Housing Market Report
Kenai Peninsula Borough, AK
Data through February 2026 · Updated monthly
Homes are selling quickly with few price cuts
Avg Home Value
$328,244
▲ 5.6% year-over-year
Days to Pending
55 days
Homes For Sale
266
Avg Rent/Month
$1,827
▲ 1.5% year-over-year
The Kenai Peninsula Borough, AK housing market is continuing to appreciate. The average home value is $328,244, up 5.6% year-over-year as of February 2026. Homes are spending a median of 55 days on the market before going pending. 0.1% of active listings have had a price cut.
Kenai Peninsula Borough leans toward a seller's market, with 0.2% of homes selling above list price and 0.6% selling below. There are currently 266 homes for sale in the county, with 37 new listings hitting the market each month. The median sale-to-list ratio is 98.0%, indicating buyers have negotiating leverage.
The average asking rent in Kenai Peninsula Borough is $1,827 per month, up 1.5% year-over-year. For investors, the gross rent multiplier on a median-priced home is approximately 15.0, indicating moderate cash flow potential.
For homebuyers, the estimated monthly mortgage payment on a median-priced home in Kenai Peninsula Borough with 10% down is $2,026. That is $200 more per month than the average rent, making renting the more affordable short-term option.
Bottom-tier homes (under the 33rd percentile) are currently valued at $187,120, making them the primary target range for investors looking at wholesale deals, fix-and-flip projects, or BRRRR strategies.
Free Home Value Estimate
What's your home worth in Kenai Peninsula Borough?
Get a free estimate based on recent sales and market data in your neighborhood. See how your home compares.
Free · Takes 30 seconds · Based on real sale data
Market Snapshot
Kenai Peninsula Borough Housing Market at a Glance
Key metrics for Kenai Peninsula Borough as of February 2026. Year-over-year changes show how the market has shifted in the last 12 months.
| Metric | Dec 2025 | Jan 2026 | Feb 2026 | 3-Mo Change |
|---|---|---|---|---|
| Avg Home Value | $325,230 | $326,513 | $328,244 | ▲ 0.9% |
| Single Family Value | $325,957 | $327,247 | $328,975 | ▲ 0.9% |
| Median List Price | $428,333 | $421,667 | $426,000 | ▼ 0.5% |
| Avg Rent/Month | $1,807 | $1,812 | $1,827 | ▲ 1.1% |
| Homes For Sale | 330 | 294 | 266 | ▼ 19.4% |
| New Listings | 40 | 38 | 37 | ▼ 7.5% |
| % Listings w/ Price Cut | 0.1% | 0.1% | 0.1% | ▼ 25.0% |
Home Values
Kenai Peninsula Borough Home Value Trend (2000–2026)
All-home median values including the 2008 housing crash, 2020 COVID surge, and 2022 rate shock. Switch between All Homes, Single Family, Bottom Tier, Top Tier, and Rent to compare trends.
Source: Zillow Research ZHVI / ZORI · Updated monthly
Market Breakdown
What Homes Cost in Kenai Peninsula Borough
Home values broken down by bedroom count, ZIP code neighborhood, and property type. 3-bedroom homes are valued at $339,531 in Kenai Peninsula Borough. 1-bedroom units start at $190,652.
| Bedroom Count | Avg Value | Last 30 Days | Last Year |
|---|---|---|---|
| 1 Bedroom | $190,652 | ▲ 0.5% | ▲ 5.5% |
| 2 Bedrooms | $288,825 | ▲ 0.6% | ▲ 8.5% |
| 3 Bedrooms | $339,531 | ▲ 0.5% | ▲ 5.3% |
| 4 Bedrooms | $462,615 | ▲ 0.4% | ▲ 4.0% |
The table above reflects average home values and rent in Kenai Peninsula Borough, broken down by bedroom count, neighborhoods, and property types. Data sourced from Zillow Research.
Market Tiers
Buyer vs. Investor Segments
Bottom-tier homes (under 33rd percentile) are the primary target for wholesale investors using the 70% rule. In Kenai Peninsula Borough, bottom-tier homes are valued at $187,120.
Bottom Tier
Under 33rd percentile
$187,120
▲ 3.3% YoY
Wholesale / investor range
Mid Tier
33rd-67th percentile
$328,244
▲ 5.6% YoY
Typical buyer range
Top Tier
Over 67th percentile
$505,625
Luxury / high-end
Market Activity
Supply, Demand and Pricing Power
How quickly homes are selling, how many are available, and whether sellers or buyers have the upper hand in Kenai Peninsula Borough.
Homes For Sale
266
37 new/month
% Sold Below List
0.6%
0.2% sold above
% Listings w/ Price Cut
0.1%
Median Days to Close
42 days
55 days to pending
Median List Price
$426,000
Median Sale Price
$424,900
98.0% sale-to-list
Affordability
Monthly Cost to Own in Kenai Peninsula Borough
Estimated mortgage payments on the median-priced home at current rates. Compare against the average rent of $1,827/month to evaluate buy vs. rent.
| Down Payment | Est. Monthly Payment |
|---|---|
| 5% down | $2,599/mo |
| 10% down | $2,486/mo |
| 20% down | $2,042/mo |
Avg rent in this market: $1,827/month · Mortgage estimates based on Zillow data at prevailing rates
Rental Market
Rent Trends in Kenai Peninsula Borough
Zillow Observed Rent Index (ZORI) tracks typical asking rent, controlling for quality mix. Rent in Kenai Peninsula Borough is up 1.5% compared to last year. At current prices, the price-to-rent ratio is 15.0x annual rent.
Avg Asking Rent
$1,827
Year-over-Year
+1.5%
▲ 1.5%
Month-over-Month
+0.8%
▲ 0.8%
Price-to-Rent Ratio
15.0x
Rent trend (ZORI)
Source: Zillow Research ZHVI / ZORI · Updated monthly
Nearby Markets
Other Counties in AK
Explore home values and trends in other AK counties. Compare markets to find investment opportunities.
Anchorage Borough
$416,185
▲ 3%Last year
Rent: $1,696/mo
Fairbanks North Star Borough
$294,503
▼ 1%Last year
Rent: $1,861/mo
Haines Borough
$326,158
▲ 4%Last year
Juneau Borough
$459,813
▲ 4%Last year
Ketchikan Gateway Borough
$382,916
▲ 9%Last year
Kodiak Island Borough
$393,321
▲ 6%Last year
Matanuska Susitna Borough
$390,377
▲ 7%Last year
Rent: $1,637/mo
North Slope Borough
$297,067
▲ 5%Last year
Frequently Asked Questions
Ready to see what your home is actually worth?
Get comps from recent sales near you, backed by real transaction data. Free, instant, no obligation.
Data Sources and Methodology
Market data on this page comes from the Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI), updated monthly by Zillow Research. ZHVI measures the typical home value for a given region based on Zillow's proprietary automated valuation model, smoothed and seasonally adjusted to remove noise. ZORI measures the typical observed market-rate rent across the region, controlling for quality mix changes.
Sale price, inventory, days-on-market, and sale-to-list metrics are sourced from Zillow Research public data releases. All data is refreshed on the 17th of each month. This report was last updated February 2026.
Explore More
Nearby Counties
Tools for Kenai Peninsula Borough
Investing in Kenai Peninsula Borough?
Run your ARV and MAO instantly with live market data