Location: Kahului-Wailuku-Lahaina, HI | Metro: Kahului-Wailuku-Lahaina, HI HUD Metro FMR Area
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,710 |
| 1 Bedroom | $1,800 |
| 2 Bedrooms | $2,370 |
| 3 Bedrooms | $3,060 |
| 4 Bedrooms | $3,820 |
| 5 Bedrooms | $4,431 |
| 6 Bedrooms | $4,963 |
| 7 Bedrooms | $5,360 |
| 8 Bedrooms | $5,628 |
U.S. Census Bureau data (2024)
1790 In ZIP code 96757, the Fair Market Rent (FMR) for 2024 stands at $1790, providing a benchmark for rental pricing in the area. 1783 The Census ACS data indicates that the average market rent is slightly below this figure at $1,783, suggesting a competitive yet fair rental environment. 424387 With a median home value of $424,387, the housing market in 96757 reflects a stable and valuable real estate investment opportunity. 233 Additionally, the renter share of 23.3% highlights a significant portion of the population who are likely to be interested in rental properties, thus ensuring a steady demand. 74432 The median income of $74,432 in the region supports the potential for tenants to afford higher rents, aligning well with the FMR. Despite these figures, the data does not provide specifics on the days on market (DOM) or the percentage of homes that have had their prices cut, which could offer further insights into the local housing market dynamics.
Investors should note that the slight difference between the FMR and the actual market rent could indicate room for modest increases in rental rates without deterring potential tenants. The median home value also suggests that property appreciation is a realistic expectation, given the stability of the housing market. Furthermore, the median income figure provides assurance that the majority of residents can support rental prices near the FMR, reducing the risk of vacancy. However, the lack of detailed DOM and price-cut share data means that investors must rely on other sources to understand how quickly properties sell and whether there is a trend of price reductions among listings.
Based on the available data, the Section 8 program remains a viable option for landlords and small-portfolio investors in ZIP code 96757, as it aligns closely with the market conditions and ensures a steady stream of income. 1790 The $1790 FMR is a key consideration for setting rents that are both fair and profitable. 424387 The median home value of $424,387 underscores the long-term appreciation potential, making the investment attractive for those looking to build equity over time. 74432 The median income of $74,432 supports the financial viability of tenants, reducing the risk of non-payment and increasing the likelihood of finding quality renters.
Investors should proceed with confidence in exploring opportunities within the Section 8 program in ZIP 96757, leveraging the favorable economic indicators and stable market conditions. 1790 The FMR provides a clear guideline for rental pricing, while the overall economic health of the area ensures a reliable tenant pool. 424387 Given the median home value, the potential for capital appreciation adds an additional layer of attractiveness to the investment. 74432 The strong median income further solidifies the appeal of this market for Section 8 participation.
Verdict: ZIP 96757 is a good fit for Section 8 investments, supported by favorable economic indicators and stable market conditions.
Data Sources: FMR data from HUD (2027). Demographics from U.S. Census (2024).
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.