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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more
With 51,440 people, 18,721 houses or apartments, and a median cost of homes of $128,253, house prices in Grand Island are solidly below the national average.
Single-family detached homes are the single most common housing type in Grand Island, accounting for 66.51% of the city's housing units. Other types of housing that are prevalent in Grand Island include large apartment complexes or high rise apartments ( 14.92%), duplexes, homes converted to apartments or other small apartment buildings ( 8.75%), and a few row houses and other attached homes ( 6.63%).
The most prevalent building size and type in Grand Island are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 58.02% owning and 41.98% renting.
There is a lot of housing in Grand Island 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 Island built between 1940-1969 ( 32.87%). A lesser amount of the housing stock also hails from before 1939 ( 17.85%). There's also some housing in Grand Island built between 2000 and later ( 11.17%).
In the last 10 years, Grand Island has experienced some of the highest home appreciation rates of any community in the nation. Grand Island real estate appreciated 26.75% over the last ten years, which is an average annual home appreciation rate of 2.40%, putting Grand Island in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Grand Island 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 Island that despite a nationwide downturn in the housing market, Grand Island real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Grand Island appreciation rates continue to be some of the highest in America, at 7.85%, which is higher than appreciation rates in 86.00% 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 Island. Grand Island appreciation rates in the latest quarter were at 3.42%, which equates to an annual appreciation rate of 14.38%.
Importantly, NeighborhoodScout’s exclusive research found that Grand Island'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 Nebraska, our data show that Grand Island's latest annual appreciation rate is higher than 90% of the other cities and towns in Nebraska.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Grand Island differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Grand Island - 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 Island real estate investment or home purchase decisions.
|$881,001 - $1,175,000||0.1|
|$588,001 - $881,000||0.7|
|$470,001 - $588,000||0.3|
|$353,001 - $470,000||2.8|
|$235,001 - $353,000||11.1|
|$118,001 - $235,000||44.2|
|$59,001 - $118,000||30.6|
|$0 - $59,000||10.2|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Grand Island HOMES|
|2000 or Newer||11.2|
|1970 - 1999||38.1|
|1940 - 1969||32.9|
|1939 or Older||17.9|
|TYPE OF Grand Island HOMES|
|Small Apt. Buildings||8.7|
|SIZE OF Grand Island HOMES|
|5 or more bedrooms||6.43|