Cost of Living in Honomu, HI

With a cost of living index of 118, Honomu, HI is a notably expensive place to live. Living here is 18% more expensive than the national average and 39% below the Hawaii state average of 157. Honomu is a small community of 370 residents.

Housing costs are the biggest factor in Honomu's cost of living. The median monthly rent is $1,450 (10% above the US median of $1,319), and the median home value sits at $433,800 (42% above the national median of $304,900). At current prices, the median home costs roughly 6.3x the median household income — a challenging ratio that puts homeownership out of reach for many residents.

The median household income in Honomu is $69,063, which is 8% lower than the national median of $75,149. Residents spend roughly 25% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.