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 | $2,090 |
| 1 Bedroom | $2,230 |
| 2 Bedrooms | $2,900 |
| 3 Bedrooms | $4,020 |
| 4 Bedrooms | $4,850 |
| 5 Bedrooms | $5,626 |
| 6 Bedrooms | $6,301 |
| 7 Bedrooms | $6,805 |
| 8 Bedrooms | $7,145 |
Zillow median home prices vs Section 8 FMR rates (Data: 2026-07-31)
| Bedrooms | Monthly FMR | Median Price | 1% Rule | Grade |
|---|---|---|---|---|
| 1BR | $2,230 | $592,412 | 0.38% | F |
| 2BR | $2,900 | $880,866 | 0.33% | F |
| 3BR | $4,020 | $1,481,180 | 0.27% | F |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP code 96814 in Honolulu, HI, for fiscal year 2024 is set at $2,490. This figure represents the maximum amount that a landlord can charge a tenant participating in the Section 8 housing choice voucher program. It is not the actual rent you will receive but rather a guideline to ensure that rents are reasonable and affordable.
To put this into perspective, the Zillow Observed Rental Index (ZORI), which reflects typical market rents, stands at $3,029 for the same area. This means that if you're considering a Section 8 rental, your income will be lower compared to the average market rate. However, the stability and reliability of Section 8 payments can outweigh the difference in rent price.
In ZIP 96814, 49.9% of the population are renters. This indicates a strong demand for rental properties, making it a viable option for landlords who want to ensure occupancy. The high percentage of renters suggests that there are many individuals and families looking for affordable housing solutions, including those who qualify for Section 8 assistance.
If you're looking to acquire a property in this area specifically for Section 8 tenants, the median home value in ZIP 96814 is around $645,778. This is an important consideration when deciding whether to invest in a Section 8 rental. While the monthly income might be slightly less than market rates, the long-term stability and the potential for a steady stream of tenants can make this investment worthwhile.
Before committing to a Section 8 rental, verify that the property meets all the necessary requirements for the program. This includes ensuring that the property passes a Housing Quality Standards (HQS) inspection and that it is in good condition. These checks are crucial because they determine whether your property can be approved for the Section 8 program, ensuring that you can participate without any unexpected issues.
Data Sources: FMR data from HUD (2027). Median home prices from Zillow (2026-07-31). 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.