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 |
The Fair Market Rent (FMR) for ZIP 96809 in Hawaii, set at $2390 for fiscal year 2024, provides a snapshot of the rental market's current state. However, the absence of specific market rent figures and days on market (DOM) data suggests that there might be limited recent transactions or listings available for analysis, indicating a potentially stable or less active rental market compared to more dynamic areas.
The lack of a median home value figure and the missing percentage of price-cut share further underscore the scarcity of detailed data points, which could mean that the housing market in this area is either highly specialized or has a unique structure that doesn't lend itself easily to broad statistical analysis. This can also imply that there is little fluctuation in home values, suggesting stability but possibly also indicating a lack of significant growth or decline in property values.
ZIP 96809's unknown renter share percentage is critical in understanding the long-term housing pressures. In many markets, a higher renter share often correlates with increased housing pressure, as it reflects a larger portion of the population relying on rental properties rather than owning homes. The absence of this data point makes it challenging to assess the balance between renters and homeowners, which is essential for predicting future trends in housing demand. It could suggest a mixed market where neither renters nor homeowners significantly outnumber the other, leading to a balanced but potentially less competitive environment for landlords.
Given the available data, it appears that the supply and demand dynamics in ZIP 96809 are likely in equilibrium, without strong indications of either supply outpacing demand or vice versa. Landlords and small-portfolio investors should focus on maintaining competitive rents around the FMR to attract tenants and ensure steady occupancy rates. Additionally, understanding the local economy and employment sectors can provide insights into the potential for changes in housing demand driven by external factors.
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.