Location: Urban Honolulu, HI | Metro: Urban Honolulu, HI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,830 |
| 1 Bedroom | $1,950 |
| 2 Bedrooms | $2,540 |
| 3 Bedrooms | $3,520 |
| 4 Bedrooms | $4,250 |
| 5 Bedrooms | $4,930 |
| 6 Bedrooms | $5,522 |
| 7 Bedrooms | $5,964 |
| 8 Bedrooms | $6,262 |
The Section 8 market in ZIP code 96709, located in Urban Honolulu County, HI, presents unique opportunities and challenges for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for this area in fiscal year 2024 is set at $2390, which serves as a benchmark for rental income under the Section 8 program. However, due to limited data on market rents for ZIP 96709, it's difficult to make a direct comparison. Nonetheless, based on the HUD FMR, landlords can expect that voucher tenants will generally cashflow at the FMR rate without needing to rely on premium units.
The median home value in ZIP 96709 is currently unavailable, making it challenging to derive an exact rent-to-price ratio. This ratio would typically indicate the financial viability of renting versus buying in the area, but with the lack of specific data points, we must rely on other indicators. For instance, the day's market conditions and days on market (DOM) statistics, which are also not available, could provide insights into the local housing market's liquidity and the bargaining power of buyers and sellers.
The percentage of price cuts shared among properties is another metric that remains unspecified for this area. Typically, this information helps investors understand how much flexibility sellers have in adjusting their prices to attract buyers, which can impact the overall stability and attractiveness of the rental market. Without these figures, it's advisable for investors to focus on the HUD FMR as a reliable indicator of rental income potential.
In conclusion, the strongest angle for investors in ZIP 96709 is likely to be cashflow. Given the established HUD FMR of $2390, landlords can secure steady rental income from voucher tenants, ensuring a predictable and stable revenue stream. While appreciation and stability are important considerations, the guaranteed income from Section 8 vouchers makes cashflow the most compelling reason to invest in this market.
Data Sources: FMR data from HUD (2027).
About FMR: Fair Market Rent (FMR) is used to determine payment standards for the Section 8 Housing Choice Voucher program, initial renewal rents for some expiring project-based Section 8 contracts, and rent ceilings for HOME Investment Partnerships.