Cost of Living in Honolulu, HI

Housing

The housing market plays a significant role in determining the cost of living in Honolulu, HI.

• Housing Index: 186.5 / 100
• Median Home Price is: $727700
• Average Rent (2 BR Apartment): $2800 per month
• Average Rent (2 BR House): $2846 per month

When considering a move to Honolulu, HI, the housing landscape is characterized by a high housing index of 186.5. The median home price sits at a staggering 727700, indicating a competitive market for homebuyers. Renting is also costly, with average rents for a 2-bedroom apartment reaching 2800 and houses at 2846. It’s essential to weigh your budget against these figures, especially if you prioritize homeownership over renting. Typically, this type of market may offer positives such as strong investment potential and desirable neighborhoods, but be prepared for the financial commitment associated with such a high cost of living.

Utilities

The cost of utilities such as electricity, natural gas, and other services can significantly impact the overall cost of living in Honolulu, HI.

• Electricity Price: 42.45 USD (median by state)
• Natural Gas Price: $51.22 USD per Thousand Cubic Feet (median by state)
• Other Utilities (water, garbage, etc.): $400 per month

Living in Honolulu, HI could entail higher utility costs. Electricity costs sit at 42.45, while natural gas is priced at 51.22 per Thousand Cubic Feet—both aligning with state medians. Expect to budget about 400 monthly for other services like water and garbage. These utility expenses are vital considerations as they directly influence monthly living costs. Comparing these rates to other cities may help ascertain if Bethlehem is a financially viable option for your relocation.

Cost of Living Index

The cost of living index is a widely used metric to determine the relative affordability of cities and towns.

• Index score: 162.4

Median Income

The median income is an important factor to consider when evaluating the affordability of a city or town.

• Median Income: $85500

Educational and Social Amenities

Access to quality education, healthcare, and social services can significantly impact the overall quality of life in a city or town.

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Summary

When considering a move to Honolulu, HI, consider the following factors:

• Taxes: State income, property, and local income taxes can significantly impact your take-home pay.
• Job opportunities: The availability of jobs in your field can affect your quality of life.
• Cost of living: Housing costs, utilities, transportation, and other expenses should be considered when evaluating the affordability of a city or town.