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 96828 in Unknown, HI, presents a unique challenge due to the lack of specific demographic data. However, we can still analyze the potential for Section 8 tenants based on the available information. The absence of population figures and the percentage of renters indicates that this area might not be densely populated or well-documented, which could mean it's either a niche market or an area where data collection is sparse.
The median household income for ZIP 96828 is also listed as N/A, making it difficult to accurately assess the financial capacity of potential tenants. Without these key figures, it's impossible to determine whether this ZIP code is dominated by homeowners or renters. This ambiguity suggests that landlords need to conduct thorough local research to understand the housing dynamics better.
In terms of market rent, the specific dollar amount is also unavailable, leaving us with only the Fair Market Rent (FMR) figure to compare against. For fiscal year 2024, the FMR in ZIP 96828 is set at $2390. This is the maximum rent that a Section 8 voucher holder can pay, but without knowing the actual market rent, it's challenging to gauge how much of the local income it would consume. Typically, market rents are lower than FMRs, indicating that vouchers could cover a significant portion of the rent in many cases.
To conclude, landlords in ZIP 96828 should prepare for a tenant pool that may heavily rely on Section 8 vouchers, given the high FMR. However, the scarcity of detailed local data means that landlords must be proactive in gathering information about the local rental market and the financial status of prospective tenants. They should expect a mix of tenants who might require assistance with rent, necessitating a focus on thorough background checks and understanding the nuances of the local housing environment.
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.