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City · 7,641 residents · Kenai Peninsula Borough, Alaska

Kenai , Alaska

In Kenai, a typical home is worth $283,900 and typical rent is $1,138 a month. Compared with all of Kenai Peninsula Borough, the typical home value is 12% lower, typical household income is 8% higher, and the share of households that own their home is 7 points lower.

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  • Typical home value

    $283,900

    12% below the borough

    20% below Alaska

    • Kenai
    • Kenai Peninsula
    • Alaska

  • Typical rent

    $1,138a month

    4% below the borough

    20% below Alaska

    • Kenai
    • Kenai Peninsula
    • Alaska

  • Typical household income

    $87,083a year

    8% above the borough

    6% below Alaska

    • Kenai
    • Kenai Peninsula
    • Alaska

  • Households that own their home

    70%

    7 points below the borough

    4 points above Alaska

    • Kenai
    • Kenai Peninsula
    • Alaska

Source: U.S. Census Bureau, Average 2020–2024

Market now, with Zillow data

Zillow data
Typical home value
$328,260
6.1% more than 12 months ago
Typical rent
$1,480 a month

From Zillow (ZHVI/ZORI), September 2026. The Census figures above are 5-year averages (2020–2024).

Kenai is in Kenai Peninsula Borough. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Kenai Peninsula Borough. See the county

Data updated: October 1, 2026 11 official sources

Only here

What sets Kenai apart

What this place has that others do not, from public data, most unusual first.

  1. Kenai has the 2nd lowest typical home value of the 21 cities in Alaska with more than 5,000 people ($283,900).

  2. 70% of households in Kenai own their home, against 77% in Kenai Peninsula Borough.

Sources: U.S. Census Bureau (Average 2020–2024).

The homes here

Housing in Kenai

What homes there are in Kenai, what they cost, how that changed and how people live, from Census figures (2020–2024).

What homes there are

U.S. Census Bureau, ACS 5-year, 2020–2024

Kind of home

In Kenai, 7 in 10 homes are single-family detached houses; in Kenai Peninsula Borough, 8.

Year built

The typical home in Kenai was built in 1983, 7 years before the typical one in Kenai Peninsula Borough.

All homes, occupied or empty. A figure the Census cannot measure precisely enough here is not shown.

Census tables: B25024, B25034, B25035, B25041

What it costs here

U.S. Census Bureau, ACS 5-year, 2020–2024

Value of owner-occupied homes
Monthly rent with utilities

With a mortgage

$1,733 a month

Kenai Peninsula Borough: $1,904 a month

Without a mortgage

$545 a month

Kenai Peninsula Borough: $531 a month

Owners with a mortgage

67%

Kenai Peninsula Borough: 52%

Owning costs less in Kenai: with a mortgage, the typical cost is $1,733 a month; in Kenai Peninsula Borough, $1,904. Without one, $545.

Value: what owners think their home is worth. Rent: rent plus utilities, for homes of every size. The FHA limit is the most an FHA loan (Federal Housing Administration) lends for a one-unit home; the fair market rent (FMR) is the one HUD uses for housing vouchers.

Census tables: B25075, B25063, B25088, B25081

How it changed

U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024

Change since 2015–2019

Homes in Kenai gained value more slowly than in Kenai Peninsula Borough: 24% since 2015–2019, against 33%.

Much as in Kenai Peninsula Borough, the typical rent in Kenai rose 20% since 2015–2019.

Income in Kenai grew faster than housing: it rose 42%, while home values changed +24% and rent +20%.

Change between two 5-year periods that do not overlap, in each period's dollars, not adjusted for inflation.

Census tables: B25077, B25064, B19013

How people live

U.S. Census Bureau, ACS 5-year, 2020–2024

MeasureKenaiKenai Peninsula BoroughAlaskaUnited States
Rental vacancy Unreliable estimate6.9%7.0%5.5%
Homeowner vacancy Unreliable estimate0.8%0.9%0.9%
More than one person per room Unreliable estimate4.0%5.7%3.4%
People per household 2.462.402.612.53
Drive alone 70%66%65%69%
Carpool 15%12%12%9%
Public transit Unreliable estimateUnreliable estimate1%3%
Walk or bike Unreliable estimate6%8%3%
Work from home Unreliable estimate11%10%15%
Other means Unreliable estimate5%4%2%
Typical commute 10 to 19 minutes10 to 19 minutes10 to 19 minutes20 to 29 minutes

A household in Kenai has 2.46 people on average, about the same as in Kenai Peninsula Borough (2.40).

The car rules in Kenai: 70% of workers drive to work alone, and the typical trip takes 10 to 19 minutes.

Vacancy: empty homes offered for rent or for sale. Rooms: every room in the home, not only bedrooms. Commute: the minute range of the typical worker.

Census tables: B25004, B25003, B25014, B25010, B08301, B08303

Do the math

What would you pay each month for a home in Kenai?

A typical home is tight for the typical income

We start with a typical home in Kenai, worth $283,900, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 31% of the typical household income in Kenai, which is $87,083 a year. For that payment to be 28% of income, a household would need to earn about $97,162 a year.

The calculator's FHA and conventional loan limits are those of all of Kenai Peninsula Borough.

Your numbers

Local data
$

Starts at the typical home value in Kenai. Change it to the price you have in mind.

Loan type
Your credit score

Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.

Down payment
%

That is $9,937 (3.5% of the price). The usual minimum for this loan is 3.5%.

This week's average ± a quarter or half point.

Term

National average as of November 5, 2026 (Freddie Mac); your rate may be different.

Adjust advanced details

Estimated monthly payment

Local data

$2,267

at 7.18% · 30 years

Loan amount
$278,757
Total interest
$401,066
Paid off in
November 2056

Includes $4,794 FHA upfront mortgage insurance premium.

Does it fit the income?

  • Comfortable

    up to $2,032 a month

  • Tight

    $2,032 to $2,612 a month

    Your payment · 31%

  • Hard

    more than $2,612 a month

Compared with the typical household income in Kenai ($87,083 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.

Show the result as
per month$2,267
Principal & interest$1,888
Property tax$135
Home insurance$118
FHA mortgage insurance (MIP)$126

You need at least $9,937 for the down payment, plus closing costs.

Next step

This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.

The city and its county

Kenai and Kenai Peninsula Borough

Kenai is in Kenai Peninsula Borough, Alaska. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).

Kenai's own numbers

Typical home value
$283,900
Typical monthly rent
$1,138
Typical yearly household income
$87,083
Households that own their home
70%
Effective property tax rate
0.57%

U.S. Census Bureau, American Community Survey (average 2020–2024).

Numbers for all of Kenai Peninsula Borough

FHA limit, one-unit home
$541,287
Conventional limit, one unit
$1,249,125
HUD fair market rent, 2 bedrooms
$1,390
Price change over 5 years (FHFA)
+53%
Homes in a high flood-risk zone
0.9%

HUD, FHFA and FEMA don't publish these numbers by city.

Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Kenai Peninsula Borough.

Everything about Kenai Peninsula Borough

Buying

Buying a home in Kenai

A typical home in Kenai is worth $283,900: 12% below the borough and 20% below Alaska. With the typical household income in Kenai ($87,083 a year), a typical home costs 3.3 times what the household earns in a year.

Years of income to pay for a typical home

The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.

  • Kenai 3.3 years
  • Kenai Peninsula 4.0 years
  • Alaska 3.8 years
  • United States 4.1 years
Source: U.S. Census Bureau, Average 2020–2024

How prices have changed in Kenai Peninsula Borough

According to FHFA’s house price index, home prices in Kenai Peninsula Borough rose 72% in the 10 years through 2025.

FHFA does not publish this index by city: these are the numbers for all of Kenai Peninsula Borough.

Period Borough Alaska U.S.
Last year (2025) +4.6% +4.1% +2.9%
5 years (2020–2025) +53% +39% +47%
10 years (2015–2025) +72% +52% +85%

The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data

Kenai next to Kenai Peninsula Borough, Alaska and the U.S.

Three numbers side by side. “Typical” means the median: half are above it and half below.

Typical home value
  • Kenai $283,900
  • Kenai Peninsula $323,200
  • Alaska $352,900
  • United States $332,700
Typical monthly rent
  • Kenai $1,138
  • Kenai Peninsula $1,184
  • Alaska $1,419
  • United States $1,413
Typical yearly household income
  • Kenai $87,083
  • Kenai Peninsula $80,538
  • Alaska $92,788
  • United States $80,734
See the full table
Kenai next to Kenai Peninsula Borough and Alaska
Measure Kenai Kenai Peninsula Borough Alaska U.S.
Typical home value $283,900 $323,200 $352,900 $332,700
Typical monthly rent $1,138 $1,184 $1,419 $1,413
Typical yearly household income $87,083 $80,538 $92,788 $80,734
Households that own their home 70% 77% 67% 65%
Typical yearly property tax $1,631 $2,049 $3,901 $3,119
Effective property tax rate 0.57% 0.63% 1.11% 0.94%
Renters with high rent for their income 32% 49% 45% 51%

“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Kenai Peninsula Borough. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.

Four ways to pay for a typical home in Kenai

For a typical $283,900 home in Kenai, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Kenai's typical property tax, an example home insurance and mortgage insurance when it applies.

  • FHA, 3.5% down $2,267a month

    Least cash to close
    Down payment
    $9,937
    Cash to close
    $18,454
    Rate
    7.18%
    Mortgage insurance
    FHA MIP · $126

  • Conventional, 5% down $2,215a month

    Down payment
    $14,195
    Cash to close
    $22,712
    Rate
    7.18%
    Mortgage insurance
    PMI · $135

  • Conventional, 20% down, no PMI $1,792a month

    Down payment
    $56,780
    Cash to close
    $65,297
    Rate
    7.18%
    Mortgage insurance
    None

  • ITIN, 15% down (example) $2,054a month

    Down payment
    $42,585
    Cash to close
    $51,102
    Rate
    8.18%
    Mortgage insurance
    None

The option that asks for the least cash to close is FHA, 3.5% down.

  • Cash to close = down payment plus 3% of the price in closing costs (example).
  • Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
  • The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.

How much house can I afford? Estimate closing costs

Taxes and floods

Two costs that change from place to place

Property tax and flood insurance raise or lower what you pay each month. Here are the numbers for Kenai and for Kenai Peninsula Borough.

Property tax

Effective rate in Kenai

0.57%of the home’s value each year

$1,631 a year for the typical owner in Kenai.

  • Kenai 0.57%
  • Kenai Peninsula 0.63%
  • Alaska 1.11%

What Alaska publishes Optional municipal residential exemption (Alaska State Legislature (Alaska Statutes 2025))

Exemptions and deadlines in Alaska

Flood risk in Kenai Peninsula Borough

FEMA does not publish these numbers by city: they are for all of Kenai Peninsula Borough.

Homes in the high-risk zone
0.9%
317
Of those, with NFIP insurance
61%
Borough Alaska U.S.
Homes in the high-risk zone 0.9% 1.2% 3.5%
Of those, with NFIP insurance 61% 49% 48%

Most homeowners insurance policies do not cover flood damage.

Look up your address on FEMA’s map

Renting

Renting in Kenai

Typical rent in Kenai is $1,138 a month: 4% below the borough. In Kenai, 32% of renter households pay 30% or more of their income in rent.

HUD publishes a fair market rent for all of Kenai Peninsula Borough, by unit size. To pay the 2-bedroom one ($1,390 a month) without spending more than 30% of your income, you would need to earn $26.73 an hour working full time.

HUD fair market rent for all of Kenai Peninsula Borough

What you need to earn to pay it without spending more than 30% of income, working full time.

Size Fair rent a month Hourly wage Yearly income
Studio $1,056 $20.31 $42,240
1 bedroom $1,063 $20.44 $42,520
2 bedrooms $1,390 $26.73 $55,600
3 bedrooms $1,925 $37.02 $77,000
4 bedrooms $2,323 $44.67 $92,920

Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027

By ZIP code

Fair market rent by ZIP code in Kenai

HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Kenai is in ZIP code 99611.

For 2 bedrooms it is $1,320: $70 less than the fair market rent for Kenai Peninsula Borough ($1,390).

  • 99611 $1,320$1,830

1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Kenai when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD) Fiscal year 2027 Small Area Fair Market Rents (HUD) Source: Census Bureau ZCTA-to-place relationship file Data from 2020 data Census Bureau ZCTA-to-place relationship file

Is your rent high for your ZIP?

Low-income apartments

Low-income apartments in Kenai

HUD lists 2 buildings with rents for lower incomes in Kenai. These are the largest.

  • Aurora Vista 104 N Gill St, Kenai 99611 48 low-income homes · 1 bd: 25 · 2 bd: 23 · In service since 2007
  • Woodridge Apartments 903 Cook Ave, Kenai 99611 24 low-income homes · For older adults (907) 283-4755

See all 15 buildings in Kenai Peninsula Borough Source: HUD, Retrieved November 6, 2026

Free help

Help to buy or rent in Kenai

You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.

There is 1 HUD-approved agency with an office in Kenai Peninsula Borough; none says it serves in Spanish.

An older man and his daughter go over papers with a professional.

HUD counseling is free or low-cost

Assistance programs in Kenai

No down payment, repair or rent-help program on our list is for Kenai or Kenai Peninsula Borough. The ones below are statewide in Alaska: they work in Kenai the same as in the rest of the state.

Which programs do I qualify for? All programs in Alaska

  • Closing Cost Assistance Program (CCAP)

    Statewide in Alaska

    Alaska state authority help of 3% or 4% of the loan, paid at closing and not repaid, for the down payment, closing costs or to reduce the principal; with 30-year fixed-rate FHA, VA or USDA mortgages. Offered by Alaska Housing Finance Corporation (AHFC).

    Grant

    See the program Official page

Housing counselors near Kenai

The HUD-approved agencies closest to the center of Kenai, in a straight line, nearest first. If one says it serves in Spanish, its card says so.

  • Rural Alaska Community Action Program

    130 E Redoubt Ave, Soldotna · 7 miles away

    • Budget and credit workshops
    • Home improvement and repairs
    • and 1 more
    (907) 260-3451

Every agency in Kenai Peninsula Borough All counseling agencies in Alaska

Help in Spanish near Kenai

None of the 1 agencies on this list say they serve in Spanish.

Ask for service in Spanish

When you call, say “Spanish, please” or ask if someone speaks Spanish. If not, ask whether they offer an interpreter.

Housing authorities of Kenai

HUD lists no housing authority with an office in Kenai Peninsula Borough. One in a neighboring county or the state’s may serve the area.

All housing agencies in Alaska Source: HUD

Cities

Other cities in Kenai Peninsula Borough

These cities are also in Kenai Peninsula Borough. They share its loan limits and fair market rents, but home values and rent change from one to the next.

Everything about Kenai Peninsula Borough Housing in Alaska

Nearby cities

The cities closest to Kenai, with the typical home value.

Neighboring counties

If Kenai Peninsula Borough is out of reach, look next door. Each number is that county's own.

Keep going

Guides for your next step

Short explanations, in plain language and with official sources, for buying or renting in Kenai.

All guides
A family walks a boardwalk trail in the forest; one of them uses a wheelchair.

Questions

Housing questions about Kenai

Short answers with the numbers for Kenai and all of Kenai Peninsula Borough. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.

How much does a typical home cost in Kenai?

The typical home value in Kenai is $283,900, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Kenai Peninsula Borough it is $323,200.

How much does it cost to rent in Kenai?

Typical rent in Kenai is $1,138 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Kenai Peninsula Borough is $1,390.

What is the FHA loan limit in Kenai?

Kenai uses the FHA limit for all of Kenai Peninsula Borough (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.

How much property tax do owners pay in Kenai?

The typical homeowner in Kenai pays $1,631 a year, according to the U.S. Census Bureau. That is 0.57% of the home’s value; in Kenai Peninsula Borough, the rate is 0.63%.

Where can I find free help to buy or rent in Kenai?

There is 1 HUD-approved counseling agency with an office in Kenai Peninsula Borough. They can help you get ready to buy, with your credit, or with rent.

Sources: American Community Survey (ACS) 5-year estimates (Average 2020–2024); FHA mortgage limits (HUD) (2026 data); Conforming loan limits (FHFA) (2026 data); Fair Market Rents (HUD) (Fiscal year 2027); Small Area Fair Market Rents (HUD) (Fiscal year 2027); Census Bureau ZCTA-to-place relationship file (2020 data); HUD-approved housing counseling agencies (Retrieved November 6, 2026); Public Housing Agencies (HUD) (Retrieved November 6, 2026); Freddie Mac Primary Mortgage Market Survey (PMMS) (As of November 5, 2026); FHFA House Price Index (HPI) (2025 data); Homes with flood insurance (NFIP, FEMA) (As of August 3, 2026).