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The high cost of living in Hawaii, particularly in housing, significantly exceeds the national average. Despite a median household income of $88,005, many residents struggle to afford housing within their budget.
More than 48% of people in Hawaii live below the threshold of a household income exceeding $72,000, making housing affordability a pressing issue. This leads to residents sharing housing to manage the financial burden, exacerbating overcrowding and affordability challenges.
To address these housing challenges, efforts must be made to increase affordable housing options, improve income levels and promote economic opportunities for all residents. The proposed rules on Fair Lending, Fair Housing, and Equitable Housing Finance Plans by the Federal Housing Finance Agency, supported by Prosperity Now, offer a significant step toward tackling housing issues and establishing an equitable housing ecosystem for low-income families and marginalized communities in Hawaii.
James Faumuina
Kapolei
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