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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Kenai, AK Real Estate Market

Source & Methodology

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.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Kenai, AK Housing Market Trends

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 Home Appreciation Rates

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.

Average Home Values

Median Home Value

$331,815

Kenai, AK Home Prices
> $1,324,000
$993,001 - $1,324,000
$662,001 - $993,000
$529,001 - $662,000
$397,001 - $529,000
$265,001 - $397,000
$132,001 - $265,000
$66,001 - $132,000
$0 - $66,000
0.0%
0.0%
0.9%
0.9%
4.4%
4.4%
5.6%
5.6%
16.5%
16.5%
45.9%
45.9%
23.8%
23.8%
1.0%
1.0%
1.9%
1.9%
0% 100.0%
% of Homes
Average

for Alaska

High

for nation

Number of Homes And Apartments:

2,870

Kenai Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,848 / per month

Homeownership Rate

Owners
Renters
62.8%
62.8%
37.2%
37.2%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
11.5%
11.5%
88.5%
88.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
17.3%
17.3%
61.7%
61.7%
21.0%
21.0%
0.0%
0.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
63.6%
63.6%
4.3%
4.3%
16.2%
16.2%
15.4%
15.4%
0.0%
0.0%
0.5%
0.5%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.5%
3.5%
12.3%
12.3%
22.4%
22.4%
45.4%
45.4%
13.3%
13.3%
3.1%
3.1%
0% 100.0%
% of Homes

Popular Neighborhoods in Kenai

Popular Communities Near Kenai, AK

Zip Codes in Kenai, AK