Waimalu appreciation rates and housing market information

Waimalu housing market information

With a population of 29,504, 11,059 total housing units (homes and apartments), and a median house value of $635,500, real estate costs in Waimalu 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.

large apartment complexes or high rise apartments are the single most common housing type in Waimalu, accounting for 42.77% of the town's housing units. Other types of housing that are prevalent in Waimalu include single-family detached homes (35.87%), duplexes, homes converted to apartments, or other small apartment buildings (11.24%), and a few row houses and other attached homes (10.04%). This particular housing mix is relatively uncommon and characteristic of towns that are compact and walkable, and which often have a lively downtown.

The most prevalent building size and type in Waimalu are three and four bedroom units, chiefly found in large apartment complexes or high rise apartments. The town has a mixture of owners and renters, with 58.79% owning, and 36.80% renting.

There is a lot of housing in Waimalu built from 1970-1994, 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 Waimalu built from 1940-1969 (17.20%). A lesser amount of the housing stock also hails from 1995 and later (2.37%), and some were built from 1939 and earlier (2.37%).

Waimalu home appreciation rates

In the last 10 years, Waimalu has experienced some of the highest home appreciation rates of any community in the nation. Waimalu real estate appreciated 127.46% over the last ten years, which is an average annual home appreciation rate of 12.74%, putting Waimalu in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Waimalu definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Waimalu appreciation rates have trailed the rest of the nation. In the last twelve months, Waimalu's appreciation rate has been -0.11%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Waimalu were at -1.18%, which equates to an annual appreciation rate of -4.72%.

Relative to Hawaii, our data show that Waimalu's latest annual appreciation rate is higher than 58% 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 Waimalu differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Waimalu - 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 1990, to assist you in making the best Waimalu real estate investment or home purchase decisions.