Mortgage Rates in Kenai, Alaska — March 2026
Updated March 2026 | Based on Kenai market data and regional lending conditions
Kenai is a growing city in Alaska with a population of 7,424. The current 30-year fixed mortgage rate in Kenai is 6.83%, which is 0.18% above the national average. With a median home price of $251,000 and a 20% down payment of $50,200, homebuyers can expect a monthly principal and interest payment of approximately $1,313.
Current Mortgage Rates in Kenai, AK
Below are the current average mortgage rates available in the Kenai area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.83% | 6.65% | +0.18% |
| 15-Year Fixed | 6.06% | 5.89% | +0.17% |
| 5/1 ARM | 6.3% | 6.15% | +0.15% |
| FHA | 6.54% | 6.25% | +0.29% |
| VA | 6.29% | 6.05% | +0.24% |
| Jumbo | 7.08% | 6.85% | +0.23% |
Kenai Housing Market Overview
The Kenai housing market offers relatively affordable housing compared to many major cities. The median household income in Kenai is $65,200, and the cost of living index is 113.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $66,043 to comfortably afford the median-priced home in Kenai, which exceeds the current median household income.
Monthly Payment Breakdown for Kenai
Based on the median home price of $251,000 with 20% down ($50,200), here is what you can expect to pay monthly in Kenai:
15-Year vs. 30-Year Mortgage in Kenai
Choosing a 15-year mortgage in Kenai at 6.06% instead of a 30-year at 6.83% would save you $166,500 in total interest over the life of the loan. However, your monthly payment would be $1,701 instead of $1,313 — an increase of $388 per month.
Calculate Your Kenai Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Kenai
What are the current mortgage rates in Kenai, AK?
As of March 2026, the average 30-year fixed mortgage rate in Kenai, Alaska is 6.83%, while the 15-year fixed rate is 6.06%. FHA loans average 6.54% and VA loans 6.29%. These rates are 0.18% above the national average of 6.65%.
How much is a monthly mortgage payment in Kenai?
Based on the median home price of $251,000 with 20% down, the estimated monthly mortgage payment in Kenai is $1,313 for principal and interest. Including property taxes of $228/month, the total monthly housing cost is approximately $1,541.
What income do I need to buy a home in Kenai?
Using the 28% rule, you would need an annual income of approximately $66,043 to afford the median-priced home in Kenai at $251,000. The median household income in Kenai is $65,200. This means most households would need to either earn above the median or consider homes below $251,000.
Is Kenai a good place to buy a home in 2026?
Kenai has a moderate cost of living with a cost of living index of 113.5 (national average = 100). The property tax rate in Alaska is 1.09%, which is near the national average. Kenai has a population of 7,424 and offers a balanced lifestyle.
Mortgage Rates in Other Alaska Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Kenai, Alaska area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.