HONOLULU (KHON2) — Last year’s home value appreciation growth was higher than median wages in 25 out of 38 major metros, including Honolulu, according to a new study by Zillow.

The study revealed that home value appreciation reached higher than $100,000 in 11 of them.

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Appreciation on the typical home ranged from the equivalent of an oral surgeon’s income in San Jose to that of a food preparation worker in Philadelphia,” the study said.

Though San Jose has the highest median salary at $93,000, the home value grew by $229,277 in 2021.

Expensive coastal markets in Hawaii and California saw home value growth out-earn incomes by the largest amounts. In Honolulu, the highest median pre-tax salary last year was $51,000. The typical home value grew by $138,254, which is nearly what operations specialties managers earn in the area.

Meanwhile, annual rent payments grew by more than $3,000 and upward of 25% in popular areas cities like Miami, Phoenix and Las Vegas. In Miami, locking in a one-year lease was $7,104 more at the end of the year versus the start of the year. In Honolulu, it was $2,820 more, a major hit to the household budget.

It’s money that can’t be saved toward a down payment, which is often the biggest struggle for first-time buyers. Last year, down payments rose by more than $10,000 for a typical 30-year fixed mortgage.

As homeowners watch their assets multiply, the gap that separates renters from owning a home continues to widen — and the housing shortage is expected to continue to push rent up in 2022.

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This study used data from the current Population Survey Annual Social and Economic Supplement and May 2020 National Occupational Employment and Wage Estimates.