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 analysis of ZIP code 96830 in Honolulu, HI, reveals several critical factors that must be considered before investing in this area as a landlord or small-portfolio investor.
Regarding the rent math, the Fair Market Rent (FMR) for the zip code in fiscal year 2024 is set at $2390. However, without specific market rent data, it's impossible to determine if this aligns with what tenants are willing to pay. Landlords should seek additional local market data to ensure their rental rates are competitive and profitable.
Concerning the affordability of property acquisition, the median home value is not available, which makes it difficult to assess the typical cost of purchasing a property in the area. Additionally, the days on market (DOM) and the percentage of homes sold with price cuts are also not provided, leaving a gap in understanding how quickly properties sell and at what price point.
Tenant demand in ZIP 96830 is another crucial factor. The population and the percentage of renters in the area are not specified, making it challenging to gauge the number of potential tenants and the competition for rental properties. A high percentage of renters would suggest strong demand, while a low figure might indicate a saturated market or limited opportunities.
Verdict: Investment in ZIP 96830 presents significant challenges due to the lack of specific data points such as market rent, median home value, days on market, and renter share. Without these details, it's impossible to definitively state whether the rent math works, if property acquisition is affordable, or if there is sufficient tenant demand. Potential investors should conduct thorough research to fill these data gaps before making any decisions.
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.