Kenai, AK
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Kenai, AK Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Kenai Housing Market Information

With 7,661 people, 3,041 houses or apartments, and a median cost of homes of $216,839, 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 65.17% of the city's housing units. Other types of housing that are prevalent in Kenai include large apartment complexes or high rise apartments ( 16.07%), duplexes, homes converted to apartments or other small apartment buildings ( 14.72%), and a few row houses and other attached homes ( 2.35%).

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 57.52% owning and 42.48% 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 ( 25.10%). A lesser amount of the housing stock also hails from between 2000 and later ( 7.18%).

Vacant housing appears to be an issue in Kenai. Fully 10.85% 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

In the last 10 years, Kenai has experienced some of the highest home appreciation rates of any community in the nation. Kenai real estate appreciated 18.92% over the last ten years, which is an average annual home appreciation rate of 1.75%, putting Kenai in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Kenai definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

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 1.64%, 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 -0.48%, which equates to an annual appreciation rate of -1.91%.

Relative to Alaska, our data show that Kenai's latest annual appreciation rate is higher than 60% of the other cities and towns in Alaska.

Average Home Values

 

Median Home Value:
$216,839

Kenai, AK HOME PRICES

Value Range
> $1,083,000 0.0
$813,001 - $1,083,000 0.0
$542,001 - $813,000 5.1
$433,001 - $542,000 3.2
$325,001 - $433,000 11.0
$216,001 - $325,000 30.2
$108,001 - $216,000 46.4
$54,001 - $108,000 3.4
$0 - $54,000 0.6

High for AK
High for Nation

Value Relative to Nation Value Relative to State
28.3370444157975 39.344262295082

Number Of Homes And Apartments:
3,041

Kenai Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
AK*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
67.57% 3.04% 5 8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,277 / per month

Homeownership Rate

Homeownership
Owners 57.52
Renters 42.48
Vacant 10.85

Housing Market Details

 

Age of Homes

AGE OF Kenai HOMES
2000 or Newer 7.2
1970 - 1999 67.7
1940 - 1969 25.1
1939 or Older 0.0

Types of Homes

TYPE OF Kenai HOMES
Single-Family 65.2
Townhomes 2.3
Small Apt. Buildings 14.7
Apt. Complexes 16.1
Mobile Homes 1.7
Other 0.0

Home Size

SIZE OF Kenai HOMES
No Bedroom 1.96
1 Bedroom 12.20
2 Bedrooms 28.79
3 Bedrooms 40.99
4 Bedrooms 11.87
5 or more bedrooms 4.19

Popular Neighborhoods in Kenai

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Zip Codes in Kenai, AK