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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 17,697 people, 5,934 houses or apartments, and a median cost of homes of $977,585, real estate costs in Wailuku 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 Wailuku, accounting for 58.12% of the town's housing units. Other types of housing that are prevalent in Wailuku include large apartment complexes or high rise apartments ( 24.34%), row houses and other attached homes ( 10.97%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 5.79%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wailuku. Owner-occupied housing accounts for 68.16% of Wailuku's homes, and 54.60% have either three or four bedrooms, which is average sized relative to America.
There is a lot of housing in Wailuku built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Wailuku built between 2000 and later ( 27.64%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.33%). There's also some housing in Wailuku built before 1939 ( 5.84%).
Vacant housing appears to be an issue in Wailuku. Fully 10.73% of the housing stock is classified as vacant. Left unchecked, vacant Wailuku homes and apartments can be a drag on the real estate market, holding Wailuku real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.
In the last 10 years, Wailuku has experienced some of the highest home appreciation rates of any community in the nation. Wailuku real estate appreciated 115.06% over the last ten years, which is an average annual home appreciation rate of 7.96%, putting Wailuku in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Wailuku definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
NeighborhoodScout's data show that during the latest twelve months, Wailuku's appreciation rate, at 5.50%, has been at or slightly above the national average. In the latest quarter, Wailuku's appreciation rate has been -5.56%, which annualizes to a rate of -20.46%.
Notably, Wailuku's appreciation rate in the latest quarter is one of the lowest in America.
Relative to Hawaii, our data show that Wailuku's latest annual appreciation rate is higher than 80% 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 Wailuku differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wailuku - 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 Wailuku real estate investment or home purchase decisions.
$977,585
for Hawaii
for nation
5,934
$2,847 / per month