Increased Military Housing Allowances

By
Services for Real Estate Pros with RE/MAX Kai Lani

The military just got a 7.3 per-cent increase in their housing allowance.   This should have a significant impact on rents in Hawaii, and to a lesser extent on home sales as we have such a large number of military families living in Hawaii, particularly Oahu.   These new rates go into effect on January 1.  I will be interested in seeing how this will impact things in Hawaii.  

For enlisted personnel, this is an increase of about $83 per month. A soldier, sailor, marine or airman in the grade E-4 with dependents living in Hawaii will receive about $1,985 per month or about $60 more than this year. Non-Commissioned Officers in the grade E-8 with a family will receive about $2,650 a month.

While this is a necessary step in assuring that our military members can find suitable homes to live in while they are stationed in Hawaii, it will tend to make it increasingly more difficult for our local population to find affordable rentals.  Affordable housing in Hawaii is a real problem for our local population.   NARPM Logo

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Rainmaker
342,924
Kim Peasley-Parker
AgentOwned Realty, Heritage Group, Inc. - Sumter, SC
I see the same issue is South Carolina.  We are now finding that due to appreciation over the past few years, many airmen are outpriced from areas that they could afford a couple of year ago. 
Dec 15, 2007 07:20 AM #1
Rainer
17,201
Jerry Bangerter
RE/MAX Kai Lani - Honolulu, HI

The military generally does a pretty good job of evaluating market rental prices and adjusting the housing allowance!    Sometimes it's a little slow.   We indeed live in crazy times.  I really don't know where things will go.   Jerry

Dec 15, 2007 09:02 AM #2
Rainmaker
661,452
Randy Prothero
eXp Realty - Mililani, HI
Hawaii REALTOR, (808) 384-5645

I see they raised some and lowered some for 2008 here.  I could not see and reason why they lowered the ones they did.

Dec 15, 2007 05:26 PM #3
Rainer
17,201
Jerry Bangerter
RE/MAX Kai Lani - Honolulu, HI
Randy, As usual, bureaucrats can't seem to get thing totally right.   Unlike the free market, the best we can hope for is that they get close, and in general, they will have helped the military be able to afford a home in paradise.   Jerry
Dec 16, 2007 10:52 AM #4
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Rainer
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Jerry Bangerter

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