Housing | Rents

How many renters are there now compared to before the wildfires?

Half of respondents were renting before the fires, but the proportion has jumped to nearly 2 in 3 since then. Most of the increase comes from households who previously owned homes. However, a notable minority of new renters were previously living with family or friends or unhoused, suggesting that access to disaster assistance may have improved housing stability for some households. More concerning, it is also possible that the relative scarcity of larger units (see below) may have required larger households to split up. The proportion of fire-affected households living with family/friends or unhoused has nearly doubled since the wildfires: 15% of former homeowners and 9% of renters before the fires no longer have stable housing.

UHERO

Loading

How have the rental costs of fire impacted people changed compared to before the wildfires?

Survey participants report that rents have risen significantly since the fires for all unit sizes. For a 1-bedroom unit, rent increased by two-thirds (from $1200 before the fire to $2000 after the fire), and for a 2-bedroom unit, by 30% (from $1850 to $2400). The increase is most pronounced for larger units with an increase over 80% (from $1500 to $2750). Possible explanations include the relatively small sample size and higher competition for larger units. Prices may be pushed up because fewer large units are available for rent. That means larger families are most affected by rising rents due to housing shortages. Note that the reported numbers are median (typical) changes in rents overall for the same types of units, not comparisons of the same units before and after the fires.

UHERO

Loading

For most people, spiking rents are not met by rising incomes. More than half of people whose income has remained roughly the same as before the fires are now paying higher rents - and 45% of people who now have lower incomes have experienced rent increases. This means that these households will have to make cuts in other areas. The longer this situation persists, the more will the long-term financial and overall well-being of these households be affected.

UHERO

Loading

How have rental costs changed after accounting for changes in unit size?

Many fire-affected households face these rising costs despite moving to smaller units. While it is unsurprising that 70% of participants who now have more bedrooms are facing increased rental costs, more than half of the respondents who downsized to fewer bedrooms also reported rent increases. Additionally, more than a third of those who maintained the same number of bedrooms. Further analysis of reported unit size shows a marked drop in the number of households renting 3-bedroom or 4+-bedroom units compared to before the fires, and a corresponding jump in rentals of 1-bedroom units. Moreover, rent increases are substantial. Compared to before the fires, renters typically pay 43% for the same or fewer bedrooms. Normally, downsizing leads to lower expenses but the reduced rental availability appears to have offset any savings. Renters on Maui are caught in a housing vise: paying more for less.

UHERO

Loading