Peninsula rentals bucking statewide trend

Sep 5, 2018

Rental vacancies in Alaska rose for the second year in a row in fiscal year 2018, according to figures released by the state Labor Department. Likely factors they say is the continuing trend of people leaving Alaska because of the ongoing recession.

The Kenai Peninsula Borough, at $980, saw no change in adjusted median rent between 2017 and 2018. Adjusted rent includes all utilities whether they are included in the base rent or not.

The highest in the state, though actually down from 2017, is Kodiak at $1,370. The year before the median monthly rent was $1,433. The drop in Anchorage wasn’t quite as dramatic, at only $3, from $1,200 to $1,197 per month. In its report, the state said Anchorage and Kodiak have suffered the most by net migration losses, increasing the vacancy rate.

The Kenai Peninsula’s vacancy rate went down marginally, from 11.3 percent to 10.7.

Apartment rent is highest in Juneau at $1,377, seven dollars more than Kodiak, while house rent is highest in Fairbanks at $2,255, about $100 more than Anchorage and Juneau.

The Kenai Peninsula Borough was close to the bottom on both counts, but still several hundred dollars above the Wrangell-Petersburg measurement area.

The study reflects figures only from organized boroughs.