Hilo, HI—96720
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Hilo, HI
As of Oct '25, the median home price in Hilo, HI is $529,000, with a year-over-year change of -1.6%. This indicates that home prices in Hilo, HI are decreasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $529,000 | -1.6% |
| Single Family | $546,000 | -1.1% |
| Condos | $230,000 | -3.0% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $278,000 | -3.1% |
2 Bed | $428,000 | -1.6% |
3 Bed | $532,000 | -1.5% |
4 Bed | $645,000 | -0.9% |
| 5 Bed | $683,000 | 0.0% |
% of Housing Stock
Rental Trends — Hilo, HI
As of July '25, Rentcast reports the average rent in Hilo, HI is $2,190, with a year-over-year rent change of 12.3%. Per bedroom, the median rent as of July '25 in Hilo, HI is studios: $1,740, 1-bedrooms: $1,580, 2-bedrooms: $2,060, 3-bedrooms: $2,620, 4-bedrooms: $2,680. The most common rental property sizes in Hilo, HI are 3-bedroom and 2-bedroom, accounting for 37.3% and 32.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,000 | $2,190 |
| Studio Rent | $1,850 | $1,740 |
| 1 Bed Rent | $1,450 | $1,580 |
| 2 Bed Rent | $1,850 | $2,060 |
| 3 Bed Rent | $2,600 | $2,620 |
| 4 Bed Rent | $2,150 | $2,680 |
% of Rental Stock
Property Listings — Hilo, HI
As of Oct '25, Realtor.com reports that the median days on market for a home in Hilo, HI is 80. This is a increase of 14.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 14.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $597,000 | -9.0% |
Listing Count | 127 | 6.0% |
| Listings as % of Homes | 0.5% | 6.0% |
Days on Market | 80 | 14.0% |
Demographics — Hilo, HI
As of the latest ACS Survey released in 2023, Hilo, HI has a population of 51,000, which has increased by 3.2% over the past 5 years. Hilo, HI is a moderately popular place for families, as children make up 20.6% of the population. The area has a moderately educated workforce, with 33.7% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 51,000 | 3.2% |
% Under 18 | 20.6% | 1.5% |
% Seniors | 22.5% | 15.4% |
% WFH | 8.6% | 43.3% |
% w/ College Degree | 33.7% | 2.1% |
As of the latest ACS Survey released in 2023, Hilo, HI is a predominantly asian area, with 31.2% of the population identifying as asian. The asian population has shrunk by 2.8% in the last 5 years. The second most common race or ethnicity in Hilo, HI is white, making up 16.7% of the population. Foreign-born residents account for 9.9% of the population in Hilo, HI, and this percentage has increased by 19.3% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 16.7% | 0.0% |
% Black | 0.9% | 28.6% |
% Hispanic | 11.3% | 6.6% |
% Asian | 31.2% | -2.8% |
% Foreign Born | 9.9% | 19.3% |
Mortgage and Risk — Hilo, HI
According to HUD data as of 2023, there were 350 mortgage originations in Hilo, HI, of which 80.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Hilo, HI. Investor activity is low, as 5.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 350 |
% Conventional Loans | 80.0% |
% Government Loans | 20.0% |
% Investor Loans | 5.0% |
% Second Loans | 2.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Hilo, HI
Hilo, HI lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 1,580 |
Total Units Section 8 | 1,242 |
% Rentals under Section 8 | N/A |
% Occupied Section 8 | 96.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $100 | $1,450 | $1,550 |
| 2 Bedroom | $150 | $1,850 | $2,000 |
| 3 Bedroom | $10 | $2,600 | $2,610 |
| 4 Bedroom | $760 | $2,150 | $2,910 |
Affordability — Hilo, HI
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 6.6 |
| Median Home Price | $529,000 |
| Median Household Income | $78,500 |