Ninilchik, Alaska.
Typical home $214,020 (+0.2% in a year).
to buy the typical home at today's mortgage rate — +$403 (+56%) since Jan 2020.
- 1 year
- Up $527 +0%
- $213,493$214,020 since Sep 2025
- 5 years
- Down $8,941 -4%
- $222,961$214,020 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Ninilchik$1,123
- Alaska$2,089
- United States$1,922
At the last five years' pace, prices here aren't rising.
Typical home values in Ninilchik, AK rose 0.2% over the past year — slower than the nation's +1.2%.
Living in Ninilchik, Kenai Peninsula Borough, Alaska
Ninilchik, in Kenai Peninsula Borough, had 845 people in the 2020 census. 87% of its homes are lived in by their owners and 13% are rented. Unemployment in Kenai Peninsula Borough was 3.4% in August 2026, and the county had 1.2% more jobs in 2025 than the year before. The most residents work in schools and health care, then restaurants and hotels.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Ninilchik is a small community on the Kenai Peninsula, and nearly everyone who lives here owns their home. A larger share of residents are in poverty than is typical across the borough, and the typical home is valued modestly. Winters are cold and very snowy, with highs below freezing in January, and summers stay cool, with July highs that never get properly hot.
Work. Residents are most often employed in schools, hospitals and social care, followed by restaurants, hotels and entertainment, with others working in farming, forestry and mining or in government. Across Kenai Peninsula Borough, the biggest workplaces include Central Peninsula General Hospital, the Kenai Peninsula Borough School District and South Peninsula Hospital. The commute is fairly short, and a good number of people work from home.
Things to do. Several rivers and a lake lie within a longer drive, among them the Kasilof River and Tustumena Lake. Deep Creek State Recreation Area, a protected area, is also a longer drive away, as is the Pratt Museum for a change of pace indoors.
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- 435households
- 30%of adults have a degree
- 18%below the poverty line
- 20 mintypical commute
- 11%work from home
What residents work in
Employed residents by industry, from the Census survey. Kenai Peninsula Borough had 21,722 jobs in 2025, 1.2% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 28° and lows near 18°; warmest in July, with highs near 60° and lows near 47°. About 101 inches of snow and 30 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Homer Northwest weather station, 23 miles away (NOAA).
Largest workplaces in Kenai Peninsula Borough
- Central Peninsula General HospitalGeneral hospital1,116FTE
- Kenai Peninsula Borough School DistrictSchool district1,112FTE
- South Peninsula HospitalCritical access hospital448FTE
- Kenaitze Indian TribeAmerican indian or alaska native tribal councils400
- WalmartWarehouse clubs and supercenters301
- Marathon Petroleum CompanyPetroleum refineries262
- Fred Meyer StoresWarehouse clubs and supercenters248
- State of Alaska138
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 42 workplaces with 20 or more staff, 4,331 people in all across the county; Ninilchik has none of its own. Hospitals come from their Medicare cost reports (CMS, 2023) and school districts from the Common Core of Data (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- EarthquakesVery high
- Winter weatherVery high
- WildfireRelatively high
- LandslidesRelatively moderate
- TsunamisRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Ninilchik’s census tracts, against the rest of the country; all of them together, very high. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Kenai Peninsula Borough.
Ninilchik home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Ninilchik$214,020
- Alaska$397,932
- United States$366,157
Sellers are cutting prices on about 1 in 5 Ninilchik listings — the market is roughly in balance.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Ninilchik19.09%
- United States26.90%
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Ninilchik31
New listings per month
Sellers arriving at the market.
- Ninilchik8
Zip codes with a Ninilchik address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Ninilchik — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.