Location: Urban Honolulu, HI | Metro: Urban Honolulu, HI MSA
| Unit Size | Monthly FMR |
|---|---|
| Studio | $2,180 |
| 1 Bedroom | $2,320 |
| 2 Bedrooms | $3,020 |
| 3 Bedrooms | $4,180 |
| 4 Bedrooms | $5,050 |
| 5 Bedrooms | $5,858 |
| 6 Bedrooms | $6,561 |
| 7 Bedrooms | $7,086 |
| 8 Bedrooms | $7,440 |
U.S. Census Bureau data (2024)
The Fair Market Rent (FMR) for ZIP 96857 in fiscal year 2024 is set at $2680. This figure is crucial when considering whether it will cover the mortgage on a property. However, due to the lack of specific data on median home values for ZIP 96857, it's challenging to provide a definitive answer. The absence of median home values in the search results suggests that this area may have limited data available, which could indicate a less active real estate market.
A skeptical investor might question if there is sufficient rental demand at the current occupancy rate. Unfortunately, the search results did not provide the occupancy rate or vacancy rate for ZIP 96857. Without this information, it's difficult to assess the level of competition among landlords and the overall demand for rental properties in the area. It's important to note that low vacancy rates can be indicative of strong rental demand, but we cannot confirm this for ZIP 96857 based on the provided data.
The investor might also wonder if housing vouchers will keep up with the market rents. While the Housing Choice Voucher (HCV) Data Dashboard provides national trends, it does not specify local data for ZIP 96857. Generally, vouchers aim to cover the majority of market rents, but their effectiveness can vary widely depending on the local market conditions. In ZIP 96857, without specific local data, it's unclear how well vouchers will align with the $2680 FMR.
In summary, while the FMR of $2680 offers a benchmark for rental pricing, the lack of detailed data on median home values, occupancy rates, and local voucher trends means that some questions remain unanswered. Investors should consider these limitations and conduct further research to understand the local real estate and rental market dynamics in ZIP 96857.
Data Sources: FMR data from HUD (2027). 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.