96720, Hilo, HI

The 96720 zip code of Hilo, HI is located on the island of Hawaii. The median home value in this zip code is $269,000 and the median home equity is $142,000. This means that approximately 56% of homes in this zip code are worth more than their original purchase price. Additionally, the average home value growth rate for this zip code over the past five years has been 5%. This indicates that there are a lot of people who are benefiting from rising home values in this area.

One reason why home values have been increasing so rapidly in the 96720 zip code is because there is a high demand for housing here. There are a lot of people who want to live in Hilo because it is a beautiful place to live and it has a great climate. Additionally, many businesses have relocated to Hilo over the past few years which has also contributed to increased demand for housing.

Another reason why home values have been increasing rapidly in the 96720 zip code is because there are limited supply of homes available. In addition, many homes that were built several years ago are still standing and they are now worth more than when they were first purchased. This indicates that there is strong demand for housing in this area and that developers are not able to build new homes quickly enough to meet that demand.