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Honolulu County/Honolulu/96821

96821

ZIPSAFMR
Honolulu County, HI
Zillow

ZIP Investment Score

53Below average

095130300
BRFMR
Eff. Rent
0 BR$2,490$2,060
1 BR$2,650$2,430
2 BR$3,450$3,280
3 BR$4,780$4,520
4 BR$5,770$6,140
5 BR$6,635Not available
6 BR$7,631Not available
7 BR$8,775Not available
8 BR$10,092Not available

Purchase Price Calculator

Maximum purchase price
$425,490

Cost breakdown

+Likely effective rent$3,280
HUD FMR$3,450
Market rentUsed$3,280
Est. payment standard (97%)$3,340
-Principal and interest-$2,152
Loan amount$340,392
Down payment$85,098
Rate6.50%
Term30 years
-Operating costs-$928
Property taxes-$425
Insurance-$175
Utilities$0
HOA$0
Management-$328
=Target cash flow+$200
Calculation mode

Hold period projections

Annual appreciation rate
3-year hold
+$52,112(61.2% ROI)
Projected value
$458,206
Return breakdown
Property appreciation+$32,716
Loan principal paid down+$12,195
Rental cash flow+$7,200
5-year hold
+$89,661(105.4% ROI)
Projected value
$481,403
Return breakdown
Property appreciation+$55,913
Loan principal paid down+$21,748
Rental cash flow+$12,000
10-year hold
+$194,994(229.1% ROI)
Projected value
$544,663
Return breakdown
Property appreciation+$119,173
Loan principal paid down+$51,821
Rental cash flow+$24,000

Public Housing Authority

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Rolodex

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Market Alignment

Studio
1.21
1 BR
1.09
2 BR
1.05
3 BR
1.06
4 BR
0.91
0.701.001.30aligned range
Historical
FY 2023-2027
FMR
FY2027
Market rent
last ~365 days
Property value
--
Tax rate
--
Mortgage rate
--

ZIP 96821 fair market rent, FY 2027

For FY 2027, HUD's Small Area Fair Market Rent for a two-bedroom unit in ZIP 96821 (Honolulu, HI) is $3,450 a month. That is down 2.8% from $3,550 in FY 2026. Honolulu 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, 96821 is tied for the 4th-highest two-bedroom rent (county range $2,080–$3,810). The median county two-bedroom FMR in Hawaii is $2,326, so ZIP 96821 is 48% above it.

FY 2027 rent by bedroom

FY 2027 fair market rent by bedroom for 96821
BedroomsFY 2027Change90–110% range
Studio$2,490−1.2%$2,241–$2,739
1BR$2,650−2.2%$2,385–$2,915
2BR$3,450−2.8%$3,105–$3,795
3BR$4,780−3.2%$4,302–$5,258
4BR$5,770−3.2%$5,193–$6,347

Fair market rent history, FY 2023–2027

Fair market rent by fiscal year for 96821
Fiscal yearStudio1BR2BR3BR4BR
FY 2027$2,490$2,650$3,450$4,780$5,770
FY 2026$2,520$2,710$3,550$4,940$5,960
FY 2025$2,560$2,780$3,640$5,100$6,110
FY 2024$2,330$2,550$3,340$4,710$5,670
FY 2023$2,250$2,470$3,230$4,590$5,500

Two-bedroom rent in nearby Honolulu County ZIP codes

FY 2027 two-bedroom Small Area FMR by ZIP code
ZIP code2 bedroomvs. 96821
96815$3,190−7.5%
96816$2,530−26.7%
96817$2,200−36.2%
96818$3,4500.0%
96819$2,460−28.7%
96820$2,540−26.4%
96821Current$3,450—
96822$2,520−27.0%
96823$2,540−26.4%
96824$2,540−26.4%
96825$3,810+10.4%
96826$2,420−29.9%

Questions about ZIP 96821 rents

How much will Section 8 pay for a two-bedroom in ZIP 96821?

Housing authorities set voucher payment standards, normally between 90% and 110% of the FMR. With a two-bedroom FMR of $3,450, that basic range is $3,105 to $3,795 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 96821 in?

ZIP 96821 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 96821 for FY 2027?

The two-bedroom FMR fell 2.8%, from $3,550 in FY 2026 to $3,450 in FY 2027. Since FY 2023 it has risen 6.8%.

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