"Honolulu Leads U.S. in 1-Bedroom Rent Hikes"
Originally Published 1 year ago — by CNBC
Honolulu, Hawaii, has experienced the highest year-over-year rent increase for one-bedroom apartments in the western U.S., with a 3.3% rise from $1,783 in 2023 to $1,841 in 2024. Despite a national trend of decreasing median rents, other western metro areas like Albuquerque, NM, and Seattle, WA, have also seen significant rent hikes. Factors contributing to Honolulu's high cost of living include its reliance on imported goods and high gas prices.