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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Grand Island, NE Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Grand Island, NE Housing Market Trends

With 52,513 people, 20,263 houses or apartments, and a median cost of homes of $243,462, Grand Island real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Grand Island, accounting for 62.71% of the city's housing units. Other types of housing that are prevalent in Grand Island include large apartment complexes or high rise apartments ( 16.83%), duplexes, homes converted to apartments or other small apartment buildings ( 10.61%), and a few row houses and other attached homes ( 5.28%).

The most prevalent building size and type in Grand Island are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 57.64% owning and 42.36% renting.

There is a lot of housing in Grand Island built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Grand Island built between 1940-1969 ( 28.56%). A lesser amount of the housing stock also hails from between 2000 and later ( 16.26%). There's also some housing in Grand Island built before 1939 ( 14.52%).

Grand Island Home Appreciation Rates

Appreciation rates for homes in Grand Island have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 83.01%, which ranks in the top 50% nationwide. This equates to an annual average Grand Island house appreciation rate of 6.23%.

Over the last year, Grand Island appreciation rates have trailed the rest of the nation. In the last twelve months, Grand Island's appreciation rate has been 2.07%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Grand Island were at -2.71%, which equates to an annual appreciation rate of -10.39%.

Notably, Grand Island's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Nebraska, our data show that Grand Island's latest annual appreciation rate is lower than 90% of the other cities and towns in Nebraska.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Grand Island differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Grand Island - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Grand Island real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$243,462

Grand Island, NE Home Prices
> $1,334,000
$1,001,001 - $1,334,000
$667,001 - $1,001,000
$534,001 - $667,000
$400,001 - $534,000
$267,001 - $400,000
$133,001 - $267,000
$67,001 - $133,000
$0 - $67,000
0.9%
0.9%
0.3%
0.3%
1.4%
1.4%
3.5%
3.5%
9.9%
9.9%
24.8%
24.8%
41.1%
41.1%
13.5%
13.5%
4.7%
4.7%
0% 100.0%
% of Homes
High

for Nebraska

Average

for nation

Number of Homes And Apartments:

20,263

Grand Island Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,369 / per month

Homeownership Rate

Owners
Renters
57.6%
57.6%
42.4%
42.4%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.5%
4.5%
95.5%
95.5%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
16.3%
16.3%
40.7%
40.7%
28.6%
28.6%
14.5%
14.5%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
62.7%
62.7%
5.3%
5.3%
10.6%
10.6%
16.8%
16.8%
4.6%
4.6%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
3.2%
3.2%
12.7%
12.7%
27.5%
27.5%
32.9%
32.9%
16.8%
16.8%
6.9%
6.9%
0% 100.0%
% of Homes