Cost of Living in Kenai Peninsula Borough, Alaska

$1,163/mo

Median Monthly Rent

$297,500

Median Home Value

5% below state averageUnaffordable

At a Glance

Median Monthly Rent

$1,163/mo

5% below state average

Median Home Value

$297,500

6% above national

Rent-to-Income Ratio

29.0%

% of income spent on rent

Rent burden measured as median gross rent as a percentage of renter household income (Census ACS B25071)

Affordability Rating

Unaffordable

Rent over 50% of income

How Kenai Peninsula Borough Compares

Median monthly rent comparison

Kenai Peninsula Borough$1,163/mo

Alaska Average$1,221/mo

National Median$1,163/mo

Detailed Housing Stats

$1,163/mo

Median Gross Rent

$297,500

Median Home Value

$1,011/mo

Monthly Owner Cost

29.0%

Rent-to-Income Ratio

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.

Affordability Calculator

See how your income compares to housing costs in Kenai Peninsula Borough

Your Annual Household Income

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

Your rent-to-income ratio18.0%

Recommended max30.0%

Frequently Asked Questions

What is the cost of living in Kenai Peninsula Borough, Alaska?

Kenai Peninsula Borough, Alaska has a median monthly rent of $1,163/mo and a median home value of $297,500. The affordability rating is Unaffordable, with rent making up approximately 29.0% of median household income.

What is the median rent in Kenai Peninsula Borough?

The median gross rent in Kenai Peninsula Borough is $1,163/mo. This is 5% below state average for Alaska.

Is Kenai Peninsula Borough affordable?

Kenai Peninsula Borough is rated Unaffordable based on rent-to-income ratio of 29.0%. Spending over 50% of income on rent is generally considered unaffordable.

How does Kenai Peninsula Borough's rent compare to the state average?

Kenai Peninsula Borough's median rent of $1,163/mo is 5% below state average of $1,221/mo for Alaska.

What is the median home value in Kenai Peninsula Borough?

The median home value in Kenai Peninsula Borough, Alaska is $297,500. This is 6% above the national median home value of $281,900.