Waipahu, HI Real Estate Market
Analytics built by: Location, Inc.
Raw data sources: American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.
Date(s) & Update Frequency:
- Home Values, Rents: Reflects Q2 2024. Updated quarterly.
- Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
Waipahu, HI Housing Market Trends
With a population of 43,485, 8,782 total housing units (homes and apartments), and a median house value of $1,041,946, real estate costs in Waipahu are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Hawaii communities.
Single-family detached homes are the single most common housing type in Waipahu, accounting for 47.43% of the town's housing units. Other types of housing that are prevalent in Waipahu include large apartment complexes or high rise apartments ( 31.43%), row houses and other attached homes ( 11.87%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.90%).
The most prevalent building size and type in Waipahu are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 55.71% owning and 44.29% renting.
At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Waipahu's housing was primarily built during this period, from the '40s through the '60s. A full 46.76% of the town's housing hails from this era. Other housing ages represented in Waipahu include homes built between 1970-1999 ( 38.79%) and housing constructed between 2000 and later ( 13.17%). There's also some housing in Waipahu built before 1939 ( 1.28%).
Waipahu Home Appreciation Rates
Real estate appreciation rates in Waipahu's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 6.46% during the period.
Appreciation rates are so strong in Waipahu that despite a nationwide downturn in the housing market, Waipahu real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Waipahu appreciation rates continue to be some of the highest in America, at 10.51%, which is higher than appreciation rates in 89.43% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Waipahu. Waipahu appreciation rates in the latest quarter were at -0.11%, which equates to an annual appreciation rate of -0.45%.
Notably, Waipahu's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Hawaii, our data show that Waipahu's latest annual appreciation rate is higher than 60% of the other cities and towns in Hawaii.
One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Waipahu differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Waipahu - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Waipahu real estate investment or home purchase decisions.
Median Home Value
$1,041,946
Average
for Hawaii
Very High
for nation
Number of Homes And Apartments:
8,782
HI
America
2024 Q1 - 2024 Q2
2023 Q2 - 2024 Q2
2022 Q2 - 2024 Q2
2019 Q2 - 2024 Q2
2014 Q2 - 2024 Q2
2000 Q1 - 2024 Q2
Average Market Rent:
$2,110 / per month