Mortgage payment estimates, closing cost breakdowns, and homebuying data for Hilo, Hawaii.
Median Home Price
$485K
Population
46K
Avg Monthly Rent
$1,750
Property Tax Rate
0.28% *
* Property tax shown is the Hawaii state average effective rate. Actual rates vary by county, city, and school district — check with your local assessor for exact rates in Hilo.
Hilo vs Hawaii Median
The median home price in Hilo is $485,000, which is 42% below the Hawaii state median of $830,000.
Mortgage Calculator — Hilo, HI
Pre-filled with Hilo median home price and Hawaii tax/insurance rates. Adjust for your property.
Three down payment scenarios for a $485K home using Hawaii's 0.28% tax rate and $1,200/yr insurance.
5% Down
$3,394/mo
Down: $24,250
Loan: $461K
P&I: $2,912
Tax: $113
Insurance: $100
PMI: $269
10% Down
$3,227/mo
Down: $48,500
Loan: $437K
P&I: $2,759
Tax: $113
Insurance: $100
PMI: $255
20% Down (No PMI)
$2,666/mo
Down: $97,000
Loan: $388K
P&I: $2,452
Tax: $113
Insurance: $100
Income needed (28% rule): $114K/year with 20% down, $138K/year with 10% down.
Rent vs Buy in Hilo
Rent
$1,750/mo
vs
Buy (10% down)
$3,227/mo
Price-to-rent ratio: 23.1 — At a ratio above 20, renting may be more economical in Hilo for shorter stays. Buying costs $1,477 more per month than renting, and it typically takes 5-7 years to break even on the transaction costs of buying.
The median home price in Hilo is $485,000, 42% below the Hawaii state median of $830,000. With a population of 45,703, Hilo is a smaller market where home prices tend to be more accessible than in many parts of Hawaii.
Property taxes in Hawaii average 0.28% annually. This low property tax rate is a significant advantage for Hilo buyers, keeping your monthly costs well below what you'd pay in higher-tax states. Homeowners insurance in Hawaii runs approximately $1,200 per year. This is within the normal range nationally.
Average rent in Hilo is $1,750/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.
Hilo is a higher-cost market. At $485K median, buyers need significant savings or strong income. Down payment assistance through Hawaii's HHFDC Hula Mae Program program becomes especially important.