Location: Hawaii County, HI | Metro: Hawaii County, HI
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,440 |
| 1 Bedroom | $1,450 |
| 2 Bedrooms | $1,870 |
| 3 Bedrooms | $2,360 |
| 4 Bedrooms | $2,730 |
| 5 Bedrooms | $3,167 |
| 6 Bedrooms | $3,547 |
| 7 Bedrooms | $3,831 |
| 8 Bedrooms | $4,023 |
U.S. Census Bureau data (2024)
The Section 8 market analysis for ZIP code 96764 in the Hawaii County, HI metro area reveals a favorable environment for landlords and small-portfolio investors. The HUD Fair Market Rent (FMR) for the metro scope in fiscal year 2026 is set at $1,870, significantly higher than the market rent reported by the Census ACS, which stands at $1,313. This discrepancy indicates that voucher tenants will generally cashflow at the FMR level, providing a substantial buffer against market fluctuations and ensuring steady income.
To further analyze the investment potential, consider the median home value in the area, which is $618,063. Using this figure, we can derive a rent-to-price ratio of approximately 0.23%, indicating that rental properties are undervalued relative to the cost of homeownership. This suggests that rental properties could be an attractive alternative for those looking to avoid high purchase prices and the associated risks.
The dynamics between renting and buying are crucial for understanding the local market. With the median Days on Market (DOM) being N/A and the percentage of homes experiencing price cuts being N/A%, it's evident that the housing market is relatively stable, which benefits both renters and buyers. However, these metrics do not directly impact the decision-making process for rental property investors, who should focus primarily on the robust cashflow potential offered by the higher FMR compared to the market rent.
The strongest investor angle in ZIP code 96764 is undoubtedly cashflow. The significant gap between the HUD FMR and the actual market rent ensures that landlords can expect consistent positive cashflow from Section 8 voucher tenants, making it an ideal location for those seeking reliable rental income.
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.