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

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Grand Junction Housing Market Information

With 60,358 people, 24,290 houses or apartments, and a median cost of homes of $206,408, 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 63.19% of the city's housing units. Other types of housing that are prevalent in Grand Junction include large apartment complexes or high rise apartments ( 16.38%), duplexes, homes converted to apartments or other small apartment buildings ( 8.27%), and a few row houses and other attached homes ( 6.10%).

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 55.80% owning and 44.20% 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 ( 25.03%). A lesser amount of the housing stock also hails from between 1940-1969 ( 19.69%). There's also some housing in Grand Junction built before 1939 ( 9.14%).

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 -0.51% 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 6.73%, which is higher than appreciation rates in 79.53% 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 2.40%, which equates to an annual appreciation rate of 9.95%.

Importantly, this makes Grand Junction one of the highest appreciating communities in the nation for the latest quarter, and 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 50% 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:
$206,408

Grand Junction, CO HOME PRICES

Value Range
> $1,161,000 0.4
$870,001 - $1,161,000 0.4
$580,001 - $870,000 2.7
$464,001 - $580,000 4.3
$348,001 - $464,000 10.4
$232,001 - $348,000 25.3
$116,001 - $232,000 44.9
$58,001 - $116,000 5.5
$0 - $58,000 6.1

Low for CO
High for Nation

Value Relative to Nation Value Relative to State
30.6926051798898 68.5589519650655

Number Of Homes And Apartments:
24,290

Grand Junction Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CO*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
57.12% 2.65% 5 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,152 / per month

Homeownership Rate

Homeownership
Owners 55.80
Renters 44.20
Vacant 5.74

Housing Market Details

 

Age of Homes

AGE OF Grand Junction HOMES
2000 or Newer 25.0
1970 - 1999 46.1
1940 - 1969 19.7
1939 or Older 9.1

Types of Homes

TYPE OF Grand Junction HOMES
Single-Family 63.2
Townhomes 6.1
Small Apt. Buildings 8.3
Apt. Complexes 16.4
Mobile Homes 6.0
Other 0.0

Home Size

SIZE OF Grand Junction HOMES
No Bedroom 2.27
1 Bedroom 8.43
2 Bedrooms 27.69
3 Bedrooms 44.80
4 Bedrooms 12.86
5 or more bedrooms 3.95