Kenai Peninsula Borough, Alaska Housing Market
In Kenai Peninsula Borough, Alaska, the median home value is $323,200, with a median monthly rent of $1,184. This places Kenai Peninsula Borough at #520 nationally out of 3134 counties by median home value, and #10 within Alaska.
📈 Price Trend (2017 → 2024)
📊 Recent Market Momentum (FHFA HPI)
FHFA House Price Index — All-Transactions, Annual (2000 = 100) · Latest: 2025
📍 Economic Snapshot
Employment & Wages
- Avg weekly wage: $1,207
- Establishments: 2,262
- BLS QCEW, 2025
Housing Supply
- Single-family: 181
- Multi-family: 41
- U.S. Census Bureau, Building Permits Survey
Migration Patterns
- Inflow: 25,863 (avg $91,492)
- Outflow: 23,573 (avg $92,113)
- IRS Statistics of Income
📍 Sub-Market Activity
Top 4 active ZIP codes in Kenai Peninsula Borough · Latest: 2025
| # | ZIP Code | HPI | YoY Change | Latest Year |
|---|---|---|---|---|
| 1 | 99603 | 300.9 | -2.06% | 2025 |
| 2 | 99664 | 328.0 | +10.85% | 2025 |
| 3 | 99611 | 287.4 | +4.63% | 2025 |
| 4 | 99669 | 282.2 | +8.51% | 2025 |
Source: FHFA HPI for Five-Digit ZIP Codes (All-Transactions Index, 2000 = 100).
This product uses FHFA Data but is neither endorsed nor certified by FHFA.
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| Metric | Kenai Peninsula Borough | Alaska Average | U.S. Average |
|---|---|---|---|
| Median Home Value | $323,200 | $283,493 | $227,706 |
| Median Gross Rent | $1,184 | $1,248 | $968 |
| Owner Occupancy Rate | 77.0% | 64.7% | 73.3% |
| Price/Rent Ratio | 22.7 | 19.0 | 18.7 |
Market Analysis
The median home value in Kenai Peninsula Borough is 14.0% above the Alaska state average and 41.9% above the U.S. national average. The median rent of $1,184/month is 5.1% below the state average.
With a price-to-rent ratio of 22.7, renting is generally more cost-effective than buying in the short to medium term. The market favors buyers only for long-term holds.
Kenai Peninsula Borough has an owner-occupancy rate of 77.0%, compared to 64.7% in Alaska and 73.3% nationally. This indicates a more homeowner-heavy market than the U.S. average.
Similar Counties by Home Value
| County | State | Median Home Value | Median Rent |
|---|---|---|---|
| Ottawa County | Michigan | $323,400 | $1,211 |
| Southeastern Connecticut Planning Region | Connecticut | $323,400 | $1,365 |
| Benton County | Arkansas | $323,500 | $1,277 |
| Centre County | Pennsylvania | $323,500 | $1,207 |
| Capitol Planning Region | Connecticut | $323,700 | $1,411 |
Other Counties in Alaska
| County | Median Home Value | Median Rent | Owner Occ. |
|---|---|---|---|
| Petersburg Borough | $315,100 | $950 | 65.7% |
| Chugach Census Area | $346,200 | $1,369 | 63.8% |
| Matanuska-Susitna Borough | $346,600 | $1,299 | 77.2% |
| Fairbanks North Star Borough | $298,200 | $1,459 | 61.7% |
| Wrangell City and Borough | $296,400 | $993 | 59.1% |
Data Source: U.S. Census Bureau, American Community Survey (ACS) 2024 5-Year Estimates (2017–2024). Variables: B25077 (Median Home Value), B25064 (Median Gross Rent), B25003 (Tenure). Data collected on 2026-10-14. The price-to-rent ratio is calculated as Median Home Value ÷ (Median Monthly Rent × 12).