ZIP Code · HI

ZIP 96720

Part of Hilo, HI

Pop. 52,979·Hawaii County·29th most expensive ZIP in Hawaii

Median rent (all units)

$2,129/mo

Year-over-Year

Stable

Month-over-Month

+2.8%

vs US Median

+$197

Reported rents

Rising (Monthly)

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ZIP 96720 · $2,129

More expensive than 68% of US ZIP codes · National median $1,932/mo

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Medians by bedroom

Rent by unit size

Studio

$1,460

1 BR

$1,470

2 BR

$1,900

3 BR

$2,440

4 BR+

$2,770

Research median

$1,900/mo

Bedroom estimates are gross rents that include essential utilities (electricity, water, gas, sewer, trash).

Rent trends

12-month history

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Last updated: October 17, 2026

From the history

What the numbers show

What a typical income covers

30% of the median household income ($80,938) is $2,023 a month. That covers HUD's Fair Market Rent for up to a 2-bedroom ($1,900); a 3-bedroom is $2,440.

From Zillow's monthly rent index (ZORI) for ZIP 96720. Income is the Census median household income (5-year estimates). Fair Market Rents are HUD’s, which include utilities.

Annual cost

$25,548/yr

At $2,129/mo median

Location

CityHilo

StateHI

CountyHawaii County

Rent Market Meter

Landlord's Market

Renter's MarketBalancedLandlord's Market

Rents are climbing (0.0% YoY), so leverage tilts toward landlords. Act sooner rather than later.

Based on rent-price momentum (+0.0% YoY, +2.8% MoM), not inventory.

Demographics

Who lives here

ZIP 96720 (Hilo, HI) is majority owner-occupied, has a large retiree population, 34.3% of residents hold a bachelor's degree or higher.

Population

52,979

Median income

$80,938

Median age

42.8

Renters

33.5%

Age distribution

20.1%

20.6%

23.6%

13.1%

22.6%

Under 1820.1%

18–3420.6%

35–5423.6%

55–6413.1%

65+22.6%

Gender

48.1%

51.9%

Male48.1%

Female51.9%

Race & ethnicity

16%

34.2%

38.2%

White16%

Black0.8%

Hispanic10.8%

Asian34.2%

Other38.2%

Education (25+)

28.5%

31.4%

34.3%

No HS diploma5.8%

HS diploma28.5%

Some college31.4%

Bachelor's+34.3%

Housing tenure

66.5%

33.5%

Owner66.5%

Renter33.5%

Source: U.S. Census Bureau · ACS 2024 5-Year Estimates

2021 vs 2026

How ZIP 96720 in Hilo, HI has changed in 5 years

Income

$69,984 → $80,938

up 15.7%

Population

49,886 → 52,979

up 6.2%

Renter share

35% → 33.5%

-1.5 pts

Bachelor's+

33.5% → 34.3%

+0.8 pts

Median age

40.1 → 42.8

+2.7 yrs

Census figures show median household income at $80,938 today, compared with $69,984 five years earlier. Headcount in the area went from 49,886 to 52,979 between 2021 and 2024, a 6.2% change. About 33.5% of households rent today, against 35% in 2021.

Community

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Local insights

Tips for renters in ZIP 96720

About renting in ZIP 96720

Last updated: October 17, 2026

ZIP code 96720 covers Hilo, HI. The median rent here is $2,129/mo as of October 2026. A 1-bedroom rents for a median of $1,470/mo. A 2-bedroom rents for a median of $1,900/mo.

At 32% of local median household income ($80,938/yr), ZIP 96720 ranks as moderate compared to the national benchmark of 30%. Rent prices have stayed steady over the past year.

FAQ

Frequently asked questions

How much income do you need to rent in ZIP 96720?

To keep rent at or below 30% of gross income, you would need to earn at least $85,000/year (about $41/hour full-time) to afford the median rent of $2,129/mo in ZIP 96720. The local median household income is $80,938/yr, so the typical household falls short of that bar.