Friday, August 31, 2012

Hawaii’s extraordinary “average” home

The US Census and other data collecting organizations have ranked the average Hawaii home the highest of all states in the US in numerous categories including cost, size of household, and ethnicity of home dwellers. The average Hawaii home is anything but average when compared to homes on the mainland.

Homes in the state of Hawaii have the highest average value in the US with an average price of $537,400 in 2010.  The second highest ranked state was California with an average home price of $458,500.  Despite being the highest priced, the average Hawaii home is almost half the size of an average mainland home at 1300 square feet versus 2700 square feet.   The cost difference of an average home in Hawaii and an average home in Mississippi, which has the lowest priced homes at $96,000 on average, is over 559% for a home that is half the size.  When comparing the cost per square foot of a house, Hawaii is in a league of its own at about $413 a square foot, on average.

Hawaii also tops the list for the average size of household in the US, which means on average more people are living in a Hawaii home, even though they are half the size.  The high cost of rentals and homes in Hawaii makes it common for extended families to live under one roof.  We notice that people without family in Hawaii tend to have roommates to help cover the high cost of rent. 

The people that dwell in the average home in Hawaii are also unique as compared to the mainland.  Close to 50% of Hawaii residents are Asian or Polynesian and another 25% of the residents are two or more races.  Hawaii is the only state in the US where less than 25% of the residents are white and whites are a minority.

One of the things we find refreshing about life in Hawaii is how different living here is from the mainland. People in Hawaii have a unique way of doing things and there is no other place like it in the US.  The high cost of living in Hawaii ensures that everyone living on the islands really wants to be here.

1 comment:

Eliza Thorne said...

Even if Hawaii is the most expensive place in the world to live, it is still absolutely worth the price, considering the part of the world you are in, the views/sights, and the culture! The only thing that really makes it hard living there is the cost of living. To contract someone for hawaii roofing, it is close to double what someone would pay on the mainland! And that goes for just about everything that is not produced on the mainland!