Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 7,653 people, 2,870 houses or apartments, and a median cost of homes of $331,815, Kenai real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Kenai, accounting for 63.64% of the city's housing units. Other types of housing that are prevalent in Kenai include duplexes, homes converted to apartments or other small apartment buildings ( 16.16%), large apartment complexes or high rise apartments ( 15.36%), and a few row houses and other attached homes ( 4.35%).
The most prevalent building size and type in Kenai are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 62.83% owning and 37.17% renting.
There is a lot of housing in Kenai built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Kenai built between 1940-1969 ( 20.97%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.33%).
Vacant housing appears to be an issue in Kenai. Fully 11.50% of the housing stock is classified as vacant. Left unchecked, vacant Kenai homes and apartments can be a drag on the real estate market, holding Kenai real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
Kenai's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Kenai during the period has been just 4.78%, which is lower than 80% of US communities.
Over the last year, Kenai appreciation rates have trailed the rest of the nation. In the last twelve months, Kenai's appreciation rate has been 4.23%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Kenai were at 9.08%, which equates to an annual appreciation rate of 41.56%.
Importantly, this makes Kenai one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.
Relative to Alaska, our data show that Kenai's latest annual appreciation rate is higher than 70% of the other cities and towns in Alaska.
$331,815
for Alaska
for nation
2,870
$1,848 / per month