Location: Urban Honolulu, HI | Metro: Urban Honolulu, HI MSA
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 | $2,190 |
| 1 Bedroom | $2,330 |
| 2 Bedrooms | $3,030 |
| 3 Bedrooms | $4,200 |
| 4 Bedrooms | $5,060 |
| 5 Bedrooms | $5,870 |
| 6 Bedrooms | $6,574 |
| 7 Bedrooms | $7,100 |
| 8 Bedrooms | $7,455 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $4,200 | $1,127,240 | 0.37% | F |
| 4BR | $5,060 | $1,332,025 | 0.38% | F |
| 5BR | $5,870 | $1,484,380 | 0.4% | F |
U.S. Census Bureau data (2024)
The ZIP code 96762 stands out due to its unique demographic and economic characteristics. With a population of 5,710 residents, it has a significant rental market, where 59.1% of the households rent their homes. The median income in this area is $125,645, which is relatively high, indicating a prosperous community. However, the median home value of $1,259,395 is exceptionally high, suggesting that homeownership is predominantly among higher-income individuals.
In terms of Section 8 voucher economics, the Fair Market Rent (FMR) for ZIP 96762 is set at $2,550 for fiscal year 2024, compared to the market rate of $2,350 based on Census ACS data. This means that landlords participating in the Section 8 program can potentially charge slightly more than the current market rate for rental units, making it an attractive option for those seeking stable rental income.
The data signature for ZIP 96762 reads as "stable." Despite the high median home value, the rental market is robust, and the median income supports a healthy economy. The slight premium on FMR over the market rate indicates that the housing assistance program is well-calibrated to the local rental market conditions, providing both tenants and landlords with a balanced arrangement.
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.