Oahu Rent Highest in the Nation
April 15th, 2008 categories: Buying Honolulu Real Estate
Todays article in the Honolulu Star Bulletin quotes an affordable housing advocacy group’s recent report that says Hawaii is the most expensive state for renters. It goes on to say that Oahu has the highest rent in the state (an average of $1,630 per month for a 2 bedroom).
“In Hawaii, where a little less than half of the state’s roughly 403,000 households rent, rents have climbed about 70 percent since 2000, according to the report.”
If you own rentals, you may want to check to see if your rental rates are at the current market.
If you are an investor, take a look at buying in Honolulu. Even with higher values you may be able to make the cash flow work because of our average monthly rental.
If you rent, with current interest rates, you may be able to buy. After the tax benefits of the mortgage interest deduction, you may end up paying less per month and not have to deal with a landlord.
