The 96818 zip code in Honolulu tops our ranking of the most affordable places to live in Hawaii.
Whether you're searching for affordable cities and towns to buy a home or the places with the lowest cost of living to rent, consider the following zip codes.
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Top 10 most affordable places to live in Hawaii
| Rank | City | Affordability Score | Median home value | Rental costs |
|---|---|---|---|---|
| 1 | Honolulu 🥇 | 100.0 | $530,511 | $2,566 |
| 2 | Waianae 🥈 | 93.4 | $572,757 | $2,152 |
| 3 | Aiea 🥉 | 85.5 | $831,966 | $2,421 |
| 4 | Mililani | 83.8 | $881,719 | $2,697 |
| 5 | Keaau | 83.0 | $460,972 | $2,183 |
| 6 | Pahoa | 80.2 | $288,835 | $2,789 |
| 7 | Ewa Beach | 80.2 | $830,536 | $3,348 |
| 8 | Pearl City | 79.5 | $945,872 | $2,480 |
| 9 | Waipahu | 78.6 | $869,109 | $2,697 |
| 10 | Hilo | 75.3 | $542,551 | $1,861 |
What these affordable cities and towns have in common
The 10 zip codes we ranked share a common trait: a low cost of living relative to the Hawaii median.
Median home values, rental costs, and property taxes generally sit below the state averages, while household incomes remain strong enough to keep home affordability ratios manageable. Below, we look at each market in detail.
1. Honolulu
Here's why the 96818 zip code in Honolulu is Hawaii's most affordable place to live.
🔎 Key data about Honolulu
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 100.0 | No. 1 | N/A |
| Median home value | $530,511[1] | No. 5 | -$357,928 |
| Home affordability ratio | 5.3 | No. 1 | -3.2 |
| Home value five-year change | 7.2%[2] | No. 3 | -16.3% |
| Home value one-year forecast | -0.8%[3] | No. 17 | -0.1% |
| Rental costs | $2,566[4] | No. 10 | -$223 |
| Rent affordability ratio | 2.55% | No. 11 | -0.1% |
| Median household income | $100,567[5] | No. 18 | -$4,440 |
| Property taxes | $1,960[6] | No. 14 | -$344 |
| Energy costs | $0.43 kWh[7] | No. 3 | -$0.01 |
Honolulu's 96818 zip code is the cheapest place to live in Hawaii, leading the 34 markets we evaluated.
The median home value is $530,511, making it the 5th-cheapest housing market in the state. Forecasts project a -0.8% change in home values in the next year. Rent in the zip code averages $2,566 per month, which is the 11th cheapest amount in Hawaii.
The median property tax for homeowners in Honolulu is $1,960 per household, the No. 14 ranked market in Hawaii.
Residents pay $0.43 per kWh of electricity, which ranks No. 3 among Hawaii markets.
📈 Thinking about buying in Hawaii? See our complete housing market outlook for the data, trends, and timing insights Hawaii buyers need to know.
2. Waianae
The 96792 zip code is the 2nd-cheapest place to live in Hawaii.
🔎 Key data about Waianae
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 93.4 | No. 2 | N/A |
| Median home value | $572,757[1] | No. 7 | -$315,681 |
| Home affordability ratio | 6.5 | No. 4 | -1.9 |
| Home value five-year change | 16.3%[2] | No. 8 | -7.2% |
| Home value one-year forecast | -1.1%[3] | No. 8 | -0.4% |
| Rental costs | $2,152[4] | No. 4 | -$637 |
| Rent affordability ratio | 2.46% | No. 9 | -0.2% |
| Median household income | $87,509[5] | No. 26 | -$17,498 |
| Property taxes | $1,221[6] | No. 3 | -$1,083 |
| Energy costs | $0.43 kWh[7] | No. 3 | -$0.01 |
Waianae's 96792 zip code has a median home value of $572,757, which is the 7th-cheapest housing market in Hawaii. You can rent for an average of $2,152 per month. That's the 4th-cheapest price in the state.
The average household income in the zip code is $87,509, which ranks 26th-highest in the state.
Homeowners in Waianae pay a median property tax of $1,221 per year, making it the 3rd-most affordable market in Hawaii.
Waianae ranks No. 3 among Hawaii energy markets. You'll pay $0.43 per kWh of electricity.
3. Aiea
The 3rd-least-expensive place to live in Hawaii is Aiea's 96701 zip code.
🔎 Key data about Aiea
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 85.5 | No. 3 | N/A |
| Median home value | $831,966[1] | No. 13 | -$56,473 |
| Home affordability ratio | 7.5 | No. 13 | -1.0 |
| Home value five-year change | 17.9%[2] | No. 9 | -5.6% |
| Home value one-year forecast | -1.0%[3] | No. 13 | -0.3% |
| Rental costs | $2,421[4] | No. 8 | -$369 |
| Rent affordability ratio | 2.18% | No. 3 | -0.5% |
| Median household income | $111,173[5] | No. 10 | $6,166 |
| Property taxes | $2,611[6] | No. 27 | $307 |
| Energy costs | $0.43 kWh[7] | No. 3 | -$0.01 |
The No. 13 cheapest housing market in Hawaii is Aiea's 96701 zip code, with a median home value of $831,966. Rents in the market average $2,421 per month, making it the 8th-most affordable rental market in the state.
The median property tax for households in Aiea is $2,611, which makes it the 27th-cheapest place in Hawaii. Aiea ranks No. 3 among Hawaii markets by energy costs. Residents pay $0.43 per kWh of electricity.
4. Mililani
The 96789 zip code in Mililani comes in at No. 4 on our list of the cheapest places to live in Hawaii.
🔎 Key data about Mililani
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 83.8 | No. 4 | N/A |
| Median home value | $881,719[1] | No. 18 | -$6,719 |
| Home affordability ratio | 6.9 | No. 9 | -1.5 |
| Home value five-year change | 25.7%[2] | No. 20 | 2.2% |
| Home value one-year forecast | -1.1%[3] | No. 8 | -0.4% |
| Rental costs | $2,697[4] | No. 12 | -$93 |
| Rent affordability ratio | 2.12% | No. 2 | -0.5% |
| Median household income | $127,066[5] | No. 6 | $22,059 |
| Property taxes | $2,587[6] | No. 25 | $283 |
| Energy costs | $0.43 kWh[7] | No. 3 | -$0.01 |
The No. 18 cheapest housing market in Hawaii is Mililani's 96789 zip code, where the median home value is $881,719. Renters here pay an average of $2,697 per month.
When it comes to energy costs, Mililani ranks 3rd among Hawaii markets. Residents pay $0.43 per kWh of electricity.
The median property tax for households in the zip code is $2,587, which makes it the 25th-cheapest market in Hawaii.
5. Keaau
The 96749 zip code in Keaau ranks No. 5 among Hawaii's most affordable places to live.
🔎 Key data about Keaau
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 83.0 | No. 5 | N/A |
| Median home value | $460,972[1] | No. 2 | -$427,467 |
| Home affordability ratio | 5.4 | No. 2 | -3.1 |
| Home value five-year change | 32.2%[2] | No. 23 | 8.7% |
| Home value one-year forecast | 0.5%[3] | No. 28 | 1.2% |
| Rental costs | $2,183[4] | No. 5 | -$606 |
| Rent affordability ratio | 2.56% | No. 12 | -0.1% |
| Median household income | $85,399[5] | No. 28 | -$19,608 |
| Property taxes | $1,260[6] | No. 4 | -$1,044 |
| Energy costs | $0.48 kWh[7] | No. 30 | $0.05 |
Keaau's 96749 zip code has a median home value of $460,972, the 2nd-cheapest housing market in the state. Forecasts project a 0.5% change in home values in the next year.
The median property tax per household in Keaau is $1,260. It's the 4th-cheapest market by tax rate in Hawaii.
6. Pahoa
The No. 6 most affordable city in Hawaii is the 96778 zip code.
🔎 Key data about Pahoa
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 80.2 | No. 6 | N/A |
| Median home value | $288,835[1] | No. 1 | -$599,604 |
| Home affordability ratio | 7.3 | No. 12 | -1.2 |
| Home value five-year change | 22.0%[2] | No. 18 | -1.5% |
| Home value one-year forecast | 0.5%[3] | No. 28 | 1.2% |
| Rental costs | $2,789[4] | No. 16 | $0 |
| Rent affordability ratio | 2.66% | No. 15 | 0.0% |
| Median household income | $39,750[5] | No. 34 | -$65,257 |
| Property taxes | $656[6] | No. 1 | -$1,648 |
| Energy costs | $0.48 kWh[7] | No. 30 | $0.05 |
The back half of our top 10 kicks off with Pahoa's 96778 zip code, which has the 1st-cheapest home values in Hawaii. The median home value is $288,835. Rents average $2,789 per month, making it the 16th-most affordable rental market in the state.
Residents pay $0.48 per kWh of electricity. It's the 30th-cheapest energy market.
7. Ewa Beach
Ewa Beach's 96706 zip code is the 7th-cheapest place to live in Hawaii.
🔎 Key data about Ewa Beach
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 80.2 | No. 7 | N/A |
| Median home value | $830,536[1] | No. 12 | -$57,903 |
| Home affordability ratio | 6.4 | No. 3 | -2.0 |
| Home value five-year change | 18.1%[2] | No. 11 | -5.4% |
| Home value one-year forecast | -1.0%[3] | No. 13 | -0.3% |
| Rental costs | $3,348[4] | No. 28 | $558 |
| Rent affordability ratio | 2.59% | No. 13 | -0.1% |
| Median household income | $129,456[5] | No. 5 | $24,449 |
| Property taxes | $2,234[6] | No. 19 | -$70 |
| Energy costs | $0.43 kWh[7] | No. 3 | -$0.01 |
You'll find the 12th-cheapest home values in Hawaii in Ewa Beach's 96706 zip code. The median value: $830,536. Renters in Ewa Beach pay an average of $3,348 per month.
Homeowners in Ewa Beach pay a median property tax of $2,234 per year, which is Hawaii's 19th-most affordable market.
The average household income is $129,456, which ranks 5th-highest in the state.
8. Pearl City
The 8th-least-expensive place to live in Hawaii is Pearl City's 96782 zip code.
🔎 Key data about Pearl City
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 79.5 | No. 8 | N/A |
| Median home value | $945,872[1] | No. 21 | $57,433 |
| Home affordability ratio | 8.7 | No. 20 | 0.2 |
| Home value five-year change | 19.6%[2] | No. 12 | -3.8% |
| Home value one-year forecast | -1.2%[3] | No. 6 | -0.5% |
| Rental costs | $2,480[4] | No. 9 | -$309 |
| Rent affordability ratio | 2.28% | No. 4 | -0.4% |
| Median household income | $108,669[5] | No. 11 | $3,662 |
| Property taxes | $2,383[6] | No. 22 | $79 |
| Energy costs | $0.43 kWh[7] | No. 3 | -$0.01 |
The 21st-cheapest housing market in Hawaii is Pearl City's 96782 zip code, with a median home value of $945,872. Renters pay an average of $2,480 per month, the No. 9 rental market in the state.
The median property tax for households in Pearl City is $2,383, which makes it the 22nd-cheapest place in Hawaii. The average household income of $108,669 ranks 11th.
9. Waipahu
Waipahu's 96797 zip code is one of Hawaii's most affordable towns, sneaking into the top ten of our rankings.
🔎 Key data about Waipahu
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 78.6 | No. 9 | N/A |
| Median home value | $869,109[1] | No. 17 | -$19,329 |
| Home affordability ratio | 7.6 | No. 14 | -0.9 |
| Home value five-year change | 22.0%[2] | No. 17 | -1.5% |
| Home value one-year forecast | -1.1%[3] | No. 8 | -0.4% |
| Rental costs | $2,697[4] | No. 13 | -$92 |
| Rent affordability ratio | 2.35% | No. 6 | -0.3% |
| Median household income | $114,654[5] | No. 8 | $9,647 |
| Property taxes | $2,309[6] | No. 20 | $5 |
| Energy costs | $0.43 kWh[7] | No. 3 | -$0.01 |
The 17th-cheapest housing market in Hawaii is Waipahu's 96797 zip code, where the median home value is $869,109. Renters pay an average of $2,697 per month. It's the state's 13th-cheapest rental market.
The median property tax for households within the zip code is $2,309, which makes it the 20th-cheapest property tax rate in Hawaii.
10. Hilo
The final spot on our list of the most affordable places to live in Hawaii goes to the 96720 zip code in Hilo.
🔎 Key data about Hilo
| Data point | Value | Rank (out of 34 markets) | Difference from median or average |
|---|---|---|---|
| Affordability Score | 75.3 | No. 10 | N/A |
| Median home value | $542,551[1] | No. 6 | -$345,888 |
| Home affordability ratio | 6.7 | No. 6 | -1.8 |
| Home value five-year change | 34.1%[2] | No. 25 | 10.6% |
| Home value one-year forecast | 0.5%[3] | No. 28 | 1.2% |
| Rental costs | $1,861[4] | No. 1 | -$928 |
| Rent affordability ratio | 2.30% | No. 5 | -0.4% |
| Median household income | $80,938[5] | No. 29 | -$24,069 |
| Property taxes | $1,327[6] | No. 5 | -$977 |
| Energy costs | $0.48 kWh[7] | No. 30 | $0.05 |
Rounding out our top 10 is Hilo's 96720 zip code, with the 6th-cheapest home values in Hawaii.
The median home value is $542,551. Rent in the market costs $1,861 per month on average.
The median property tax for households in Hilo is $1,327, which is the 5th-cheapest property tax rate in the state.
Hilo ranks No. 30 among Hawaii markets by energy costs, with households paying $0.48 per kWh of electricity.
What questions about these cities should I ask local agents?
Once you've found a town you're interested in, you'll want to ask a local agent for details our rankings can't capture. Start with these four questions:
- What neighborhoods inside this zip code have the best resale value?
- What's the rental market like right now?
- Are there local property tax exemptions or homestead programs you'd qualify for?
- What are the most common surprises buyers run into here?
🏡 Need a local agent? We can connect you with an expert who knows the market.
Frequently asked questions about the least expensive places to live in Hawaii
Based on Clever's Affordability Score, the 96818 zip code in Honolulu is the cheapest place to live in Hawaii.
The median home value is $530,511, and the median household income is $100,567, giving Honolulu a home affordability ratio of 5.3, meaning a typical home costs about that many times the median annual income.
See our Affordability Score methodology and the full ranking of the 10 cheapest places to live in Hawaii.
The median home value in Hawaii is $888,439.
See the rankings above for how individual cities compare to these state-wide figures.
Hawaii is currently a strong buyer's market, according to Clever's Market Heat Index.
The index reflects the balance between buyer demand and seller supply, which affects how much negotiating power buyers and sellers have in any given market.
Markets also vary by city, county, and neighborhood. It's always good to check with a local real estate agent to understand the dynamics of a given local market.
The median amount homeowners pay in property taxes in Hawaii is $2,304 per year.
Property taxes are a key part of the overall cost of living, and they vary significantly by location. The per-city tax figures in the rankings above show how each of the 10 cheapest places stacks up against the Hawaii median.
📍 The 10 cheapest places to live in your region
How we ranked the most affordable cities and towns in Hawaii
We evaluated 34 zip codes in Hawaii with a population over 10,000 on home values, rental costs, energy rates, property taxes, and five other affordability indicators. We then assigned each market an Affordability Score based on its weighted and combined rankings.
Our proprietary Affordability Score is a score on a scale of 0 (worst in state) to 100 (best in state) that estimates the affordability of a particular zip code. It takes into account these key data points for each zip code.
- Median home value: The median home value for each zip code comes from the Zillow Home Value Index. The lower the median home value relative to the median value in Hawaii, the higher our score on this component. We assign a weight of 13.0% to median home value.
- Home affordability ratio. The home affordability ratio is the typical median home value divided by the median household income in the zip code, which reveals the number of years of household income needed to afford a home in that zip code. A lower ratio is better because it means more households can afford a home. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 28.0% to the home affordability ratio.
- Home value five-year change: The home value five-year change is the amount that the median home value in the zip code has risen or fallen during the last five years. Our data comes from the Zillow Home Value Index. We assign a weight of 10.0% to the home value five-year change.
- Home value one-year forecast: The home value one-year forecast comes from Zillow Forecast data. It projects how much home values in the zip code are forecasted to change in the next year. We assign a weight of 8.0% to the home value one-year forecast.
- Rental costs. The rental costs are the observed rents in the zip code, sourced from the Zillow Observed Rent Index. The index includes "listed rents that fall into the 40th to 60th percentile range for all homes and apartments in a given region." We assign a weight of 7.0% to rental costs.
- Median household income: The inflation-adjusted median household income figures for the zip code comes from the U.S. Census American Community Survey. We assign a weight of 5.0% to median household income.
- Rent affordability ratio. The rent affordability ratio is the ratio of rental costs divided by median household income, which provides the percentage of household income needed to pay a typical month’s rent in the zip code. The data comes from the Zillow Observed Rent Index and the U.S. Census American Community Survey. We assign a weight of 17.0% to the rent affordability ratio.
- Property taxes: The property tax figures are the median real estate taxes paid in the zip code, sourced from the U.S. Census American Community Survey. The lower the property tax rate relative to the Hawaii average, the higher our score on this component. We assign a weight of 8.0% to property taxes.
- Energy costs: The energy costs are the costs of a kilowatt hour (kWh) of residential electricity in the zip code, sourced from the U.S. Department of Energy. The lower the cost of electricity relative to the Hawaii average, the higher our score on this component. We assign a weight of 4.0% to energy costs.
✍️ Editor’s note: Our Affordability Score identifies the most affordable places in a state by zip code. Often the zip code we identify will represent an entire city or portion of a city.
Occasionally the zip code we identify will encompass an area that includes one or more small towns. In these cases, the data we’ve gathered applies to the entire zip code, not just the single town we’re using to help identify the zip code's location.
If you’re looking to move to one of these affordable places, we recommend doing additional research to make sure the costs in the area — and the quality of life it offers — meet your specific needs.
Why you should trust us
Clever has earned home buyers’ and home sellers' trust with more than 4,000 5-star customer ratings on Trustpilot.
Our team is committed to making home purchasing more transparent by educating buyers and sellers through guides like this one. Our writers, editors, and industry-leading researchers strive to provide readers with the most up-to-date, accurate, and useful information.
Our research has been featured in The New York Times, Business Insider, Inman, Housing Wire, and many more publications.
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