1st Advantage MortgageAbout 77% of Kenai Peninsula Borough homes are owner-occupied, and the median household income is $80,538. A loan makes sense only if its total cost beats your alternatives and the payment fits your budget. Check the lender's Alaska license first.
On this page
- Getting oriented in Kenai Peninsula Borough
- Income in Kenai Peninsula Borough compared with Alaska
- Kenai Peninsula Borough housing compared with Alaska
- Employment and commuting in Kenai Peninsula Borough
- Kenai Peninsula Borough next to its neighbors
- Cities, towns and CDPs in Kenai Peninsula Borough
- Debt-to-income at Kenai Peninsula Borough's medians
- More Kenai Peninsula Borough figures
- What the numbers mean for Kenai Peninsula Borough borrowers
- Lender oversight for Kenai Peninsula Borough
- Steps before you apply in Kenai Peninsula Borough
- Nearby and statewide guides
- Frequently asked questions
Getting oriented in Kenai Peninsula Borough
Roughly 60,413 residents live in Kenai Peninsula Borough, Alaska, 4th by population among the state's 30 counties and county equivalents. Spread over 16,018 square miles, that works out to roughly 3.8 residents per square mile. Under the July 2023 OMB definitions, Kenai Peninsula Borough is not part of any metropolitan area. Kalifornsky is the biggest of its 37 Census places, at roughly 8,663 people (14% of the county total).
Income in Kenai Peninsula Borough compared with Alaska
The median household income in Kenai Peninsula Borough is $80,538; statewide it is $92,788, so Kenai Peninsula Borough runs 13% below Alaska as a whole. That places it 17th among Alaska's 30 county-level areas.
| Band | Kenai Peninsula Borough | Compared with Alaska |
|---|---|---|
| Under $35,000 | 20.3% | +4.1 pts |
| $35,000 to $99,999 | 39.4% | +2.1 pts |
| $100,000 to $199,999 | 28.6% | -3.3 pts |
| $200,000 or more | 11.7% | -2.9 pts |
Some 20% of households here live on less than $35,000 a year; 40% have six-figure incomes. The poverty rate is 11.8%, 2 points higher than the state's 10.1%. Income inequality, measured by the Gini index, comes to 0.451 here. For a borrower in Kenai Peninsula Borough, the county median is only context: a lender looks at the income you can document, so pay stubs, benefit letters or tax returns matter more than any average.
Kenai Peninsula Borough housing compared with Alaska
A typical Kenai Peninsula Borough rental runs $1,184 a month including utilities, which is 17% below Alaska. 49% of renting households spend 30% or more of income on rent, and 21% spend half or more. The median owner-occupied home is valued at $323,200, about 4.0 times the median household income. Owners occupy 77% of homes. Half the housing stock was built before 1990.
| Cost | Kenai Peninsula Borough | Alaska figure | Median county, U.S. |
|---|---|---|---|
| Median gross rent | $1,184/mo | $1,419/mo | $877/mo |
| Median home value | $323,200 | $352,900 | $185,300 |
| Owners | 77% | 67% | 75% |
| Rent-burdened renters | 49% | 45% | 45% |
| Burdened owners | 32% | 29% | n/a |
| Vacant units | 26% | 18% | n/a |
Because most Kenai Peninsula Borough households own, home repairs are a frequent reason to borrow. An unsecured personal loan leaves the house out of the deal, while a HELOC uses it as collateral.
Employment and commuting in Kenai Peninsula Borough
Education and health care employs 25% of working residents, the largest share; construction is next with 11%. Agriculture, forestry and mining stands out: 8% of workers here, versus 5% statewide. Averaged over the five survey years, 7.0% of the labor force was out of work and looking. 9% of commuters travel 45 minutes or more each way, and 11% work from home.
| Where residents work | Kenai Peninsula Borough | Difference from Alaska |
|---|---|---|
| Education and health care | 25.1% | +0.6 pts |
| Construction | 10.8% | +3.6 pts |
| Public administration | 10.4% | -1.6 pts |
| Retail trade | 9.4% | -0.5 pts |
| Agriculture, forestry and mining | 8.5% | +3.8 pts |
| Arts, lodging and food service | 8.2% | -0.1 pts |
Industry shapes paperwork. Salaried and public jobs are easy to verify, while hourly, tipped, commission or contract earners in Kenai Peninsula Borough should have bank statements and tax returns ready.
Kenai Peninsula Borough next to its neighbors
Six nearby counties, 117 to 213 miles away by the straight-line distance between their centers. 5 of the six report a higher median household income than Kenai Peninsula Borough; Anchorage Municipality is highest at $103,284 and Lake and Peninsula Borough lowest at $65,625.
| County | Miles | Median household income | Median rent | Homeownership |
|---|---|---|---|---|
| Kenai Peninsula Borough | - | $80,538 | $1,184/mo | 77% |
| Anchorage Municipality, AK | 117 mi | $103,284 | $1,489/mo | 64% |
| Matanuska-Susitna Borough, AK | 161 mi | $94,031 | $1,299/mo | 77% |
| Kodiak Island Borough, AK | 192 mi | $86,250 | $1,765/mo | 61% |
| Bristol Bay Borough, AK | 199 mi | $95,625 | $1,317/mo | 54% |
| Chugach Census Area, AK | 209 mi | $90,509 | $1,369/mo | 64% |
| Lake and Peninsula Borough, AK | 213 mi | $65,625 | $936/mo | 65% |
Cities, towns and CDPs in Kenai Peninsula Borough
The table lists the 14 largest of 37 Census places in Kenai Peninsula Borough, by population. Together all 37 hold about 59,915 people, so roughly 1% of residents live outside any named place. Incomes vary by place: $102,415 at the median in Sterling, $54,464 in Happy Valley. Rent is cheapest in Salamatof ($775) and steepest in Kalifornsky ($1,394). No Kenai Peninsula Borough place has a separate guide yet; this county page serves all 37.
| Place in county | Status | Population (ACS) | Median HH income | Monthly rent | Distance from center |
|---|---|---|---|---|---|
| Kalifornsky | CDP | 8,663 | $93,508 | $1,394 | 38 mi |
| Kenai | city | 7,641 | $87,083 | $1,138 | 40 mi |
| Sterling | CDP | 6,323 | $102,415 | $1,248 | 53 mi |
| Homer | city | 5,877 | $74,449 | $1,238 | 57 mi |
| Nikiski | CDP | 4,773 | $65,863 | $996 | 45 mi |
| Soldotna | city | 4,485 | $56,280 | $1,020 | 44 mi |
| Seward | city | 2,794 | $85,481 | $1,132 | 102 mi |
| Fritz Creek | CDP | 2,383 | $89,531 | $1,125 | 56 mi |
| Anchor Point | CDP | 2,243 | $63,000 | $1,120 | 48 mi |
| Ridgeway | CDP | 1,997 | $90,391 | n/a | 45 mi |
| Bear Creek | CDP | 1,732 | $95,774 | $1,363 | 102 mi |
| Cohoe | CDP | 1,598 | $63,500 | n/a | 36 mi |
| Diamond Ridge | CDP | 1,329 | $87,500 | $1,273 | 53 mi |
| Salamatof | CDP | 1,149 | $66,500 | $775 | 38 mi |
Debt-to-income at Kenai Peninsula Borough's medians
How much room does a median Kenai Peninsula Borough budget have? Take median income, subtract median rent, and check what is left under a few common debt-to-income limits.
- $80,538 a year is $6,712 of gross monthly income
- Housing at the median rent of $1,184 uses 18%
- With a 36% ceiling, about $1,232 remains for car, card, student and any new loan payments
- At 43%, room after rent is $1,702 a month
Car, student loan and card payments come out of that room first. Try your own numbers in the calculator.
More Kenai Peninsula Borough figures
Degree holders: 30% of adults over 25. The uninsured rate is 11.5%, against 11.0% for Alaska.
| Residents | Kenai Peninsula Borough | Alaska | Middle U.S. county |
|---|---|---|---|
| Median age | 41.4 | 35.8 | 41.5 |
| Bachelor's or higher | 29.8% | 31.7% | 22.2% |
| No high school diploma | 5.3% | 6.4% | n/a |
| No health insurance | 11.5% | 11.0% | 7.8% |
| No vehicle | 4.9% | 9.0% | 5.4% |
| Work from home | 10.5% | 9.7% | 8.7% |
| Poverty rate | 11.8% | 10.1% | 13.2% |
| Unemployment (ACS) | 7.0% | 5.9% | 4.4% |
| Minutes to work | Kenai Peninsula Borough workers |
|---|---|
| Under 15 min | 45.5% |
| 15 to 29 min | 33.8% |
| 30 to 44 min | 11.5% |
| 45 to 59 min | 4.4% |
| 60+ min | 4.9% |
What the numbers mean for Kenai Peninsula Borough borrowers
Where the Kenai Peninsula Borough numbers stand out, and why it matters for a loan:
- Uninsured care. 11% lack coverage here; nonprofit hospitals must publish an assistance policy, so ask for it first (guide).
- Higher earners. 40% of households clear $100,000; shop at least three lenders and pick the shortest term.
- Renters under pressure. When 49% pay 30% or more for rent, the smallest loan that solves the problem is the right size.
Lender oversight for Kenai Peninsula Borough
The Alaska Division of Banking and Securities is the place to verify any lender's Alaska license. A CFPB complaint gets forwarded to the company for a response. Statewide data and rules: Alaska guide.
Steps before you apply in Kenai Peninsula Borough
Before you apply, wherever you live in Kenai Peninsula Borough:
- Know the exact dollar figure you need before talking to a lender.
- Collect three written offers and compare APR and total repaid.
- Verify the Alaska license before giving out your Social Security number.
- Ask about early-payoff penalties.
Nearby and statewide guides
For statewide rules and data, see the Alaska guide.
Frequently asked questions
What does a typical Kenai Peninsula Borough household make?
About $80,538 a year at the median (ACS 2020-24), 13% below the Alaska median.
How much is rent in Kenai Peninsula Borough?
Median gross rent, utilities included, is $1,184 a month; 49% of renters spend 30% or more of income on it.
Should Kenai Peninsula Borough homeowners use home equity instead?
Maybe, but weigh the risk: 77% of Kenai Peninsula Borough homes are owner-occupied, and a home-equity loan or line is secured by the house while a personal loan usually is not.
What are the biggest places in Kenai Peninsula Borough?
By population: Kalifornsky, Kenai, Sterling, Homer, Nikiski. The county has 37 Census places in all.
Can Kenai Peninsula Borough residents use the questionnaire?
Yes. It asks the same questions in every Alaska county, lists every requirement up front and does not affect your credit score.