Cost of Living in Kenai Peninsula Borough, Alaska
At a Glance
Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)
How Kenai Peninsula Borough Compares
Median monthly rent comparison
Detailed Housing Stats
National Ranking
Affordability Rank
Kenai Peninsula Borough ranks #1,351 of 3,144 counties for affordability (top 43%)
Data Story
About Cost of Living in Kenai Peninsula Borough, Alaska
Kenai Peninsula balances income and housing well
At 18.0%, Kenai Peninsula's rent-to-income ratio sits just below the national comfort zone, supported by a median household income of $77,722 that slightly exceeds the nation's $74,755. The $1,163 monthly rent reflects Alaska's typical pricing while remaining manageable relative to local earnings.
Right at Alaska's affordability midline
Kenai Peninsula's 18.0% rent-to-income ratio sits just below Alaska's 18.6% state average, positioning it as a fairly typical Alaskan housing market. The peninsula offers middle-ground pricing and incomes, with rents moderate by statewide standards.
Balanced option among Alaska communities
Kenai Peninsula's $1,163 rent falls between Dillingham ($1,085) and Fairbanks ($1,424), offering middle-ground pricing for South-Central Alaska. It's notably cheaper than extreme cases like Kodiak Island ($1,669) or Juneau ($1,462), yet pricier than the most affordable Haines ($914).
Renters spend 18.0%, owners $1,011/month
Kenai Peninsula renters allocate 18.0% of their $77,722 income to the $1,163 median rent, a balanced housing-to-income ratio statewide. Owners face a moderate $1,011 monthly burden, making homeownership accessible relative to other high-cost Alaska regions.
Kenai Peninsula offers stability and moderation
Choose Kenai Peninsula for a stable Alaska move without extreme housing cost surprises; the 18.0% rent ratio and $77,722 income are reliably middle-ground statewide. Compared to Kodiak's 23.9% burden or Haines' 15.1%, the peninsula delivers straightforward, moderate affordability.
Cost of Living Advisory: Kenai Peninsula Borough
Affordability Verdict
Housing in Kenai Peninsula Borough is affordable. The median rent is $1,163/month against a median household income of $77,722, putting rent at 18.0% of income.
Rent vs. Own
The median rent in Kenai Peninsula Borough is $1,163/month, while owner costs run $1,011/month. Owning saves approximately $152/month.
Income Needed
To afford the median rent without exceeding 30% of gross income, a household needs to earn approximately $46,520/year. For owner costs at the 28% rule, the required income is roughly $43,329/year. With a median household income of $77,722, most households can comfortably afford rent here. Notably, 29.0% of renter households in Kenai Peninsula Borough are cost-burdened, spending more than 30% of income on housing.
Regional Context
Within Alaska, Kenai Peninsula Borough is less affordable than Skagway Municipality by roughly 5% ($1,163/mo vs $1,228/mo).
Affordability Calculator
See how your income compares to housing costs in Kenai Peninsula Borough
Rent Burden
18.0%
of gross income
Max Housing (28% Rule)
$1,814
per month
Owner Cost Burden
15.6%
of gross income
The median home in Kenai Peninsula Borough may be a stretch
Median home value is $297,500. Estimated monthly cost: $2,375 vs. your max of $1,814.
Rent Affordability Guide
Income Needed Calculator
See how much you need to earn to comfortably afford housing
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Based on the 30% rule for rent and 28% rule for housing costs (mortgage + owner costs). Mortgage estimate assumes 20% down, 7.2% interest, 30-year fixed.
Frequently Asked Questions
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See Today's RatesData: U.S. Census Bureau, American Community Survey (ACS) 5-Year Estimates (2019-2023) — Informational only. Not financial or legal advice.
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