The story of this market
The typical home in ZIP 96720 sells for about $560,000, or $350 per square foot.
Prices are down 10.3% from a year ago, which gives buyers more room to negotiate. Homes take about 65 days to sell, which is slow. HUD's fair market rent for a two-bedroom is $2,674 a month.
ZIP 96720 — Hilo
The Hilo housing market is currently experiencing a period of price stabilization following recent volatility. Demand remains steady, though high insurance costs and limited inventory continue to influence market activity.
This ZIP is well-suited for families and local professionals seeking a balance of natural beauty and proximity to Hilo's essential services.
Median prices moved down 10.3% year over year.
Homes spend a median of 65 days on market with 4.4 months of supply — a balanced-paced market.
12% of listings have cut prices · homes sell at 97.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 4.5% · poverty 14.0% — a stable, low-distress profile.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 6.6%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 5.8%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 96720, Hawaii County, HI
Crime rates in Hilo are generally consistent with regional averages for Hawaii County, with property crime being the most frequently reported issue.
Public schools in the Hilo area are part of the Hawaii Department of Education, with performance ratings varying significantly by individual campus.
The area faces significant natural hazard risks, including volcanic activity, high rainfall, and potential tsunami exposure along coastal zones.
Economic momentum is driven by government, education, and healthcare sectors, with limited large-scale commercial development currently underway.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Hawaii) — Real Property Tax: Tax is calculated by applying county-specific tax rates to the assessed value of the property. The formula is (Assessed Value - Exemptions) * Tax Rate. Exemptions include homestead exemptions for owner-occupants, which vary by county.
Commuting is primarily car-dependent, with most residents traveling to Hilo's central business district or nearby government offices.
The area features extensive access to outdoor amenities, including Wailuku River State Park, botanical gardens, and proximity to Hawaii Volcanoes National Park.
The rental market is tight with high demand, driven by limited new inventory and a significant presence of long-term residents.
The economy is anchored by the University of Hawaii at Hilo, state government offices, and the healthcare sector.
Transportation relies heavily on the highway network, with limited public transit options available through the Hele-On bus system.
Development is focused on infrastructure maintenance and small-scale residential growth within existing urban boundaries.
The Hawaii County Real Property Tax Division manages assessments based on market value and land use classification.
Parcels are subject to county-level property taxes and various state-mandated utility and environmental regulations.
Property insurance premiums are elevated due to high exposure to volcanic, flood, and wind-related hazards.
Data retrieved from Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
- Escape Hilo59.9 mi
- Countryside Cafe (Kea'au Location)4.514 mi
- WSW Steakhouse Restaurant | Whiskey Steak Wine3.911.3 mi
- Palace Theater4.710 mi
- Lam's Garden4.310 mi
- ʻAkaka Falls State Park4.611.7 mi
- Hawai‘i Tropical Botanical Garden4.811.9 mi
- Kaūmana Caves4.77.1 mi
- Panaewa Rainforest Zoo and Gardens4.611.1 mi
- Liliʻuokalani Gardens4.711.2 mi
- Nāhuku Lava Tube4.619.9 mi
- Imiloa Astronomy Center4.59.7 mi
- Pacific Tsunami Museum4.410 mi
- Lyman Museum4.89.7 mi
- Mokupāpapa Discovery Center4.710 mi
- ʻAkaka Falls State Park4.611.7 mi
- Hawai‘i Tropical Botanical Garden4.811.9 mi
- Kaūmana Caves4.77.1 mi
- Liliʻuokalani Gardens4.711.2 mi
- Wailuku River State Park4.68.5 mi
- Hilo Municipal Golf Course4.210.8 mi
- Hilo Farmer's Market4.410.1 mi
- Safeway4.311.5 mi
- KTA Super Stores - Puainako4.411.2 mi
- Suisan Fish Market4.611 mi
- Island Naturals Market & Deli4.410.6 mi
- Hilo International Airport4.412.7 mi
- Blue Hawaiian Helicopters4.812.7 mi
Theme parks, venues, golf, airports, museums, water and shopping across the area from Google Maps, ranked by popularity within the radius shown.
Features Rainbow Falls and Boiling Pots.
Major regional anchor institution.
Popular local market for produce and crafts.
Key-figure check: no independent anchor retained yet — first-researched cycles establish the anchor baseline this pass.