Home Values in Hilo, Hawaii — 2026 Market Report
Updated March 2026 | Buyer's Market | +2.6% YoY
The median home value in Hilo, Hawaii is $455,000 as of March 2026, which is above the national median of $400,000. Home values in Hilo have increased by 2.6% over the past year and 13.7% over the last five years. With a population of 45,703 and a median household income of $55,250, the price-to-income ratio stands at 8.2x, making Hilo affordable for the average household.
Hilo Housing Market Conditions
| Metric | Hilo | National Avg |
|---|---|---|
| Median Home Value | $455,000 | $400,000 |
| YoY Appreciation | +2.6% | +3.8% |
| 5-Year Appreciation | +13.7% | +22.4% |
| Price per Sq Ft | $362 | $222 |
| Days on Market | 57 days | 45 days |
| Months of Supply | 5.1 | 3.5 |
| List-to-Sale Ratio | 99.6% | 98.5% |
| Monthly Homes Sold | 31 | — |
| Foreclosure Rate | 0.73% | 0.3% |
Home Value Trends in Hilo
A homeowner who purchased at the median price of $400,176 five years ago in Hilo would have gained approximately $54,824 in equity, representing a 13.7% return on investment. Over the past year alone, the typical homeowner gained $11,530 in home equity.
Affordability in Hilo, HI
With a median household income of $55,250 and a median home price of $455,000, the price-to-income ratio in Hilo is 8.2x. A ratio below 3x is generally considered affordable, while above 5x indicates significant affordability challenges. The average monthly rent of $3,023 compared to estimated monthly ownership costs of $2,268 gives a rent-vs-buy ratio of 0.75. In Hilo, buying is currently competitive with renting when factoring in equity accumulation.
Property Taxes in Hilo
The effective property tax rate in Hawaii is 0.28%. On a home valued at $455,000, the estimated annual property tax bill is $1,274, or approximately $106/month. Property taxes are an important factor in the total cost of homeownership and can significantly impact affordability. The cost of living index in Hilo is 155.5 (100 = national average), indicating living costs are above the national average.
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Open Mortgage CalculatorFrequently Asked Questions
What is the median home value in Hilo, HI?
The median home value in Hilo, Hawaii is $455,000 as of March 2026. Home values have changed +2.6% over the past year, with a 5-year appreciation of 13.7%.
Is Hilo a buyer's or seller's market?
Hilo is currently a buyer's market with 5.1 months of housing supply. Homes spend an average of 57 days on market, and the list-to-sale price ratio is 99.6%. Higher inventory gives buyers more negotiating power.
Are home values going up in Hilo?
Yes, home values in Hilo have increased by 2.6% over the past year. The 5-year appreciation rate is 13.7%, meaning a home worth $400,176 five years ago is now worth $455,000.
Is it better to rent or buy in Hilo?
The average monthly rent in Hilo is $3,023, while estimated monthly homeownership costs are approximately $2,268. The price-to-rent ratio is 12.5. Based on current conditions, buying may be more cost-effective than renting in this market.
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Disclaimer: Home value data for Hilo, Hawaii is based on publicly available market data and estimates. Actual home values may vary based on property condition, location within the city, and current market conditions. Data is updated regularly but may not reflect the most recent transactions. Last updated: March 2026.