Salt Lake, Honolulu, HI—96815
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Salt Lake, Honolulu, HI
As of Oct '25, the median home price in Salt Lake, Honolulu, HI is $501,000, with a year-over-year change of -1.3%. This indicates that home prices in Salt Lake, Honolulu, HI are decreasing. According to Zillow, the 1-year price projection is -0.3%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $501,000 | -1.3% |
| Single Family | $624,000 | 0.3% |
| Condos | $479,000 | -1.8% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $462,000 | -3.1% |
2 Bed | $642,000 | -1.2% |
3 Bed | $1,248,000 | 0.0% |
4 Bed | $1,426,000 | -1.0% |
| 5 Bed | $1,612,000 | -0.1% |
% of Housing Stock
Rental Trends — Salt Lake, Honolulu, HI
As of July '25, Rentcast reports the average rent in Salt Lake, Honolulu, HI is $3,000, with a year-over-year rent change of -1.0%. Per bedroom, the median rent as of July '25 in Salt Lake, Honolulu, HI is studios: $2,020, 1-bedrooms: $2,640, 2-bedrooms: $4,100, 3-bedrooms: $4,420, 4-bedrooms: $7,120. The most common rental property sizes in Salt Lake, Honolulu, HI are 1-bedroom and studio, accounting for 34.6% and 34.5% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,600 | $3,000 |
| Studio Rent | $1,850 | $2,020 |
| 1 Bed Rent | $2,500 | $2,640 |
| 2 Bed Rent | $3,500 | $4,100 |
| 3 Bed Rent | $4,200 | $4,420 |
| 4 Bed Rent | $4,250 | $7,120 |
% of Rental Stock
Property Listings — Salt Lake, Honolulu, HI
As of Oct '25, Realtor.com reports that the median days on market for a home in Salt Lake, Honolulu, HI is 111. This is a increase of 32.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $539,000 | -3.0% |
Listing Count | 775 | 13.0% |
| Listings as % of Homes | 2.5% | 13.0% |
Days on Market | 111 | 32.0% |
Demographics — Salt Lake, Honolulu, HI
As of the latest ACS Survey released in 2023, Salt Lake, Honolulu, HI has a population of 27,100, which has increased by 7.4% over the past 5 years. Salt Lake, Honolulu, HI is a less popular place for families, as children make up 10.0% of the population. The area has a highly educated workforce, with 46.9% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 27,100 | 7.4% |
% Under 18 | 10.0% | -2.0% |
% Seniors | 25.3% | 25.9% |
% WFH | 11.8% | 73.5% |
% w/ College Degree | 46.9% | 3.8% |
As of the latest ACS Survey released in 2023, Salt Lake, Honolulu, HI is a predominantly asian area, with 41.1% of the population identifying as asian. The asian population has grown by 5.4% in the last 5 years. The second most common race or ethnicity in Salt Lake, Honolulu, HI is white, making up 34.9% of the population. Foreign-born residents account for 29.7% of the population in Salt Lake, Honolulu, HI, and this percentage has decreased by 1.0% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 34.9% | -7.7% |
% Black | 1.8% | -5.3% |
% Hispanic | 5.9% | 1.7% |
% Asian | 41.1% | 5.4% |
% Foreign Born | 29.7% | -1.0% |
Mortgage and Risk — Salt Lake, Honolulu, HI
According to HUD data as of 2023, there were 431 mortgage originations in Salt Lake, Honolulu, HI, of which 83.0% of loans were conventional mortgages. The average loan-to-value was 67.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Salt Lake, Honolulu, HI. Investor activity is high, as 20.0% of loans were by investors. 4.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 431 |
% Conventional Loans | 83.0% |
% Government Loans | 17.0% |
% Investor Loans | 20.0% |
% Second Loans | 16.0% |
% Cash Out Refinance | 4.0% |
Loan Activity
Rentals and Section 8 — Salt Lake, Honolulu, HI
As of 2024, the percent of homes in Salt Lake, Honolulu, HI under the Section 8 program is 6.0%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Salt Lake, Honolulu, HI, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 510 |
Total Units Section 8 | 510 |
% Rentals under Section 8 | 6.0% |
% Occupied Section 8 | 77.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$130 | $2,500 | $2,370 |
| 2 Bedroom | -$400 | $3,500 | $3,100 |
| 3 Bedroom | $140 | $4,200 | $4,340 |
| 4 Bedroom | $960 | $4,250 | $5,210 |
Affordability — Salt Lake, Honolulu, HI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.9 |
| Median Home Price | $501,000 |
| Median Household Income | $75,000 |