The study says the median income for renters in Honolulu is $57,500.
But the median monthly rent is over $1,500.
The reports also says that more than half of Honolulu renters are cost-burdened.
That means they spend more than 30 percent of their income on housing.
And almost a third — or more than 40,000 people — have "severe cost burdens," spending more than 50 percent of what they make to pay for a roof over their heads.
Researchers say there are alarming trends in metro areas across the country that suggest a growing inability to supply housing that is affordable for middle- and working-class renters — let alone those with very low incomes
On top of it, they say rental assistance is becoming harder to access for very-low-income households.
Experts say addressing these challenges — particularly expanding the availability of low- and moderate-cost housing options — will require that all levels of government ensure that the regulatory environment does not stifle innovation.