
The city’s leaders have increased the amount of the grants that will help residents construct additional dwelling units and are considering adding a new dwelling on Telephone Hill. Tlingit Haida Regional Housing Authority plans to build homes in the Juneau’s Pederson Hill subdivision, and assists tribal residents in becoming homeowners. A senior living facility was opened in the summer of this year, offering the elderly with a fresh option who want to move out of their homes but remain in Juneau.
For the moment, however the market is constrained. The homes that are put for sale don’t stay available for very lengthy. In the year 2019, the average amount of days homes were listed for sale were 18 consecutive days. In 2020, it fell to 8, and then fell to 5 over the next two years.
“span style=”font-weight 400 ;”>”As homes are put up for sale despite the high interest rates, they’re going to sell really, really really fast,” Holst said.
Cost of living is high
As of this time the median cost has been $515,000 for single-family houses. Residents who reside in Juneau have an annual cost of $1420 per month. Juneau has the lowest vacancy rate of other parts in the entire state.
The span style=”font-weight 400 ;”>”The vacant rate and the cost of a home are closely related,” Holst said. “If there isn’t many competitors then there’s no need of reason not to cut the rent. .”
The cost of things such as health care and groceries might also deter people from making the move to Juneau. The cost of living in Juneau is higher than Anchorage as well as Fairbanks.
Mining jobs provide the highest average monthly wage in Juneau However, Holst stated that a lot of these employees travel between Juneau and other locations in the country or state.
The span style=”font-weight 400 ;”>”The pay is great. It would be fantastic to get them. It will be good for the economy of our country,” he said. “But they don’t want to reside in Juneau. Do you think the cost of living is a component of the reason? I believe it could be.”
Holst stated that Juneau offers a wide range of jobs that are good however, potential workers won’t relocate in case they aren’t able to live in Juneau.
The span style=”font-weight 400 ;”>”We have a smaller number of people, a lower number of workers, and a growing number of senior citizens who require assistance however, we have an economy that’s actually very robust,” Holst said. “We can find mining employment, fishing jobs, and we have tourism jobs however, we do not have the workforce. .”
