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Honolulu County/Kailua/96734

96734

ZIPSAFMR
Honolulu County, HI
Zillow

ZIP Investment Score

61Below average

095130300
BRFMR
Eff. Rent
0 BR$2,640$2,350
1 BR$2,810$2,920
2 BR$3,660$3,800
3 BR$5,070$4,680
4 BR$6,120$5,940
5 BR$7,038Not available
6 BR$8,094Not available
7 BR$9,308Not available
8 BR$10,704Not available

Purchase Price Calculator

Maximum purchase price
$502,762

Cost breakdown

+Likely effective rent$3,800
HUD FMR$3,660
Market rent$3,870
Est. payment standard (104%)Used$3,800
-Principal and interest-$2,542
Loan amount$402,210
Down payment$100,552
Rate6.50%
Term30 years
-Operating costs-$1,058
Property taxes-$503
Insurance-$175
Utilities$0
HOA$0
Management-$380
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$60,268(59.9% ROI)
Projected value
$541,420
Return breakdown
Property appreciation+$38,658
Loan principal paid down+$14,410
Rental cash flow+$7,200
5-year hold
+$103,764(103.2% ROI)
Projected value
$568,829
Return breakdown
Property appreciation+$66,067
Loan principal paid down+$25,697
Rental cash flow+$12,000
10-year hold
+$226,048(224.8% ROI)
Projected value
$643,578
Return breakdown
Property appreciation+$140,816
Loan principal paid down+$61,232
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.12
1 BR
0.94
2 BR
0.95
3 BR
1.08
4 BR
1.03
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 96734 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 96734 (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. Among 60 ZIP codes in Honolulu County, 96734 is tied for the 2nd-highest two-bedroom rent (county range $2,080–$3,810). The median county two-bedroom FMR in Hawaii is $2,326, so ZIP 96734 is 57% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 96734
BedroomsFY 2027Change90–110% range
Studio$2,640+3.1%$2,376–$2,904
1BR$2,810+1.8%$2,529–$3,091
2BR$3,660+1.4%$3,294–$4,026
3BR$5,070+1.0%$4,563–$5,577
4BR$6,120+1.0%$5,508–$6,732

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 96734
Fiscal yearStudio1BR2BR3BR4BR
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

Two-bedroom rent in nearby Honolulu County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 96734
96701$2,360−35.5%
96706$3,210−12.3%
96707$3,130−14.5%
96709$2,540−30.6%
96712$2,490−32.0%
96717$2,720−25.7%
96730$2,370−35.2%
96731$2,080−43.2%
96734Current$3,660—
96744$2,800−23.5%
96759$2,540−30.6%
96762$3,030−17.2%

Questions about ZIP 96734 rents

How much will Section 8 pay for a two-bedroom in ZIP 96734?

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 ZIP 96734 in?

ZIP 96734 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 ZIP 96734 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

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