Study: Nearly a third of Oahu renters are forking over half of t - Hawaii News Now - KGMB and KHNL

Study: Nearly a third of Oahu renters are forking over half of their incomes for rent

(Image: Hawaii News Now/File) (Image: Hawaii News Now/File)
HONOLULU (HawaiiNewsNow) -

The affordable housing crisis is happening nationwide.

And a new Harvard University study shows just how hard the issue has hit Oahu.

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.

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