Kenai Peninsula Borough Area Home Supply Charts

This page looks at a variety of Kenai Peninsula Borough Alaska housing market data taken from the most recent 2022 American Community Survey census data. Housing units are structures such as a single family home, apartment community, mobile home park, public housing, etc. where a person or family live and live separately from other residents of the building. Figure 1 shows the total number of housing units for each city. Kenai Peninsula Borough depicts it has a Housing Units of 32,406 which is the second most housing units of all the counties in the greater Kenai Peninsula Borough region.

Figure 2 illustrates the housing density in the Kenai Peninsula Borough housing market as measured by housing units per square land mile (includes single family homes, apartments, etc.) Kenai Peninsula Borough shows it has a Housing Density of 2.0 which is the second most housing densities of all the counties in the greater Kenai Peninsula Borough region. The county with the highest housing density in the area is Anchorage Municipality which shows a density of 69.2 ( markedly bigger). Comparing housing density to the United States average of 39.5, Kenai Peninsula Borough is only about 5.1% the size. Also, benchmarked against the state of Alaska, housing density of 0.6, Kenai Peninsula Borough is approximately 3.6 times bigger.

In Figure 4, Kenai Peninsula Borough area change in the number of housing units and is a forward gauge (along with population change) for any potential housing shortage. Kenai Peninsula Borough depicts it has a Housing Unit Change of 6.0% which is the second most housing units of all the counties in the greater Kenai Peninsula Borough region. The county with the highest change in the housing units in the area is Kodiak Island Borough which shows a housing units of 8.4% (41.0% larger). Comparing change in the housing units to the United States average of 7.4%, Kenai Peninsula Borough is about 23.6% smaller. Also, measured against the state of Alaska, change in the housing units of 5.7%, Kenai Peninsula Borough is only about 5.1% larger.

Figure 5 shows the percentage of rental property based on that they are occupied by renters as a percent of the total number of households in the community (including homes, apartments, etc.) Kenai Peninsula Borough depicts it has a Renter Percent of 23.5% which is the second smallest in order of renter percent of all the other counties in the greater region. Figure 6 illustrates the total number of housing units that are occupied by owners. it has a Owner Percent of 76.5% which is the second most owner percent of all the counties in the greater Kenai Peninsula Borough region.

Kenai Peninsula Borough Home Cost Charts

Looking at the housing data provided in Figure 7, the average Kenai Peninsula Borough home price is illustrated for this community and a useful analysis of affordable housing. Kenai Peninsula Borough depicts it has a Median Home Value of $249,100 which is the third most median home prices of all other counties in the greater Kenai Peninsula Borough region. The county with the highest median home price in the area is Anchorage Municipality which depicts a home price of $327,500 (31.5% larger). Figure 8 provides aggregate comparative data for the Kenai Peninsula Borough Alaska metro area in terms of the median housing rental rate, apartment rent, etc. Kenai Peninsula Borough depicts it has a Median Gross Rent of $1,081 which is in the middle range of other counties in the metro area. The county with the highest rental rates in the area is Kodiak Island Borough which depicts a rental rates of $1,483 (37.2% larger). Comparing rental rates to the United States average of $1,163, Kenai Peninsula Borough is about 7.6% smaller. Also, compared with the state of Alaska, rental rates of $1,279, Kenai Peninsula Borough is about 18.3% smaller.

Figure 9 provides the frequency distribution of home prices for the area and is useful for understanding affordable housing fund. Kenai Peninsula Borough has the percentage of home price worth less than $50,000 less than most other counties in the local area at 5% of the total. Second, it has one of the largest proportions of home price worth between $100,000 to $200,000 at 33% of the total and is ranked #2. The only larger county being Bristol Bay Borough with 33%.

Median owner costs for the real estate market are shown in Figure 10 and include the costs associated with any mortgage, utility expenses, insurance, and other miscellaneous costs. Kenai Peninsula Borough shows it has a Median Owner Cost of $990 which is the third most of all other counties in the surrounding region. Figure 11 shows the median amount of cost as a percent of total household income for people who own homes in the Kenai Peninsula Borough metro area. it has a Owner Cost as % of HH Income of 16% which is the third most of all other counties in the local area.

The next chart, Figure 12, provides a comparison chart of the median home cost as a percent of a median worker take home earnings and is thus a valuable measure of affordable housing. Kenai Peninsula Borough depicts it has a Median Home Value as Percent of Median Earnings of 427% which is in the center range of other counties in the greater region.

Figure 14 depicts the median cost of housing for owners with also have a mortgages (versus those who do not have a mortgage because mortgage cost is included.) Kenai Peninsula Borough shows it has a Median Owner Costs-With Mortgage of $1,699 which is in the mid range of other counties in the metro area. Figure 15 is a chart that shows the median housing costs for owners who do not have mortgages (and therefore the cost of home ownership does not include mortgage cost.) it has a Median Owner Costs-Without Mortgage of $486 which is in the mid range of other counties in the area.

Figure 16 shows the distribution in total housing cost for owners of property (so not renters.) This cost includes mortgages, lines of credit interest, utilities, taxes, insurance, etc. Kenai Peninsula Borough has one of the largest proportions of owner cost between $1,000 and $1,500 at 18% of the total and is ranked #2. The only larger county being Anchorage Municipality with 18%.

Next shown in Figure 17 is the housing cost as a percent of household income for people who own their homes and have a mortgages (thus the cost of financing the home is included.) Kenai Peninsula Borough depicts it has a % of Income Owner Costs-With Mortgage of 22% which is the third most cost as a percent of household income of all other counties in the greater Kenai Peninsula Borough region. The county with the highest cost as a percent of household income in the area is Kodiak Island Borough which depicts a cost as a percent of household income of 23% (8.8% larger). Housing cost as a percent of household income for owners who do not have a mortgage is shown in Figure 18. This analysis can be useful for understanding the affordable housing for home ownership excluding any financing cost in the area shown. Kenai Peninsula Borough shows it has a % of Income Owner Costs-No Mortgage of 9% which is less than most other counties in the greater region. The county with the highest cost as a percent of household income in the area is Kodiak Island Borough which depicts a cost as a percent of household income of 13% (44.4% larger).

Figure 19 looks at the cost of rent for rental property using the percent of total household income which is a valuable measure of financial health for the area. (The higher the proportion of rent payments to total household income is a sign of greater financial stress. Also, rent can be covered by rent assistance and rent assistance programs in the form of rent assistance.) Kenai Peninsula Borough has one of the largest proportions of rent as a percent of income is less than 10 pct at 22% of the total and is ranked #3. Only #2 Denali Borough (22%), and #1 Bristol Bay Borough (24%) are larger. Second, it has one of the largest proportions of rent as a percent of income is between 20pct to 30pct at 15% of the total and is ranked #3. Only #2 Denali Borough (15%), and #1 Anchorage Municipality (17%) are larger. Third, it has one of the largest proportions of rent as a percent of income is between 30pct to 40pct at 8% of the total and is ranked #3. Only #2 Anchorage Municipality (9%), and #1 Kodiak Island Borough (10%) are larger. Also, it has the largest proportion of rent as a percent of income is between 40pct to 50pct at 19% of the total and is ranked #1.

Figure 20 shows the total housing cost for both home owners and apartment community renters in the area. Kenai Peninsula Borough has the largest proportion of housing cost between $500 and $700 at 14% of the total and is ranked #1.

Figure 21 shows median amount of real estate taxes paid for home owners in the region. it has a Median Real Estate Taxes Paid of $1,759 which is in the center range of other counties in the local area. The county with the highest median real estate taxes paid in the area is Anchorage Municipality which depicts a taxes paid of $4,407 (approximately 2.5 times bigger). Comparing median real estate taxes paid to the United States average of $2,690, Kenai Peninsula Borough is approximately three-fourths the size. Also, compared to the state of Alaska, median real estate taxes paid of $3,464, Kenai Peninsula Borough is approximately half the size.

Figure 23 shows the rental rate distribution for this area. Kenai Peninsula Borough Alaska has the largest proportion of rent between 500 and 750 dollars at 19% of the total and is ranked #1. Second, it has one of the largest proportions of rent between 750 and 1000 dollars at 31% of the total and is ranked #3. Only #2 Anchorage Municipality (33%), and #1 Bristol Bay Borough (36%) are larger. Third, it has the largest proportion of rent between $2,500 and $3,500 at 1% of the total and is ranked #1.

Kenai Peninsula Borough Home Financing Charts

The analysis in Figure 25 shows the detailed distribution of owned homes by mortgage status. Kenai Peninsula Borough has one of the largest proportions of With mortgage at 49% of the total and is ranked #3. Only #2 Kodiak Island Borough (63%), and #1 Anchorage Municipality (63%) are larger. Second, it has less than most other counties in the metropolitan area in terms of With HELOC no Primary Mortgage at 48% of the total.

Figure 26 shows the proportion of houses with a mortgage versus those without a mortgage. Kenai Peninsula Borough has the percentage of houses with mortgages less than most other counties in the greater region at 48% of the total.

Kenai Peninsula Borough Home Characteristics Charts

Figure 28 shows the household size for families living in the area and it has a Family size of 3.3 which is the second smallest in order of family members per housing unit of all the other counties in the local area. The county with the highest family members per housing unit in the area is Yukon-Koyukuk Census Area which depicts a family members per housing unit of 3.8 (14.5% larger). Comparing family members per housing unit to the United States average of 3.3, Kenai Peninsula Borough is only slightly larger. Also, in comparison with the state of Alaska, family members per housing unit of 3.5, Kenai Peninsula Borough is only about 3.6% smaller.

Figure 29 show the median number of rooms in a typical home for each location in this area. it has a Median Number of Rooms of 4.6 which is the third most of all other counties in the local area. The county with the highest average number of rooms in a house in the area is Anchorage Municipality which shows an average number of rooms in a house of 5.3 (15.2% larger). Figure 30 shows, for the average house in each location, the median year that a house was built. This can be useful for understanding the relative age of one neighborhood versus another for a real estate investor. it has a Median Year Built of 1988 which is the largest of all counties in the greater Kenai Peninsula Borough region.

Figure 31 looks at the distribution of housing units by the median age that the homes were built. it has the largest proportion of homes built in 2020 or later at 7% of the total and is ranked #1. Second, it has the largest proportion of homes built between 2010 to 2019 at 22% of the total and is ranked #1. Third, it has the smallest proportion of homes built between 1950 to 1959 at 1% of the total.

Figure 32 shows the difference in the number of housing units based on whether they are occupied by owners versus occupied by renters. it has one of the largest proportions of owner housing units at 5,349 of the total and is ranked #2. The only larger county being Anchorage Municipality with 39,600.

Figure 34 shows the median value of homes broken down by the median year that the homes were built. it has one of the largest proportions of value of homes built 2020 or later at $283,200 of the total and is ranked #3. Only #2 Anchorage Municipality ($439,800), and #1 Kodiak Island Borough ($512,500) are larger. Second, it has in the intermediate range of other counties in the local area when sorted by value of homes built 2010 to 2019 at $270,300 of the total. Third, it has one of the largest proportions of value of homes built 2000 to 2009 at $254,100 of the total and is ranked #3. Only #2 Anchorage Municipality ($365,700), and #1 Kodiak Island Borough ($401,500) are larger. Also, it has in the mid range of other counties in the local area in order of value of homes built 1990 to 1999 at $261,600 of the total. In addition, it has one of the largest proportions of value of homes built 1980 to 1989 at $223,100 of the total and is ranked #3. Only #2 Kodiak Island Borough ($257,800), and #1 Anchorage Municipality ($326,000) are larger. Furthermore, it has in the mid range of other counties in the greater region when ranked by value of homes built 1970 to 1979 at $220,400 of the total. Next it has one of the largest proportions of value of homes built 1960 to 1969 at $221,800 of the total and is ranked #3. Only #2 Kodiak Island Borough ($253,100), and #1 Anchorage Municipality ($283,700) are larger. Additionally, it has one of the largest proportions of value of homes built 1940 to 1949 at $216,000 of the total and is ranked #2. The only larger county being Anchorage Municipality with $304,000.

Figure 35 compares the total number of occupied housing units to vacant housing units. This analysis can be used to understand any housing shortage in the community. has the percentage of occupied housing units less than most other counties in the local area at 30% of the total.

The next two charts show both the average household size of homeowners versus the average household size of renters. Starting with Figure 36 we see the household size of homeowners for Kenai Peninsula Borough residents. it has a Owner-Household Size of 2.5 which is the second smallest in terms of homeowner household size of all the other counties in the greater region. The county with the highest homeowner household size in the area is Kodiak Island Borough which depicts a homeowner household size of 3.0 (19.1% larger).

Figure 37 shows the household size for renters. Kenai Peninsula Borough depicts it has a Renter-Household Size of 2.5 which is in the center range of other counties in the metropolitan area. The county with the highest renter household size in the area is Lake and Peninsula Borough which depicts a renter household sizes of 3.0 (16.5% larger). Figure 38 shows the year that people who own homes moved into this region. it has one of the largest proportions of owners moved in 2019 or later at 22% of the total and is ranked #3. Only #2 Anchorage Municipality (23%), and #1 Bristol Bay Borough (25%) are larger. Second, it has the smallest proportion of owners moved in 2000 to 2009 at 12% of the total. Third, it has less than most other counties in the metropolitan area when ranked by owners moved in 1990 to 1999 at 13% of the total. Figure 39 shows the year that people who rent moved into the area. Kenai Peninsula Borough has the percentage of renters moved in 2019 or later less than most other counties in the metro area at 45% of the total.

Figure 40 compares the median year that home owners moved into their home. it has a Owner Median Year Moved In of 2007 which is the second most of all the counties in the metro area. Figure 41 compares the median year that renters moved into their home. Kenai Peninsula Borough depicts it has a Renter Median Year Moved In of 2017 which is the largest of all counties in the greater Kenai Peninsula Borough region.

Figure 42 shows the frequency distribution of various types of energy sources used for homes in the community. it has the largest proportion of homes using natural gas at 3% of the total and is ranked #1. Second, it has the second smallest in order of homes using natural gas of all the other counties in the local area when sorted by home using electricity at 26% of the total. Third, it has one of the largest proportions of homes using coal or coke at 8% of the total and is ranked #3. Only #2 Denali Borough (13%), and #1 Yukon-Koyukuk Census Area (52%) are larger.

The next two charts show the number of people living in group quarters and includes temporary as well permanent housing which may be run by the Kenai Peninsula Borough housing department, Alaska department, or other housing authority or public housing agency. beginning with Figure 43 which shows the total number of people. Kenai Peninsula Borough shows it has a Total In Group Quarters of 1,421 which is the second most number of people in group quarters of all the counties in the greater Kenai Peninsula Borough region.