HUD Fair Market Rent · FY 2027 · Effective Oct 1, 2026 to Sep 30, 2027
Fair Market Rent in Hawaii County, Hawaii (FY 2027)
A two-bedroom in Hawaii County carries a FY 2027 Fair Market Rent of $2,081 a month, effective October 1, 2026 through September 30, 2027. Everything Section 8 pays in Hawaii keys off that figure.
Two-bedroom FMR
$2,081
+0.2% from FY 2026
Payment standard
$1,873–$2,289
90% to 110% of the FMR, two-bedroom
Income to afford
$83,240
a year, with rent at 30% of income
Rank in Hawaii
5th of 5
by two-bedroom FMR, highest first
FY 2027 Fair Market Rents
Payment standard is the 90% to 110% band a housing authority can set. Income needed puts rent at 30% of gross income, and the hourly wage assumes a 40-hour week.
| Bedrooms | FMR | Payment standard | Income needed | Hourly wage | vs FY 2026 |
|---|---|---|---|---|---|
| Studio | $1,605 | $1,445–$1,766 | $64,200 | $30.87/hr | +0.8% |
| 1 bedroom | $1,615 | $1,454–$1,777 | $64,600 | $31.06/hr | +0.7% |
| 2 bedroom | $2,081 | $1,873–$2,289 | $83,240 | $40.02/hr | +0.2% |
| 3 bedroom | $2,620 | $2,358–$2,882 | $104,800 | $50.38/hr | -0.1% |
| 4 bedroom | $2,910 | $2,619–$3,201 | $116,400 | $55.96/hr | -3.8% |
Five to eight bedrooms (PropMetrics estimates)
HUD stops at four bedrooms. These add 15% of the four-bedroom rent per extra bedroom. It's our estimate, not a HUD number.
| Bedrooms | Estimated FMR | Payment standard |
|---|---|---|
| 5 bedroom Estimate | $3,347 | $3,012–$3,682 |
| 6 bedroom Estimate | $3,783 | $3,405–$4,161 |
| 7 bedroom Estimate | $4,220 | $3,798–$4,642 |
| 8 bedroom Estimate | $4,656 | $4,190–$5,122 |
Source: HUD Office of Policy Development and Research, FY 2027 Fair Market Rents. Rents include utilities. huduser.gov
Market check
HUD's number is one input. What does a two-bedroom in Hawaii actually rent for?
Search any address in Hawaii for a rent estimate built from nearby comps, with the HUD figure right next to it.
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What a voucher pays here
The voucher doesn't pay the FMR itself. It pays the payment standard. Housing authorities set it anywhere from 90% to 110% of FMR, which puts a two-bedroom standard in Hawaii somewhere between $1,873 and $2,289. The tenant pays roughly 30% of their income, the voucher covers the rest up to the standard, and the PHA won't approve a rent above what comparable unassisted units get.
$2,081 a month is affordable, by HUD's 30% rule, on an income of roughly $83,240 a year. Put another way, $40 an hour full time.
Worked example for a two-bedroom renting at the payment standard. The tenant pays 30% of monthly income and the voucher covers the rest.
| Monthly household income | Tenant pays (30%) | Voucher pays at 90%$1,873 | Voucher pays at 100%$2,081 | Voucher pays at 110%$2,289 |
|---|---|---|---|---|
| $2,500 | $750 | $1,123 | $1,331 | $1,539 |
| $4,000 | $1,200 | $673 | $881 | $1,089 |
Rate history
The two-bedroom rate went up 0% from FY 2026 ($2,076) to FY 2027 ($2,081). Since FY 2020 it's up 46% in total, about 5.5% a year. The Hawaii median moved down 7% over the same year.
| Fiscal year | Studio | 1 BR | 2 BR | 3 BR | 4 BR | 2BR change |
|---|---|---|---|---|---|---|
| FY 2020 | $931 | $1,085 | $1,429 | $1,800 | $1,936 | — |
| FY 2021 | $969 | $1,115 | $1,469 | $1,889 | $1,992 | +2.8% |
| FY 2022 | $1,017 | $1,164 | $1,531 | $1,969 | $2,076 | +4.2% |
| FY 2023 | $1,281 | $1,449 | $1,901 | $2,446 | $2,582 | +24.2% |
| FY 2024 | $1,458 | $1,548 | $2,010 | $2,588 | $2,855 | +5.7% |
| FY 2025 | $1,575 | $1,612 | $2,075 | $2,703 | $3,023 | +3.2% |
| FY 2026 | $1,592 | $1,603 | $2,076 | $2,622 | $3,024 | +0.0% |
| FY 2027In effect | $1,605 | $1,615 | $2,081 | $2,620 | $2,910 | +0.2% |
About this rate
Fair Market Rent is HUD's estimate of what a modest, decent unit rents for in an area, utilities included. It's set once a year and runs October to September. For FY 2027 that's October 1, 2026 through September 30, 2027. In Hawaii, that runs from $1,605 for a studio up to $2,910 for four bedrooms, all five rates in the table above.
Because Hawaii sits outside any HUD metro area, its rate is a county-wide figure built from local rents. One number covers every address in the county, Hilo included.
Among Hawaii's 5 counties, Hawaii ranks 5th for two-bedroom FMR. That's about 11% below the state median of $2,326 and about 96% above the national median county at $1,063. About 205,769 people live here, 2nd in the state.
Rates by ZIP code
Zoom in and the picture changes. HUD's Small Area FMRs put a two-bedroom at $1,870 in 96749 (Keaau) and $2,920 in 96738 (Waikoloa), with the 32 ZIP codes in between. Housing authorities in HUD-designated metros use those ZIP rates instead of the county rate. Everywhere else the ZIP numbers show where rents actually sit, and the county rate stays the official standard.
| ZIP | City | 2BR rate | vs county |
|---|---|---|---|
| 96704 | Captain Cook | $2,650 | +27.3% |
| 96710 | Hakalau | $2,110 | +1.4% |
| 96718 | Hawaii National Park | $2,080 | -0.0% |
| 96719 | Hawi | $2,720 | +30.7% |
| 96720 | Hilo | $1,930 | -7.3% |
| 96721 | Hilo | $2,080 | -0.0% |
| 96725 | Holualoa | $2,420 | +16.3% |
| 96726 | Honaunau | $2,650 | +27.3% |
| 96727 | Honokaa | $2,050 | -1.5% |
| 96728 | Honomu | $2,090 | +0.4% |
| 96737 | Ocean View | $2,280 | +9.6% |
| 96738 | Waikoloa | $2,920 | +40.3% |
| 96739 | Keauhou | $2,080 | -0.0% |
| 96740 | Kailua Kona | $2,440 | +17.3% |
| 96743 | Kamuela | $2,850 | +37.0% |
| 96745 | Kailua Kona | $2,080 | -0.0% |
| 96749 | Keaau | $1,870 | -10.1% |
| 96750 | Kealakekua | $1,870 | -10.1% |
| 96755 | Kapaau | $2,140 | +2.8% |
| 96760 | Kurtistown | $1,890 | -9.2% |
| 96764 | Laupahoehoe | $1,870 | -10.1% |
| 96771 | Mountain View | $1,960 | -5.8% |
| 96772 | Naalehu | $1,990 | -4.4% |
| 96773 | Ninole | $2,080 | -0.0% |
| 96774 | Ookala | $2,080 | -0.0% |
| 96776 | Paauilo | $2,010 | -3.4% |
| 96777 | Pahala | $1,990 | -4.4% |
| 96778 | Pahoa | $1,910 | -8.2% |
| 96780 | Papaaloa | $1,870 | -10.1% |
| 96781 | Papaikou | $2,130 | +2.4% |
| 96783 | Pepeekeo | $1,940 | -6.8% |
| 96785 | Volcano | $1,870 | -10.1% |
Nearby counties
Two-bedroom FMR, with how each compares to Hawaii.
Questions people ask
$2,081 a month for FY 2027, which runs October 1, 2026 through September 30, 2027. The other rates are $1,605 for a studio, $1,615 for one bedroom, $2,620 for three and $2,910 for four.
Tools for this county
Fair Market Rent lookup
Any ZIP code's Small Area FMR by bedroom count
Section 8 rent calculator
Payment standard and tenant share for a specific rent
What is Fair Market Rent?
How HUD calculates FMR and what it means for landlords
Rent affordability calculator
The income a household needs for a given rent
What does a rental in Hawaii actually go for?
HUD's number is one input. Search any address in Hawaii for a rent estimate built from nearby comps. Free to start, no card.
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