Thursday, March 28, 2024
Hawai'i Free Press

Current Articles | Archives

Tuesday, April 18, 2023
How Much Home You Can Buy for $200K in Hawaii
By Selected News Articles @ 5:56 AM :: 2574 Views :: Hawaii Statistics, Cost of Living

How Much Home You Can Buy for $200K in Hawaii

by Samuel Stebbins, 24/7 Wall St. via The Center Square

With home prices declining for over six months, some U.S. housing market conditions have shifted to favor buyers. Still, other conditions stack up against homebuyers, particularly mortgage rates. As inflation began to surge, the Federal Reserve raised interest rates nine times in 12 months in an attempt to stem rising prices. The cumulative 475 basis points Fed rate hike sent mortgage rates soaring, forcing many homebuyers to reevaluate their budgets and consider exactly how much house they can afford.

Since September 2022, the average interest rate on a 30-year fixed rate mortgage has been above 6%, the highest it has been in nearly a decade and a half. With historically high borrowing costs, many homebuyers are seeking more affordable markets. And in some parts of the country, a relatively modest housing budget goes a lot further than in others.

According to data from the Federal Reserve Bank of St. Louis, the median list price for a home in Hawaii was about $666 per square foot as of March 2023. Based on price per square foot, a homebuyer with a $200,000 budget can afford only a 300 square foot home (if there are any homes that small), the smallest of any state. A year earlier, the size of a $200,000 home in the state was 4.7% smaller than it is today.

Based on data from the U.S. Census Bureau's 2021 American Community Survey, the typical home in Hawaii is worth $722,500, compared to the national median home value of $281,400.

read … Full Report

Rank 50
State Hawaii
Approx. sq. ft. of a $200k home, March 2023 300
Median home list price per sq. ft., March 2023 ($) 666
Approx. 1 yr. change in size of a $200k home (%) 4.7
Median home value ($) 722,500

 

Links

TEXT "follow HawaiiFreePress" to 40404

Register to Vote

2aHawaii

808 Silent Majority

Aloha Pregnancy Care Center

AntiPlanner

Antonio Gramsci Reading List

A Place for Women in Waipio

Ballotpedia Hawaii

Broken Trust

Build More Hawaiian Homes Working Group

Christian Homeschoolers of Hawaii

Cliff Slater's Second Opinion

DVids Hawaii

FIRE

Fix Oahu!

Frontline: The Fixers

Genetic Literacy Project

Grassroot Institute

Habele.org

Hawaii Aquarium Fish Report

Hawaii Aviation Preservation Society

Hawaii Catholic TV

Hawaii Christian Coalition

Hawaii Cigar Association

Hawaii ConCon Info

Hawaii Debt Clock

Hawaii Defense Foundation

Hawaii Family Forum

Hawaii Farmers and Ranchers United

Hawaii Farmer's Daughter

Hawaii Federalist Society

Hawaii Federation of Republican Women

Hawaii History Blog

Hawaii Homeschool Association

Hawaii Jihadi Trial

Hawaii Legal News

Hawaii Legal Short-Term Rental Alliance

Hawaii Matters

Hawaii's Partnership for Appropriate & Compassionate Care

Hawaii Public Charter School Network

Hawaii Rifle Association

Hawaii Shippers Council

Hawaii Smokers Alliance

Hawaii State Data Lab

Hawaii Together

HIEC.Coop

HiFiCo

Hiram Fong Papers

Homeschool Legal Defense Hawaii

Honolulu Moms for Liberty

Honolulu Navy League

Honolulu Traffic

House Minority Blog

Imua TMT

Inouye-Kwock, NYT 1992

Inside the Nature Conservancy

Inverse Condemnation

Investigative Project on Terrorism

July 4 in Hawaii

Kakaako Cares

Keep Hawaii's Heroes

Land and Power in Hawaii

Legislative Committee Analysis Tool

Lessons in Firearm Education

Lingle Years

Managed Care Matters -- Hawaii

Malama Pregnancy Center of Maui

MentalIllnessPolicy.org

Military Home Educators' Network Oahu

Missile Defense Advocacy

MIS Veterans Hawaii

NAMI Hawaii

Natatorium.org

National Christian Foundation Hawaii

National Parents Org Hawaii

NFIB Hawaii News

No GMO Means No Aloha

Not Dead Yet, Hawaii

NRA-ILA Hawaii

Oahu Alternative Transport

Obookiah

OHA Lies

Opt Out Today

OurFutureHawaii.com

Patients Rights Council Hawaii

PEACE Hawaii

People vs Machine

Practical Policy Institute of Hawaii

Pritchett Cartoons

Pro-GMO Hawaii

P.U.E.O.

RailRipoff.com

Rental by Owner Awareness Assn

ReRoute the Rail

Research Institute for Hawaii USA

Rick Hamada Show

RJ Rummel

Robotics Organizing Committee

School Choice in Hawaii

SenatorFong.com

Sink the Jones Act

Statehood for Guam

Talking Tax

Tax Foundation of Hawaii

The Real Hanabusa

Time Out Honolulu

Trustee Akina KWO Columns

UCC Truths

US Tax Foundation Hawaii Info

VAREP Honolulu

Waagey.org

West Maui Taxpayers Association

What Natalie Thinks

Whole Life Hawaii

Yes2TMT