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The most recent Fair Market Rents are more difficult to interpret. As evidenced in the figures
<br /> below, FMRs for all counties rose steadily from 2003 to 2008. Since 2008, however, annual
<br /> increases in FMRs have been slight. It is even more puzzling to note that, between 2010 and
<br /> 2011, the Honolulu FMR went down by two dollars ($2).
<br /> Figure 6: Fair Market Rent, City& County of Honolulu, 2000-2011
<br /> $3,000
<br /> -Efficiency
<br /> $2,500 -One-BR
<br /> -Two-BR
<br /> -Three-BR
<br /> $2,000 -Four-BR
<br /> $1,500
<br /> $1,000
<br /> $500
<br /> $0
<br /> 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011
<br /> Source: U.S. Department of Housing and Urban Development, Fair Market Rents,2000-2011
<br /> Table 5. Fair Market Rent, City & County of Honolulu, 2000-2011
<br /> Year Honolulu
<br /> Efficient One-Br Two-Br Three Br Four Br+
<br /> 2000 $604 $723 $851 $1,150 $1,244
<br /> 2001 $595 $713 $839 $1,134 $1,226
<br /> 2002 $596 $714 $840 $1,135 $1,227
<br /> 2003 $599 $717 $844 $1,142 $1,235
<br /> 2004 $642 $769 $905 $1,225 $1,325
<br /> 2005 $760 $891 $1,087 $1,577 $1,765
<br /> 2006 $836 $997 $1,205 $1,757 $2,069
<br /> 2007 $888 $1,058 $1,279 $1,865 $2,196
<br /> 2008 $1,131 $1,348 $1,630 $2,377 $2,729
<br /> 2009 $1,140 $1,337 $1,631 $2,367 $2,649
<br /> 2010 $1,191 $1,397 $1,704 $2,473 $2,767
<br /> 2011 1 $1,190 $1,396 $1,702 $2,470 $2,764
<br /> Source: U.S. Department of Housing and Urban Development, Fair Market Rents, 2000-2011
<br /> Hawari Housing Planning Study,2011: Rental Housing Page 9
<br /> 0 SMS, Inc. October,2011
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