Lake Havasu City is a diverse collection of different individuals and lifestyles, and represents all cultures and walks of life. The city has been growing and changing over the past 30 years, morphing from essentially a tourist town in the seventies to a thriving city that now boasts a large number of people that consider it a full time home. This is a stark shift in population, where it used to be that families either owned a second home in the area or came to town to rent a home for a period of time that they were vacationing, Lake Havasu now supports a large community of people who stay here year round, and who maintain jobs and lives in the city. Lake Havasu is not just for renters and vacationers any more.
The population boom of people who maintain their primary residence in Lake Havasu is undoubtedly due to the growth in tourism. The initial population that considered itself full time was probably working in the services that supported the tourists during the busy seasons from December until March of each year. These people opened businesses or worked in businesses that provided the services that the tourists were seeking. Many of the industries that thrived were in the boating and marine industries as well as customer service in restaurants and hotels. The seasonality of these types of jobs made it more difficult than it is today for the full time residents in the past, as the city population would drop significantly after the last of the spring breakers left town in late March. After that point, the city population would be cut nearly in half, and many of the businesses that are almost totally dependent on tourism would close for the season. As the numbers of tourists grew, so did the need for workers to services them. As a result, the needs of this full time population became necessary to service, and other industries began to grow in the area. One of the most significant growth industries in Lake Havasu became the medical fields, where the populations of retirees needed medical care at rates slightly higher than other cities. Because of the needs of treatment of the older members of the population as well as a lacking in medical facilities in surrounding areas, Lake Havasu became a hub for specialized medical treatments. This made it far easier to find a job in Lake Havasu than in the more competitive areas like Phoenix and Las Vegas.
The real estate market in Lake Havasu also swelled, as investors realized that there was money to be made in the rental markets that are created by the tourism season. This created rising prices, which lead to booms in the construction business as a lack of inventory and large numbers of people combined to form a good real estate market for sellers. Those looking to invest purchased homes to rent out and create income over time, and those looking to live in the area benefited from the increasing prices over time as equity built up in the properties they had purchased. Today, Lake Havasu is both a tourist location and a home to many residents.
If you want to purchase a home in Lake Havasu, contact us today.