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 ZIP code 96861 in Unknown, HI presents several challenges for potential Section 8 landlords. Tenant turnover is a significant concern, as there is no available data on market rent compared to the Fair Market Rent (FMR) of $2390 for FY 2024. This lack of information can lead to uncertainty in setting competitive rental rates that attract and retain tenants.
Vacancy exposure is another risk factor. With no data on days on market (DOM), it's difficult to predict how long a property might remain vacant between tenancies. Extended vacancies can negatively impact cash flow and overall profitability.
Deferred maintenance poses a threat due to the absence of typical home values and median income figures. Without these metrics, it's challenging to assess the financial capacity of residents to cover maintenance costs or the likelihood of the government covering such expenses.
However, the risk profile is somewhat mitigated by the high renter share in the area, though specific percentages are not available. High renter density generally correlates with higher demand for housing vouchers, which can provide a steady stream of tenants who are able to pay their portion of the rent consistently through government subsidies.
Verdict: Moderate risk for a first-time Section 8 landlord in ZIP 96861.
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.