Grand Junction, CO 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 Q2 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (latest available). Updated annually.

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

Grand Junction, CO Housing Market Trends

With 63,597 people, 26,282 houses or apartments, and a median cost of homes of $286,076, 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 61.85% of the city's housing units. Other types of housing that are prevalent in Grand Junction include large apartment complexes or high rise apartments ( 16.82%), duplexes, homes converted to apartments or other small apartment buildings ( 10.78%), and a few mobile homes or trailers ( 5.60%).

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 55.62% owning and 44.38% 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 ( 28.13%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.36%). There's also some housing in Grand Junction built before 1939 ( 8.05%).

Grand Junction Home Appreciation Rates

In the last 10 years, Grand Junction has experienced some of the highest home appreciation rates of any community in the nation. Grand Junction real estate appreciated 226.00% over the last ten years, which is an average annual home appreciation rate of 12.54%, putting Grand Junction in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Grand Junction definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

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 10.67%, which is higher than appreciation rates in 73.06% 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 4.97%, which equates to an annual appreciation rate of 21.43%.

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 higher than 70% 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:
$286,076

Grand Junction, CO HOME PRICES

> $1,312,000
0.5%
0.5%
$984,001 - $1,312,000
1.1%
1.1%
$656,001 - $984,000
4.3%
4.3%
$525,001 - $656,000
4.4%
4.4%
$394,001 - $525,000
13.6%
13.6%
$262,001 - $394,000
29.3%
29.3%
$131,001 - $262,000
37.8%
37.8%
$66,001 - $131,000
4.0%
4.0%
$0 - $66,000
5.0%
5.0%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

Low for CO

Value Relative To Nation

Number Of Homes And Apartments:
26,282

Grand Junction Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CO*
Compared To
America*
Latest Quarter:
2021 Q1 - 2021 Q2
Last 12 Months:
2020 Q2 - 2021 Q2
Last 2 Years:
2019 Q2 - 2021 Q2
Last 5 Years:
2016 Q2 - 2021 Q2
Last 10 Years:
2011 Q2 - 2021 Q2
Since 2000:
2000 Q1 - 2021 Q2
121.76% 3.77%
7
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,502 / per month

Homeownership Rate

Owners
55.6%
55.6%
Renters
44.4%
44.4%
Vacant
5.7%
5.7%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
28.1%
28.1%
1970 - 1999
44.5%
44.5%
1940 - 1969
19.4%
19.4%
1939 or Older
8.1%
8.1%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
61.9%
61.9%
Townhomes
4.9%
4.9%
Small Apt. Buildings
10.8%
10.8%
Apt. Complexes
16.8%
16.8%
Mobile Homes
5.6%
5.6%
Other
0.1%
0.1%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
2.7%
2.7%
1 Bedroom
8.3%
8.3%
2 Bedrooms
28.1%
28.1%
3 Bedrooms
43.7%
43.7%
4 Bedrooms
13.7%
13.7%
5 or more bedrooms
3.5%
3.5%
0.0% 100.0%
% OF HOMES

Popular Communities Near Grand Junction, CO

Zip Codes in Grand Junction, CO