Location: Kahului-Wailuku-Lahaina, HI | Metro: Kahului-Wailuku-Lahaina, HI HUD Metro FMR Area
Based on 1% Rule: A+ (≥1.5%) | A (≥1.2%) | B (≥1.0%) | C (≥0.8%) | D (≥0.6%) | F (<0.6%)
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,080 |
| 1 Bedroom | $2,280 |
| 2 Bedrooms | $2,980 |
| 3 Bedrooms | $3,760 |
| 4 Bedrooms | $4,650 |
| 5 Bedrooms | $5,394 |
| 6 Bedrooms | $6,041 |
| 7 Bedrooms | $6,524 |
| 8 Bedrooms | $6,850 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,280 | $663,494 | 0.34% | F |
| 2BR | $2,980 | $1,093,542 | 0.27% | F |
| 3BR | $3,760 | $1,400,632 | 0.27% | F |
| 4BR | $4,650 | $2,398,650 | 0.19% | F |
| 5BR | $5,394 | $2,072,430 | 0.26% | F |
U.S. Census Bureau data (2024)
The ZIP code 96761, located in Lahaina, HI, has a population of 20,952, with 39.2% of residents being renters. This indicates a significant portion of the community relies on rental housing, making it a viable market for Section 8 tenants. However, the median household income of $101,123 suggests that the area is relatively affluent compared to national averages.
The market rent in this ZIP stands at $3,908 per month, which represents approximately 38.6% of the median household income. This high percentage indicates that typical rents consume a substantial portion of the average resident's earnings, potentially creating a strong demand for rental assistance programs such as Section 8.
To further understand the dynamics of the rental market, we can compare the market rent to the Fair Market Rent (FMR) set by HUD for FY 2024, which is $2,260 for ZIP 96761. The FMR is significantly lower than the market rent, suggesting that landlords who accept Section 8 vouchers will need to adjust their expectations regarding rental income. Accepting a voucher means the landlord will receive a payment close to the FMR rather than the market rate.
In summary, ZIP 96761 is a renter-heavy area with a strong potential for Section 8 voucher usage due to the high cost of living and rent. Landlords should anticipate a tenant pool that includes individuals and families who require rental assistance to afford living in this ZIP. These tenants will likely have limited financial resources and may be sensitive to changes in their housing costs, necessitating a stable and reliable rental agreement.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-08-31). 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.