Location: Hawaii County, HI | Metro: Hawaii County, HI
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 | $1,550 |
| 1 Bedroom | $1,560 |
| 2 Bedrooms | $2,010 |
| 3 Bedrooms | $2,530 |
| 4 Bedrooms | $2,810 |
| 5 Bedrooms | $3,260 |
| 6 Bedrooms | $3,651 |
| 7 Bedrooms | $3,943 |
| 8 Bedrooms | $4,140 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-08-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 3BR | $2,530 | $473,383 | 0.53% | F |
U.S. Census Bureau data (2024)
The ZIP code 96776 stands out due to its unique combination of demographic and economic characteristics. With a population of 1,355 residents, it has a relatively low rental rate of 19.4%, indicating that most residents own their homes. The median income for this area is $93,241, which is higher than the national average, suggesting a generally affluent community. However, the median home value at $519,906 is significantly above the national median, reflecting a high cost of living in the region.
When it comes to Section 8 vouchers, the Fair Market Rent (FMR) for ZIP 96776 is set at $1,950 for fiscal year 2026, which is notably lower than the current market rent of $2,205 based on Census ACS data. This discrepancy between the FMR and the actual market rent presents a challenge for landlords who wish to participate in the Section 8 program. Despite the lower FMR, the high median income and home values indicate that landlords may still find a stable tenant base among those who qualify for assistance and can afford the difference between the FMR and market rates.
Based on the data signature, ZIP 96776 appears to be a stable market. The high median income supports a strong local economy, while the high median home value suggests a long-term investment in property. Although the rental market is smaller compared to other areas, the gap between FMR and market rents does not necessarily signal instability. Instead, it reflects the higher costs associated with living in this ZIP code, which could attract tenants who value the location despite the financial constraints imposed by the Section 8 program.
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.