Skip to main content
Loading page
Hawaii County/Papaikou/96781

96781

ZIPSAFMR
Hawaii County, HI
Zillow

ZIP Investment Score

92Below average

095130300
BRFMR
Eff. Rent
0 BR$1,640$1,640
1 BR$1,650$1,650
2 BR$2,130$2,130
3 BR$2,680$2,680
4 BR$2,990$2,990
5 BR$3,438Not available
6 BR$3,954Not available
7 BR$4,547Not available
8 BR$5,230Not available

Purchase Price Calculator

Maximum purchase price
$254,601

Cost breakdown

+Likely effective rent$2,130
HUD FMRUsed$2,130
Market rentN/A
Est. payment standardN/A
-Principal and interest-$1,287
Loan amount$203,681
Down payment$50,920
Rate6.50%
Term30 years
-Operating costs-$643
Property taxes-$255
Insurance-$175
Utilities$0
HOA$0
Management-$213
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$34,074(66.9% ROI)
Projected value
$274,177
Return breakdown
Property appreciation+$19,576
Loan principal paid down+$7,297
Rental cash flow+$7,200
5-year hold
+$58,470(114.8% ROI)
Projected value
$288,057
Return breakdown
Property appreciation+$33,457
Loan principal paid down+$13,013
Rental cash flow+$12,000
10-year hold
+$126,318(248.1% ROI)
Projected value
$325,910
Return breakdown
Property appreciation+$71,310
Loan principal paid down+$31,008
Rental cash flow+$24,000

Public Housing Authority

Loading Public Housing Authority

Rolodex

Loading Rolodex

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
--

ZIP 96781 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 96781 (Papaikou, HI) is $2,130 a month. That is down 6.6% from $2,280 in FY 2026. Papaikou 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, 96781 has the 10th-highest two-bedroom rent (county range $1,870–$2,920). The median county two-bedroom FMR in Hawaii is $2,326, so ZIP 96781 is 8% below it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 96781
BedroomsFY 2027Change90–110% range
Studio$1,640−6.3%$1,476–$1,804
1BR$1,650−6.2%$1,485–$1,815
2BR$2,130−6.6%$1,917–$2,343
3BR$2,680−6.9%$2,412–$2,948
4BR$2,990−9.9%$2,691–$3,289

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 96781
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$1,640$1,650$2,130$2,680$2,990
FY 2026$1,750$1,760$2,280$2,880$3,320
FY 2025$1,750$1,790$2,310$3,010$3,370
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. 96781
96764$1,870−12.2%
96771$1,960−8.0%
96772$1,990−6.6%
96773$2,080−2.3%
96774$2,080−2.3%
96776$2,010−5.6%
96777$1,990−6.6%
96778$1,910−10.3%
96780$1,870−12.2%
96781Current$2,130—
96783$1,940−8.9%
96785$1,870−12.2%

Questions about ZIP 96781 rents

How much will Section 8 pay for a two-bedroom in ZIP 96781?

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 $2,130 it would be $1,917 to $2,343. 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 96781 in?

ZIP 96781 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 96781 for FY 2027?

The two-bedroom FMR fell 6.6%, from $2,280 in FY 2026 to $2,130 in FY 2027. Since FY 2025 it has fallen 7.8%.

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