CALCMONEY // HOME AFFORDABILITY // HI // HILO
How much house can you afford in Hilo? Based on local median home prices, current HI mortgage rates, and Hilo property tax data.
$415,000
$2,469/mo
$105,832/yr
$219,895
Monthly housing costs of $2,469 represent 47.8% of Hilo's median gross monthly income ($5,167/mo). At 47.8%, median-income buyers in Hilo are significantly stretched — well above the 28% guideline. A larger down payment or higher income is required.
| Median Home Price | $415,000 |
| Down Payment (20%) | $83,000 |
| Loan Amount | $332,000 |
| Monthly PI Payment | $2,175 |
| Monthly Property Tax | $121 |
| Monthly Insurance Est. | $173 |
| Total Monthly PITI | $2,469 |
| Housing Cost % of Income | 47.8% |
| Required Income (28% rule) | $105,832/yr |
| Max Affordable Home | $219,895 |
$14,525
$3,202/mo
Hilo Home Affordability Quick Reference 2026
| Metric | Value | Notes |
|---|---|---|
| Median Home Price | $415,000 | Hilo city median |
| Down Payment (20%) | $83,000 | Conventional loan |
| Monthly PITI | $2,469 | 6.85% rate, 30yr fixed |
| Required Income (28% rule) | $105,832 | Annual gross |
| Max Affordable Home | $219,895 | Based on median income |
| FHA Down (3.5%) | $14,525 | Minimum FHA |
| Housing Cost % of Income | 47.8% | Median income: $62,000/yr |
| Property Tax Rate | 0.35% | $1,453/yr on median home |
Monthly PITI includes principal, interest, property tax, and homeowners insurance. Estimates only.
The median home price in Hilo is $415,000, with a local 30-year mortgage rate of 6.85%. A buyer putting 20% down carries a loan of $332,000, generating a monthly P&I payment of $2,175. Adding property taxes ($121/mo) and homeowners insurance ($173/mo) brings total monthly PITI to $2,469.
Hilo's property tax rate of 0.35% is among the lower rates in the country, which improves overall affordability by keeping total PITI closer to the principal and interest payment alone. On the Hilo median home, that is $121/month, or $1,453 per year.
Hawaii levies a state income tax, which affects take-home pay and effective buying power. High-income earners in Hilo should factor state tax liability into their overall housing budget — mortgage interest may be deductible on both federal and state returns.
Using the 28% rule, a household earning Hilo's median income of $62,000/year can afford up to $1,447/month in total housing costs. Based on Hilo's mortgage rate of 6.85% and property tax rate of 0.35%, that translates to a maximum affordable home price of approximately $219,895 with 20% down on a 30-year loan.
To afford the median Hilo home priced at $415,000, you need an annual gross income of approximately $105,832. Total monthly housing costs (principal and interest of $2,175, property taxes of $121, and insurance of $173) come to $2,469/month, which equals 28% of the required income.
At the median home price of $415,000 and median household income of $62,000, the total monthly housing cost of $2,469 represents 47.8% of gross monthly income. This is well above the standard 28% threshold, making Hilo a challenging market for buyers at median income.
A conventional 20% down payment on the median Hilo home of $415,000 is $83,000. An FHA loan requires just 3.5% down — $14,525 — but adds mortgage insurance of roughly $284/month, bringing total FHA payments to $3,202/month.
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