Gering, NE
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Gering, NE 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

Gering Housing Market Information

With a population of 8,334, 3,383 total housing units (homes and apartments), and a median house value of $118,607, house prices in Gering are solidly below the national average.

Single-family detached homes are the single most common housing type in Gering, accounting for 78.21% of the city's housing units. Other types of housing that are prevalent in Gering include large apartment complexes or high rise apartments ( 10.88%), duplexes, homes converted to apartments or other small apartment buildings ( 7.91%), and a few row houses and other attached homes ( 1.72%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Gering. Owner-occupied housing accounts for 68.03% of Gering's homes, and 58.21% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Gering 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 Gering built between 1940-1969 ( 33.50%). A lesser amount of the housing stock also hails from before 1939 ( 13.42%). There's also some housing in Gering built between 2000 and later ( 9.08%).

Gering Home Appreciation Rates

In the last 10 years, Gering has experienced some of the highest home appreciation rates of any community in the nation. Gering real estate appreciated 22.34% over the last ten years, which is an average annual home appreciation rate of 2.04%, putting Gering in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Gering definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

NeighborhoodScout's data show that during the latest twelve months, Gering's appreciation rate, at 4.88%, has been at or slightly above the national average. In the latest quarter, Gering's appreciation rate has been 0.99%, which annualizes to a rate of 4.02%.

Relative to Nebraska, our data show that Gering's latest annual appreciation rate is lower than 70% of the other cities and towns in Nebraska.

Average Home Values

 

Median Home Value:
$118,607

Gering, NE HOME PRICES

Value Range
> $1,121,000 0.0
$840,001 - $1,121,000 0.0
$561,001 - $840,000 1.2
$448,001 - $561,000 0.4
$336,001 - $448,000 2.1
$224,001 - $336,000 13.6
$112,001 - $224,000 45.4
$56,001 - $112,000 26.6
$0 - $56,000 10.7

Average for NE
Low for Nation

Value Relative to Nation Value Relative to State
66.3014180241416 53.8461538461538

Number Of Homes And Apartments:
3,383

Gering Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NE*
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
50.77% 2.41% 3 6
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$755 / per month

Homeownership Rate

Homeownership
Owners 68.03
Renters 31.97
Vacant 7.72

Housing Market Details

 

Age of Homes

AGE OF Gering HOMES
2000 or Newer 9.1
1970 - 1999 44.0
1940 - 1969 33.5
1939 or Older 13.4

Types of Homes

TYPE OF Gering HOMES
Single-Family 78.2
Townhomes 1.7
Small Apt. Buildings 7.9
Apt. Complexes 10.9
Mobile Homes 1.3
Other 0.0

Home Size

SIZE OF Gering HOMES
No Bedroom 0.00
1 Bedroom 8.27
2 Bedrooms 26.19
3 Bedrooms 40.29
4 Bedrooms 17.92
5 or more bedrooms 7.34

Popular Neighborhoods in Gering

Zip Codes in Gering, NE