Grand Island, NY
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Grand Island, NY 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 Island Housing Market Information

With 20,717 people, 2,685 houses or apartments, and a median cost of homes of $199,691, Grand Island 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 Island, accounting for 81.08% of the town's housing units. Other types of housing that are prevalent in Grand Island include large apartment complexes or high rise apartments ( 11.05%), duplexes, homes converted to apartments or other small apartment buildings ( 4.32%), and a few row houses and other attached homes ( 3.31%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Grand Island. Owner-occupied housing accounts for 80.59% of Grand Island's homes, and 74.01% have either three or four bedrooms, which is average sized relative to America.

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 ( 38.67%). A lesser amount of the housing stock also hails from between 2000 and later ( 12.94%). There's also some housing in Grand Island built before 1939 ( 5.83%).

Grand Island Home Appreciation Rates

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 16.18% over the last ten years, which is an average annual home appreciation rate of 1.51%, putting Grand Island in the top 20% 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.

NeighborhoodScout's data show that during the latest twelve months, Grand Island's appreciation rate, at 3.17%, has been at or slightly above the national average. In the latest quarter, Grand Island's appreciation rate has been -0.40%, which annualizes to a rate of -1.57%.

Relative to New York, our data show that Grand Island's latest annual appreciation rate is higher than 50% of the other cities and towns in New York.

Average Home Values

 

Median Home Value:
$199,691

Grand Island, NY HOME PRICES

Value Range
> $1,100,000 0.6
$825,001 - $1,100,000 0.0
$550,001 - $825,000 1.9
$440,001 - $550,000 2.0
$330,001 - $440,000 9.0
$220,001 - $330,000 28.7
$110,001 - $220,000 47.8
$55,001 - $110,000 8.1
$0 - $55,000 1.9

Average for NY
High for Nation

Value Relative to Nation Value Relative to State
32.3332942693074 44.5566778900112

Number Of Homes And Apartments:
2,685

Grand Island Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
NY*
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
56.97% 2.65% 5 7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,202 / per month

Homeownership Rate

Homeownership
Owners 80.59
Renters 19.41
Vacant 5.45

Housing Market Details

 

Age of Homes

AGE OF Grand Island HOMES
2000 or Newer 12.9
1970 - 1999 42.6
1940 - 1969 38.7
1939 or Older 5.8

Types of Homes

TYPE OF Grand Island HOMES
Single-Family 81.1
Townhomes 3.3
Small Apt. Buildings 4.3
Apt. Complexes 11.0
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Grand Island HOMES
No Bedroom 0.00
1 Bedroom 2.93
2 Bedrooms 20.23
3 Bedrooms 49.10
4 Bedrooms 24.91
5 or more bedrooms 2.82

Popular Neighborhoods in Grand Island

Zip Codes in Grand Island, NY