Grand Junction CO
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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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 Q2 2020. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2018 (latest available). Updated annually.

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

Grand Junction Housing Market Information

With a population of 63,374, 25,668 total housing units (homes and apartments), and a median house value of $261,976, 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 61.02% of the city's housing units. Other types of housing that are prevalent in Grand Junction include large apartment complexes or high rise apartments ( 16.90%), duplexes, homes converted to apartments or other small apartment buildings ( 10.71%), and a few mobile homes or trailers ( 6.19%).

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 57.17% owning and 42.83% 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 ( 27.15%). A lesser amount of the housing stock also hails from between 1940-1969 ( 20.14%). There's also some housing in Grand Junction built before 1939 ( 8.29%).

Grand Junction Home Appreciation Rates

Appreciation rates for homes in Grand Junction have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 34.08%, which ranks in the top 40% nationwide. This equates to an annual average Grand Junction house appreciation rate of 2.98%.

NeighborhoodScout's data show that during the latest twelve months, Grand Junction's appreciation rate, at 5.02%, has been at or slightly above the national average. In the latest quarter, Grand Junction's appreciation rate has been 2.13%, which annualizes to a rate of 8.81%.

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 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:
$261,976

Grand Junction, CO HOME PRICES

Value Range
> $1,274,000 0.6
$956,001 - $1,274,000 0.8
$637,001 - $956,000 3.7
$510,001 - $637,000 4.2
$382,001 - $510,000 11.5
$255,001 - $382,000 26.3
$127,001 - $255,000 41.4
$64,001 - $127,000 5.0
$0 - $64,000 6.5

Low for CO
High for Nation

Value Relative to Nation Value Relative to State
27.0773722627737 69.5652173913043

Number Of Homes And Apartments:
25,668

Grand Junction Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
CO*
Compared To
America*
Latest Quarter:
2020 Q1 - 2020 Q2
Last 12 Months:
2019 Q2 - 2020 Q2
Last 2 Years:
2018 Q2 - 2020 Q2
Last 5 Years:
2015 Q2 - 2020 Q2
Last 10 Years:
2010 Q2 - 2020 Q2
Since 2000:
2000 Q1 - 2020 Q2
98.33% 3.40%
6
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,402 / per month

Homeownership Rate

Homeownership
Owners 57.17
Renters 42.83
Vacant 5.67

Housing Market Details

 

Age of Homes

AGE OF Grand Junction HOMES
2000 or Newer 27.1
1970 - 1999 44.4
1940 - 1969 20.1
1939 or Older 8.3

Types of Homes

TYPE OF Grand Junction HOMES
Single-Family 61.0
Townhomes 5.1
Small Apt. Buildings 10.7
Apt. Complexes 16.9
Mobile Homes 6.2
Other 0.1

Home Size

SIZE OF Grand Junction HOMES
No Bedroom 2.35
1 Bedroom 8.78
2 Bedrooms 28.43
3 Bedrooms 43.24
4 Bedrooms 13.80
5 or more bedrooms 3.40