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Hawaii County/Honomu/96728

96728

ZIPSAFMR
Hawaii County, HI
Zillow

ZIP Investment Score

88Below average

095130300
BRFMR
Eff. Rent
0 BR$1,610$1,610
1 BR$1,620$1,620
2 BR$2,090$2,090
3 BR$2,630$2,630
4 BR$3,040$3,040
5 BR$3,496Not available
6 BR$4,020Not available
7 BR$4,623Not available
8 BR$5,317Not available

Purchase Price Calculator

Maximum purchase price
$248,657

Cost breakdown

+Likely effective rent$2,090
HUD FMRUsed$2,090
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,257
Loan amount$198,925
Down payment$49,731
Rate6.50%
Term30 years
-Operating costs-$633
Property taxes-$249
Insurance-$175
Utilities$0
HOA$0
Management-$209
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$33,446(67.3% ROI)
Projected value
$267,776
Return breakdown
Property appreciation+$19,119
Loan principal paid down+$7,127
Rental cash flow+$7,200
5-year hold
+$57,385(115.4% ROI)
Projected value
$281,332
Return breakdown
Property appreciation+$32,676
Loan principal paid down+$12,709
Rental cash flow+$12,000
10-year hold
+$123,929(249.2% ROI)
Projected value
$318,302
Return breakdown
Property appreciation+$69,645
Loan principal paid down+$30,284
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Not enough rental comps in this area to determine how FMR aligns with current market rates.

Historical
FY 2023-2027
FMR
FY2027
Property value
--
Tax rate
--
Mortgage rate
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ZIP 96728 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 96728 (Honomu, HI) is $2,090 a month. That is down 9.5% from $2,310 in FY 2026. Honomu is in the Hawaii County, HI non-metropolitan FMR area. HUD also publishes the ZIP-level Small Area FMRs shown here, but unless the local housing authority has adopted them, vouchers are based on the county-wide two-bedroom FMR of $2,081. Among 32 ZIP codes in Hawaii County, 96728 has the 12th-highest two-bedroom rent (county range $1,870–$2,920). The median county two-bedroom FMR in Hawaii is $2,326, so ZIP 96728 is 10% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 96728
BedroomsFY 2027Change90–110% range
Studio$1,610−9.0%$1,449–$1,771
1BR$1,620−9.0%$1,458–$1,782
2BR$2,090−9.5%$1,881–$2,299
3BR$2,630−9.9%$2,367–$2,893
4BR$3,040−9.8%$2,736–$3,344

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 96728
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,610$1,620$2,090$2,630$3,040
FY 2026$1,770$1,780$2,310$2,920$3,370
FY 2025$1,890$1,930$2,490$3,240$3,630
FY 2024area FMR$1,458$1,548$2,010$2,588$2,855
FY 2023area FMR$1,281$1,449$1,901$2,446$2,582

Marked years use a different HUD benchmark than FY 2027, so they are not a like-for-like change.

Two-bedroom rent in nearby Hawaii County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 96728
96718$2,080−0.5%
96719$2,720+30.1%
96720$1,930−7.7%
96721$2,080−0.5%
96725$2,420+15.8%
96726$2,650+26.8%
96727$2,050−1.9%
96728Current$2,090—
96737$2,280+9.1%
96738$2,920+39.7%
96739$2,080−0.5%
96740$2,440+16.7%

Questions about ZIP 96728 rents

How much will Section 8 pay for a two-bedroom in ZIP 96728?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With the county-wide two-bedroom FMR of $2,081, which applies unless the housing authority uses Small Area FMRs, that basic range is $1,873 to $2,289 a month; under the ZIP-level Small Area FMR of $2,090 it would be $1,881 to $2,299. 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 ZIP 96728 in?

ZIP 96728 is in the Hawaii County, HI non-metropolitan FMR area. Small Area FMRs are optional here; the county-wide two-bedroom FMR is $2,081.

How much did fair market rent change in ZIP 96728 for FY 2027?

The two-bedroom FMR fell 9.5%, from $2,310 in FY 2026 to $2,090 in FY 2027. Since FY 2025 it has fallen 16.1%.

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

County fair market rentHonomu, HI fair market rentHI statewide rentsWhat is SAFMR?Data sources