FMR is near market; voucher and private rents are aligned.
0.94
2 BR
2 BR- 96734
0.95ratio
FMR$3,660
Market$3,870
vs market-$210
FMR is near market; voucher and private rents are aligned.
0.95
3 BR
3 BR- 96734
1.08ratio
FMR$5,070
Market$4,680
vs market+$390
FMR is near market; voucher and private rents are aligned.
1.08
4 BR
4 BR- 96734
1.03ratio
FMR$6,120
Market$5,940
vs market+$180
FMR is near market; voucher and private rents are aligned.
1.03
0.700.800.901.001.101.201.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
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Kailua, HI fair market rent, FY 2027
For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in Kailua, HI is $3,660 a month. That is up 1.4% from $3,610 in FY 2026. Kailua is in the Urban Honolulu, HI MSA, where HUD requires housing authorities to set voucher payment standards by ZIP code using Small Area FMRs. The median county two-bedroom FMR in Hawaii is $2,326, so Kailua is 57% above it.
FY 2027 rent by bedroom
FY 2027 fair market rent by bedroom for Kailua, HI
Bedrooms
FY 2026
FY 2027
Change
90–110% range
Studio
$2,560
$2,640
+3.1%
$2,376–$2,904
1BR
$2,760
$2,810
+1.8%
$2,529–$3,091
2BR
$3,610
$3,660
+1.4%
$3,294–$4,026
3BR
$5,020
$5,070
+1.0%
$4,563–$5,577
4BR
$6,060
$6,120
+1.0%
$5,508–$6,732
Fair market rent history, FY 2023–2027
Fair market rent by fiscal year for Kailua, HI
Fiscal year
Studio
1BR
2BR
3BR
4BR
FY 2027
$2,640
$2,810
$3,660
$5,070
$6,120
FY 2026
$2,560
$2,760
$3,610
$5,020
$6,060
FY 2025
$2,580
$2,810
$3,680
$5,160
$6,180
FY 2024
$2,340
$2,560
$3,350
$4,720
$5,680
FY 2023
$2,230
$2,450
$3,210
$4,560
$5,470
Questions about Kailua, HI rents
How much will Section 8 pay for a two-bedroom in Kailua, HI?
Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $3,660, that basic range is $3,294 to $4,026 a month. The voucher pays the lower of the payment standard or the gross rent, minus the tenant's share, which is usually about 30% of adjusted monthly income. Confirm the local housing authority's current schedule before underwriting.
Which HUD fair market rent area is Kailua, HI in?
Kailua, HI is in the Urban Honolulu, HI MSA. HUD requires Small Area FMRs in this area, so payment standards are set by ZIP code.
How much did fair market rent change in Kailua, HI for FY 2027?
The two-bedroom FMR rose 1.4%, from $3,610 in FY 2026 to $3,660 in FY 2027. Since FY 2023 it has risen 14.0%.
When do FY 2027 fair market rents take effect?
HUD's FY 2027 fair market rents took effect on October 1, 2026. When FMRs change, housing authorities generally have up to three months to bring payment standards back within 90% to 110% of the new FMR.
Source: HUD FY 2027 Small Area Fair Market Rents and area FMRs. Payment-standard ranges are 90% to 110% of FMR, HUD's basic range, not a housing authority's published schedule. How payment standards are set