Cost of Living in Hilo, HI

With a cost of living index of 117, Hilo, HI is a notably expensive place to live. Living here is 17% more expensive than the national average and 41% below the Hawaii state average of 157. With a population of 48,223, Hilo is a mid-sized community that balances access to services with a more manageable cost of living compared to larger metros.

Housing costs are the biggest factor in Hilo's cost of living. The median monthly rent is $1,347 (2% above the US median of $1,319), and the median home value sits at $455,100 (49% above the national median of $304,900). At current prices, the median home costs roughly 5.8x the median household income — a stretch for many buyers, though not uncommon in today's market.

The median household income in Hilo is $78,713, which is 5% higher than the national median of $75,149. Residents spend roughly 21% of household income on rent. This is a comfortable ratio, well below the 30% threshold that financial experts recommend as a maximum.

Data sources: US Census Bureau (ACS 2023), Zillow Home Values, HUD Fair Market Rents, BEA Regional Price Parities, BLS Average Prices, and NOAA Climate Normals. Updated monthly.