Grand Junction, CO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Grand Junction Neighborhoods Since 2000




Grand Junction, CO Real Estate Data


Grand Junction Housing Market Information

With 60,358 people, 24,343 houses or apartments, and a median cost of homes of $237,404, Grand Junction real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Grand Junction, accounting for 64.42% of the city's housing units. Other types of housing that are prevalent in Grand Junction include large apartment complexes or high rise apartments ( 16.09%), duplexes, homes converted to apartments or other small apartment buildings ( 8.06%), and a few row houses and other attached homes ( 6.00%).

The most prevalent building size and type in Grand Junction are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.58% owning and 43.42% renting.

There is a lot of housing in Grand Junction 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 Junction built between 2000 and later ( 24.19%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.60%). There's also some housing in Grand Junction built before 1939 ( 9.06%).

Grand Junction Home Appreciation Rates

Real estate appreciation rates in Grand Junction's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 0.06% during the period.

Appreciation rates are so strong in Grand Junction that despite a nationwide downturn in the housing market, Grand Junction real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Grand Junction appreciation rates continue to be some of the highest in America, at 5.72%, which is higher than appreciation rates in 70.22% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Grand Junction. Grand Junction appreciation rates in the latest quarter were at 4.09%, which equates to an annual appreciation rate of 17.38%.

Importantly, NeighborhoodScout’s exclusive research found that Grand Junction's housing market shows one of the <a href="/blog/highest-appreciating-cities">top real estate appreciation rates in the U.S.A.</a> in the latest quarter, which may signal the city’s near-future real estate investment strength.

Relative to Colorado, our data show that Grand Junction's latest annual appreciation rate is lower than 80% of the other cities and towns in Colorado.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Grand Junction differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Grand Junction - 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 Junction real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$237,404

Grand Junction, CO HOME PRICES

Value Range
> $1,164,000 0.4
$873,001 - $1,164,000 0.2
$582,001 - $873,000 2.8
$465,001 - $582,000 4.1
$349,001 - $465,000 10.6
$233,001 - $349,000 27.2
$116,001 - $233,000 42.5
$58,001 - $116,000 5.6
$0 - $58,000 6.8

Low for CO
High for Nation

Value Relative to Nation Value Relative to State
25.1566434385431 61.1353711790393

Number Of Homes And Apartments:
24,343

Rent & Ownership

 

Average Market Rent:
$1,181 / per month

Homeownership Rate

Homeownership
Owners 56.58
Renters 43.42
Vacant 6.03

Housing Market Details

 

Age of Homes

AGE OF Grand Junction HOMES
2000 or Newer 24.2
1970 - 1999 47.2
1940 - 1969 19.6
1939 or Older 9.1

Types of Homes

TYPE OF Grand Junction HOMES
Single-Family 64.4
Townhomes 6.0
Small Apt. Buildings 8.1
Apt. Complexes 16.1
Mobile Homes 5.4
Other 0.1

Home Size

SIZE OF Grand Junction HOMES
No Bedroom 1.85
1 Bedroom 9.59
2 Bedrooms 28.66
3 Bedrooms 42.99
4 Bedrooms 13.22
5 or more bedrooms 3.69

Grand Junction Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CO*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
56.87% 2.68% 6 7
* 10 is highest