Kenai Peninsula Borough Real Estate and Livability Trends
Kenai Peninsula Borough's housing market has seen median home values rise from $219,100 in 2015 to $280,900 in 2022, slightly trailing Alaska's statewide growth but outpacing the national trend. Real estate taxes per tax return doubled from $2,684.82 in 2012 to $5,020.00 in 2021, hinting at rising property-related financial responsibilities. Principal residences consistently outnumber investment... Read more
Kenai Peninsula Borough Market Trends
Kenai Peninsula Borough's housing market has seen median home values jump from $219,100 in 2015 to $280,900 in 2022, slightly trailing Alaska's statewide growth but outpacing the national trend. Residential energy tax credits spiked dramatically, peaking at $2,970.00 in 2018, suggesting a strong emphasis on energy efficiency incentives. Real estate taxes per tax return doubled from $2,684.82 in... Read more
Median Value of Occupied Housing Units in Kenai Peninsula Borough, Alaska Over the Last 8 Years
Kenai Peninsula Borough's housing market has seen a significant rise in the median home values over the past eight years, with an increase from $219,100 in 2015 to $280,900 in 2022. This growth rate has somewhat mirrored Alaska's overall trend, where median values rose from $250,000 to $318,000 in the same period. Interestingly, Kenai Peninsula's values remained below the state's median but consistently higher than the national trend, which saw a rise from $125,500 to $179,400. For investors and homebuyers, this disparity indicates potential opportunities given the unique positioning of Kenai Peninsula amidst state and national growth patterns.
Residential Energy Tax Credit Per Tax Return in Kenai Peninsula Borough, AK Over the Last 9 Years
Kenai Peninsula Borough in Alaska has seen a significant increase in residential energy tax credits per tax return over the past nine years. Starting at $351.43 in 2013, the average credit ballooned to a peak of $2,970.00 in 2018 before stabilizing around $1,891.11 by 2021. This sharp rise, particularly noticeable in 2017 and 2018, highlights a robust commitment to energy efficiency and could signal beneficial tax incentives for potential homeowners and investors in the borough.
Average Real Estate Taxes Per Tax Return in Kenai Peninsula Borough, AK Over the Last 10 Years
Over the past decade, real estate taxes per tax return in Kenai Peninsula Borough, Alaska, have experienced a noticeable increase. Starting at $2,684.82 in 2012, they gradually climbed to $5,020.00 by 2021. This trend suggests a growing financial responsibility for property owners, potentially signaling broader economic changes or increased municipal funding needs. For investors and potential residents, this rising tax trajectory might impact budgeting decisions and influence the overall cost of living and property value appreciation.
Percentage of Farm Returns in Kenai Peninsula Borough, AK Over the Last 10 Years
Over the last decade, the percentage of farm returns in Kenai Peninsula Borough, Alaska shows a gradual rise from 0.95% in 2012 to a peak at 1.14% in 2015, followed by a slight decline to around 1.02% in 2021. Farm tax returns, which usually report income from farming activities, reflect the economic health of the agricultural sector in a region. This fluctuating trend indicates varying stability in the local farming economy, essential for potential investors or those considering property development in the region. For locals, understanding these agricultural dynamics can offer insight into broader economic conditions impacting their community.
Number of Mortgages by Occupancy Type in Kenai Peninsula Borough, AK Over the Last 5 Years in Kenai Peninsula Borough
Over the past five years in Kenai Peninsula Borough, Alaska, the number of mortgages for principal residences has consistently been higher than those for investment properties and second residences. This trend could suggest a stable demand for permanent housing in the area, which might be of interest to potential homebuyers, real estate investors, and developers. Although there are fewer second residences and investment properties, their numbers seem to have varied slightly, indicating a potentially volatile market for these types of properties that could influence lending risks, property valuations, and insurance premiums. These dynamics might draw attention from appraisers and insurance agents evaluating the risk profiles and value projections of properties within the borough.
Economic Outlook
In Kenai Peninsula Borough, Alaska, average taxable income per tax return rose significantly over the past nine years, hitting $83,811.88 in 2021. This upward trend points to a possibly strengthening local economy, which could be driven by wage growth or economic diversification. Concurrently, state and local income taxes have fluctuated notably, with a dramatic rise from $1,896.55 in 2012 to a peak of $7,916.67 in 2020, before slightly dropping to $6,470.83 in 2021. Additionally, the growing... Read more
Average Taxable Income per Tax Return in Kenai Peninsula Borough, AK over the last 9 years
Kenai Peninsula Borough, AK has experienced a noticeable rise in average taxable income per tax return over the past nine years, peaking at $83,811.88 in 2021. This growth, particularly significant from 2018 onwards, suggests a strengthening local economy, potentially driven by higher employment rates, wage growth, or economic diversification. For residents and prospective movers, this trend indicates an improving financial landscape and possibly better economic opportunities within the borough.
Average State and Local Income Taxes Per Tax Return in Kenai Peninsula Borough, AK Over the Last 10 Years
The average state and local income taxes per tax return in Kenai Peninsula Borough, AK have seen significant fluctuations over the past decade, with a notable steep rise beginning in 2017. From a low of $1,896.55 in 2012, the taxes surged sharply, peaking at $7,916.67 in 2020 before slightly declining to $6,470.83 in 2021. This dramatic increase in tax burdens could impact financial planning for current residents and potential new movers, making it a critical factor in evaluating the cost of living in this location.
Average Total Tax Liability Per Tax Return in Kenai Peninsula Borough, AK Over the Last 10 Years
Over the past decade, tax liability per tax return in Kenai Peninsula Borough, Alaska, has seen a significant upward trend, peaking in 2021 at $13,653.96. This growing tax burden reflects an evolving economic landscape that could impact investment decisions, property development, and residency considerations. Potential investors and residents should consider this financial trend when planning future financial strategies.
Cost of Living in Kenai Peninsula Borough
| Family Size | Housing | Food | Heath Care | Child Care | Taxes |
|---|---|---|---|---|---|
| 2 adults 4 children | $1,676 | $1,979 | $2,398 | $1,589 | $1,633 |
| 1 adult 4 children | $1,676 | $1,616 | $1,856 | $1,589 | $1,745 |
| 2 adults 3 children | $1,676 | $1,616 | $2,069 | $1,589 | $1,342 |
| 1 adult 3 children | $1,676 | $1,320 | $1,527 | $1,589 | $1,438 |
| 2 adults 2 children | $1,179 | $1,323 | $1,741 | $1,394 | $996 |
| 1 adult 2 children | $1,179 | $988 | $1,199 | $1,394 | $1,003 |
| 2 adults 1 child | $1,179 | $1,046 | $1,413 | $760 | $865 |
| 1 adult 1 child | $1,179 | $675 | $871 | $760 | $753 |
| 2 adults | $903 | $840 | $1,084 | $0 | $689 |
| 1 adult | $901 | $458 | $542 | $0 | $577 |
Safety trends & Data
Kenai Peninsula Borough, Alaska has seen variable property crime rates over recent years, with larceny-theft peaking at 264.00 in 2018, then declining notably by 2022. While burglary and vandalism have also decreased steadily after early peaks, motor vehicle theft dropped from 22.00 in 2018 to just 7.00 in 2022. Though less common, fraud and forgery still occur sporadically. These trends might inform investors about potential risks and the scope of security measures to... Read more
Property Crime Trends in Kenai Peninsula Borough, AK Over the Last 5 Years
Kenai Peninsula Borough, Alaska has observed notable fluctuations in property crime over the last five years with larceny-theft consistently being the most prevalent, peaking at 264.0 in 2018 before markedly declining by 2022. Burglary and vandalism have also shown variable trends, with both peaking early and steadily decreasing. Motor vehicle theft appears relatively stable but showed a decline from 22.0 in 2018 to 7.0 in 2022. Fraud and forgery incidents are lower but present, suggesting sporadic economic crimes. For those considering investments, understanding these trends could inform risk assessments and influence the scope of necessary security measures.
Demographics
Kenai Peninsula Borough, Alaska has a slightly higher male population compared to females. Educational attainment shows a significant portion with high school and some college education, pointing to a populace leaning towards secondary education but not necessarily achieving higher degrees. The age distribution skews older, with notable populations in both the 55-64 and 65-74 age brackets. Racial composition highlights a predominantly White population, with American Indian and Alaska Native as... Read more
Race Distribution in Kenai Peninsula Borough, Alaska (2022)
Educational Attainment in Kenai Peninsula Borough, Alaska (2022)
Age Distribution in Kenai Peninsula Borough, Alaska
Citizen Population in Kenai Peninsula Borough, Alaska (2022)
School Data
In Kenai Peninsula Borough, Alaska, the student-to-teacher ratio has been inconsistent over the past decade, peaking at fifteen students per teacher in 2020. Despite exceeding the national average of fourteen students per teacher, recent years are seeing a return towards this average, with 2023 nearly matching the peak ratio. For investors and real estate professionals, this fluctuation in classroom sizes could be a key factor in influencing the desirability of the region, impacting property... Read more
Student-to-teacher ratio in Kenai Peninsula Borough, Alaska over the last 10 years
The student-to-teacher ratio in Kenai Peninsula Borough, Alaska has fluctuated over the last ten years, peaking at fifteen students per teacher in 2020. While it briefly exceeded the current national average of fourteen students per teacher, recent years show a trend back towards the national average, with 2023 seeing nearly fifteen students per teacher again. Investors and those planning to move to the area might consider how classroom sizes can impact educational quality. For real estate agents and builders, understanding this dynamic can be vital as it may influence the desirability of living in the region. Insurance agents and appraisers might factor in these educational metrics when assessing property values, as they often play into family decisions and community development.
