Kenai Peninsula Borough, Alaska Housing Market Prices
Kenai Peninsula Borough Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 17% below the Alaska median More expensive than 70% of counties in Alaska$264,574
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Median rent 17% below the Alaska median$1,183
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Kenai Peninsula Borough | Alaska Avg | US Average |
|---|---|---|---|
| Median Home Price | $264,574 | $320,616 | $248,835 |
| Price Trend (Annual %) | 4.4% | 5.4% | 7.5% |
| Median Gross Rent | $1,183 | $1,418 | $1,407 |
| Rent Trend (Annual %) | 2.5% | 2.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Kenai Peninsula Borough is about 17% lower than in Alaska. Rent is about 17% lower than the Alaska average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Kenai Peninsula Borough, up about 4.4% and 2.5% a year respectively. Home prices are changing faster.
Median rent in Kenai Peninsula Borough rose about 25.8% between 2015 and 2024, from $940 to $1,183. Over the same span, rent in Alaska rose about 23.8%.
Affordability
On average, housing unit costs 3.3 yearly household incomes in Kenai Peninsula Borough.
Buying the median-priced home in Kenai Peninsula Borough costs roughly 18.6 years of rent at the median monthly rate. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Kenai Peninsula Borough. The price-to-rent ratio in Alaska is about 18.8.
| Metric | Kenai Peninsula Borough | Alaska Avg | US Average |
|---|---|---|---|
| Median Home Price | $264,574 | $320,616 | $248,835 |
| Median Household Income | $80,026 | $93,666 | $80,455 |
| Price-to-Income Ratio | 3.3 | 3.4 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Kenai Peninsula Borough rose about 43.5%, while median household income rose about 36.6% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Kenai Peninsula Borough | Alaska Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 57.2% | 55.1% | 58.5% |
| Rental Rate | 17.0% | 27.3% | 31.2% |
| Vacancy Rate | 25.7% | 17.6% | 10.2% |
| Median Tenure (years) | 15.0 | 14.0 | 15.0 |
| Median Year Moved In | 2011 | 2012 | 2011 |
Kenai Peninsula Borough has a homeownership rate of 57.2%, higher than the Alaska average of 55.1%. Its housing vacancy rate is 25.7%, compared with 17.6% in Alaska.
Housing Stock
| Metric | Kenai Peninsula Borough | Alaska Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.40 people | 2.61 people | 2.53 people |
| Median Structure Built Year | 1992 | 1986 | 1978 |
| Median Number of Rooms | 4.7 | 4.8 | 5.5 |
The typical housing unit in Kenai Peninsula Borough was built around 1992. On average, 2.4 people live in a home with about 4.7 rooms, staying for about 15.0 years on average.
Kenai Peninsula Borough, AK Housing Compared With Nearby Counties
How Kenai Peninsula Borough, AK compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Kenai Peninsula Borough, AK | 60,577 | $264,574 #2/3 | $1,183 #3/3 | 77.1% #2/3 |
| Anchorage Municipality, AK | 288,818 | $334,902 | $1,488 | 63.9% |
| Matanuska-Susitna Borough, AK | 112,982 | $262,501 | $1,299 | 77.2% |
Frequently Asked Questions
Common questions about the housing market in Kenai Peninsula Borough, Alaska.
What is the median home price in Kenai Peninsula Borough, Alaska?
The median home price in Kenai Peninsula Borough, Alaska is $264,574, lower than the Alaska average of $320,616.
What is the average home price in Kenai Peninsula Borough, Alaska?
The typical home price in Kenai Peninsula Borough, Alaska, reported as the median sale price, is $264,574. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Kenai Peninsula Borough, Alaska?
The median gross rent in Kenai Peninsula Borough, Alaska is $1,183 per month, lower than the Alaska average of $1,418.
What was the median gross rent in Kenai Peninsula Borough in 2020?
In 2020, the median gross rent in Kenai Peninsula Borough, Alaska was $1,072 per month.
What is the price-to-rent ratio in Kenai Peninsula Borough, Alaska?
The price-to-rent ratio in Kenai Peninsula Borough, Alaska is about 18.6, meaning it would take roughly 18.6 years of rent payments at the median rent to equal the median home price. That is a moderate price-to-rent ratio, where buying and renting are often similarly cost-effective in Kenai Peninsula Borough.
Are home prices or rent rising faster in Kenai Peninsula Borough, Alaska?
Both home prices and rent are rising in Kenai Peninsula Borough, up about 4.4% and 2.5% a year respectively. Home prices are changing faster.
What is the homeownership rate in Kenai Peninsula Borough, Alaska?
57.2% of households in Kenai Peninsula Borough, Alaska own their home, higher than the Alaska average of 55.1%.
What is the vacancy rate in Kenai Peninsula Borough, Alaska?
The housing vacancy rate in Kenai Peninsula Borough, Alaska is 25.7%, higher than the Alaska average of 17.6%.
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