Location: Urban Honolulu, HI | Metro: Urban Honolulu, HI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $1,830 |
| 1 Bedroom | $1,950 |
| 2 Bedrooms | $2,540 |
| 3 Bedrooms | $3,520 |
| 4 Bedrooms | $4,250 |
| 5 Bedrooms | $4,930 |
| 6 Bedrooms | $5,522 |
| 7 Bedrooms | $5,964 |
| 8 Bedrooms | $6,262 |
ZIP code 96802, located within the Urban Honolulu, HI MSA, has a Fair Market Rent (FMR) of $2390 for fiscal year 2024. This figure provides insight into the rental market dynamics for this area. While the specific market rent and home value data for ZIP 96802 are not available, we can make comparisons based on the FMR alone.
In Urban Honolulu, HI MSA, typical ZIP codes have higher FMRs compared to ZIP 96802. The FMR for Urban Honolulu generally ranges above $2390, indicating that ZIP 96802 might be considered a value pocket within the broader metropolitan area. Landlords and small-portfolio investors should take note of this lower FMR, which could represent an opportunity for cost-effective investment.
The absence of specific market rent and home value data for ZIP 96802 suggests limited availability of comprehensive real estate statistics for this particular region. However, it's important to recognize that the FMR is a government-determined benchmark used for housing assistance programs, such as Section 8, and does not necessarily reflect the entire range of rental prices or home values within the ZIP code.
The renter share percentage for ZIP 96802 is also not provided. In other areas where high renter share coexists with below-average home values, it often indicates a favorable environment for Section 8 tenants. Such conditions create a sweet spot for landlords who are willing to participate in the program, as they can attract stable tenants without overpricing their properties.
Given the available data, ZIP 96802 appears to be a value pocket within the Urban Honolulu, HI MSA. Its lower FMR compared to the typical ZIP codes in the metro could attract investors looking for affordable opportunities. However, the lack of detailed market rent and home value data makes it challenging to draw definitive conclusions about its overall real estate status within the metropolitan area.
Data Sources: FMR data from HUD (2027).
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.