In the last video, we talked about why we love investing in Tacoma. In this video, we will talk about another area on the West Coast and that is Bremerton.
Here are four reasons why we absolutely love Bremerton, Washington.
Number one, great location. Bremerton is located just across the Puget Sound from Seattle, providing easy access to the economic opportunities and cultural amenities of the Seattle metropolitan area. This proximity makes it an appealing location for people who work in Seattle but seek more affordable housing options.
Number two, thriving population and jobs. Currently, Bremerton’s population is at 42,985 and the city’s projected 2036 population is at 53,407. Jobs would also grow by 18,782, primarily due to the addition of jobs in the Puget Sound Industrial Center.
Bremerton also boasts a robust economy supported by a diverse range of top employers, including:
Naval Base Kitsap: As a significant naval installation, Naval Base Kitsap plays a crucial role in national defense and is a major contributor to the local economy.
Puget Sound Naval Shipyard: This renowned shipyard is a hub of ship maintenance, repair, and modernization, providing essential employment opportunities in the region.
Naval Undersea Warfare Center: This center is at the forefront of undersea warfare technology and innovation, driving both military advancements and local employment.
Harrison Medical Center: As a leading healthcare facility, Harrison Medical Center is a vital contributor to the Bremerton community, offering quality healthcare services and employment opportunities.
Naval Hospital Bremerton: Serving the healthcare needs of military personnel and their families, Naval Hospital Bremerton plays a crucial role in the region’s healthcare sector.
These top employers not only bolster the local job market but also enhance the overall vitality and stability of Bremerton’s economy, making it an attractive destination for both residents and investors.
Reason number three, there’s an ongoing demand for home and rental properties in Bremerton. Bremerton has seen over 4% average annual rent growth, and over 12% average home price appreciation over the last 6 years and you might be thinking “Will this trend continue?” With the Puget Sound region set to continue growing with its vision 2040, and with Bremerton being significantly affordable in-home price and rent prices compared to nearby cities like Seattle or Bellevue, it’s actually really easy to see why Bremerton remains an attractive option for those looking to live up here in the Pacific Northwest.
Now reason number four is Bremerton is actually a lot more landlord and business-friendly than nearby cities and states. Similar to Tacoma which we covered in the last video. There is no rent control, there’s no eviction moratorium, and there are no state income taxes in the state of Washington. Now of course things can always change, but at the time of this recording, Bremerton is positioned to be a lot more landlord-friendly and a lot more business-friendly than other West Coast markets.