Urban Honolulu, Hawaii Housing Market Prices
Urban Honolulu Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 14% below the Hawaii median$454,879
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Median rent 8% below the Hawaii median$1,822
Housing Market Overview
| Metric | Urban Honolulu | Hawaii Avg | US Average |
|---|---|---|---|
| Median Home Price | $454,879 | $529,214 | $248,835 |
| Price Trend (Annual %) | -3.0% | 1.5% | 7.5% |
| Median Gross Rent | $1,822 | $1,970 | $1,407 |
| Rent Trend (Annual %) | 3.8% | 3.9% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Urban Honolulu is about 14% lower than in Hawaii. Rent is about 8% lower than the Hawaii average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Home prices and rent are moving in opposite directions in Urban Honolulu: home prices fell about 3.0% a year while rent rose about 3.8% a year. That is an unusual pattern worth watching.
Median rent in Urban Honolulu rose about 37.3% between 2015 and 2024, from $1,327 to $1,822. Over the same span, rent in Hawaii rose about 37.0%.
Affordability
On average, housing unit costs 5.2 yearly household incomes in Urban Honolulu.
Buying the median-priced home in Urban Honolulu costs roughly 20.8 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Urban Honolulu. The price-to-rent ratio in Hawaii is about 22.4.
| Metric | Urban Honolulu | Hawaii Avg | US Average |
|---|---|---|---|
| Median Home Price | $454,879 | $529,214 | $248,835 |
| Median Household Income | $87,698 | $100,437 | $80,455 |
| Price-to-Income Ratio | 5.2 | 5.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Urban Honolulu fell about 16.3%, while median household income rose about 55.2% between 2009 and 2025 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Urban Honolulu | Hawaii Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 42.5% | 54.7% | 58.5% |
| Rental Rate | 44.5% | 32.1% | 31.2% |
| Vacancy Rate | 13.0% | 13.3% | 10.2% |
| Median Tenure (years) | 15.0 | 17.0 | 15.0 |
| Median Year Moved In | 2011 | 2009 | 2011 |
Urban Honolulu has a homeownership rate of 42.5%, lower than the Hawaii average of 54.7%. Its housing vacancy rate is 13.0%, compared with 13.3% in Hawaii.
Housing Stock
| Metric | Urban Honolulu | Hawaii Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.45 people | 2.84 people | 2.53 people |
| Median Structure Built Year | 1975 | 1982 | 1978 |
| Median Number of Rooms | 3.7 | 4.7 | 5.5 |
The typical housing unit in Urban Honolulu was built around 1975. On average, 2.4 people live in a home with about 3.7 rooms, staying for about 15.0 years on average.
Urban Honolulu, HI Housing Compared With Nearby Cities
How Urban Honolulu, HI compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Urban Honolulu, HI | 344,859 | $454,879 #2/2 | $1,822 #2/2 | 48.9% #2/2 |
| Kaneohe, HI | 33,643 | $659,633 | $2,226 | 75.9% |
Frequently Asked Questions
Common questions about the housing market in Urban Honolulu, Hawaii.
What is the median home price in Urban Honolulu, Hawaii?
The median home price in Urban Honolulu, Hawaii is $454,879, lower than the Hawaii average of $529,214.
What is the average home price in Urban Honolulu, Hawaii?
The typical home price in Urban Honolulu, Hawaii, reported as the median sale price, is $454,879. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Urban Honolulu, Hawaii?
The median gross rent in Urban Honolulu, Hawaii is $1,822 per month, lower than the Hawaii average of $1,970.
What was the median gross rent in Urban Honolulu in 2020?
In 2020, the median gross rent in Urban Honolulu, Hawaii was $1,518 per month.
What is the price-to-rent ratio in Urban Honolulu, Hawaii?
The price-to-rent ratio in Urban Honolulu, Hawaii is about 20.8, meaning it would take roughly 20.8 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Urban Honolulu.
Are home prices or rent rising faster in Urban Honolulu, Hawaii?
Home prices and rent are moving in opposite directions in Urban Honolulu: home prices fell about 3.0% a year while rent rose about 3.8% a year. That is an unusual pattern worth watching.
What is the homeownership rate in Urban Honolulu, Hawaii?
42.5% of households in Urban Honolulu, Hawaii own their home, lower than the Hawaii average of 54.7%.
What is the vacancy rate in Urban Honolulu, Hawaii?
The housing vacancy rate in Urban Honolulu, Hawaii is 13.0%, lower than the Hawaii average of 13.3%.
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