Hilo, HI
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Hilo Neighborhoods Since 2000




Hilo, HI Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Hilo Housing Market Information

With 45,393 people, 15,586 houses or apartments, and a median cost of homes of $344,220, real estate costs in Hilo are among some of the highest in the nation, although house prices here don't compare to real estate prices in the most expensive Hawaii communities.

Single-family detached homes are the single most common housing type in Hilo, accounting for 77.86% of the town's housing units. Other types of housing that are prevalent in Hilo include large apartment complexes or high rise apartments ( 14.93%), duplexes, homes converted to apartments or other small apartment buildings ( 5.26%), and a few row houses and other attached homes ( 1.59%).

The most prevalent building size and type in Hilo are three and four bedroom dwellings, chiefly found in single-family detached homes. The town has a mixture of owners and renters, with 61.70% owning and 38.30% renting.

There is a lot of housing in Hilo built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Hilo built between 1940-1969 ( 22.42%). A lesser amount of the housing stock also hails from between 2000 and later ( 9.57%). There's also some housing in Hilo built before 1939 ( 5.00%).

Vacant housing appears to be an issue in Hilo. Fully 13.11% of the housing stock is classified as vacant. Left unchecked, vacant Hilo homes and apartments can be a drag on the real estate market, holding Hilo real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Hilo Home Appreciation Rates

Hilo's appreciation rate notably has been below the national average for the last ten years. The average annual home appreciation rate in Hilo during the period has been just -0.92%, which is lower than 70% of US communities.

NeighborhoodScout's data show that during the latest twelve months, Hilo's appreciation rate, at 3.37%, has been at or slightly above the national average. In the latest quarter, Hilo's appreciation rate has been 0.46%, which annualizes to a rate of 1.86%.

Relative to Hawaii, our data show that Hilo's latest annual appreciation rate is lower than 60% of the other cities and towns in Hawaii.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Hilo differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Hilo - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Hilo real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$344,220

Hilo, HI HOME PRICES

Value Range
> $1,165,000 1.5
$874,001 - $1,165,000 2.5
$583,001 - $874,000 6.8
$466,001 - $583,000 11.6
$350,001 - $466,000 24.9
$233,001 - $350,000 26.9
$116,001 - $233,000 19.6
$58,001 - $116,000 3.9
$0 - $58,000 2.3

Very Low for HI
Very High for Nation

Value Relative to Nation Value Relative to State
12.6333059885152 88.4615384615385

Number Of Homes And Apartments:
15,586

Hilo Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
HI*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
106.05% 4.28% 2 10
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,712 / per month

Homeownership Rate

Homeownership
Owners 61.70
Renters 38.30
Vacant 13.11

Housing Market Details

 

Age of Homes

AGE OF Hilo HOMES
2000 or Newer 9.6
1970 - 1999 63.0
1940 - 1969 22.4
1939 or Older 5.0

Types of Homes

TYPE OF Hilo HOMES
Single-Family 77.9
Townhomes 1.6
Small Apt. Buildings 5.3
Apt. Complexes 14.9
Mobile Homes 0.4
Other 0.0

Home Size

SIZE OF Hilo HOMES
No Bedroom 4.88
1 Bedroom 8.73
2 Bedrooms 17.12
3 Bedrooms 50.53
4 Bedrooms 14.95
5 or more bedrooms 3.79