Grand Island, NY—14072
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Grand Island, NY
As of Oct '25, the median home price in Grand Island, NY is $377,000, with a year-over-year change of 3.1%. This indicates that home prices in Grand Island, NY are increasing. According to Zillow, the 1-year price projection is 2.0%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $377,000 | 3.1% |
| Single Family | $377,000 | 3.3% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $317,000 | 3.6% |
3 Bed | $343,000 | 2.7% |
4 Bed | $441,000 | 4.5% |
| 5 Bed | $465,000 | 3.3% |
% of Housing Stock
Rental Trends — Grand Island, NY
As of July '25, Rentcast reports the average rent in Grand Island, NY is $1,830, with a year-over-year rent change of -26.5%. Per bedroom, the median rent as of July '25 in Grand Island, NY is 1-bedrooms: $1,330, 2-bedrooms: $1,770, 3-bedrooms: $2,140, 4-bedrooms: $2,850. The most common rental property sizes in Grand Island, NY are 2-bedroom and 1-bedroom, accounting for 64.8% and 16.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,830 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,300 | $1,330 |
| 2 Bed Rent | $1,550 | $1,770 |
| 3 Bed Rent | $2,120 | $2,140 |
| 4 Bed Rent | $2,850 | $2,850 |
% of Rental Stock
Property Listings — Grand Island, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Grand Island, NY is 33. This is a decrease of -7.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $446,000 | 6.0% |
Listing Count | 79 | 4.0% |
| Listings as % of Homes | 0.4% | 4.0% |
Days on Market | 33 | -7.0% |
Demographics — Grand Island, NY
As of the latest ACS Survey released in 2023, Grand Island, NY has a population of 21,400, which has increased by 2.6% over the past 5 years. Grand Island, NY is a moderately popular place for families, as children make up 19.4% of the population. The area has a moderately educated workforce, with 44.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 15.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 21,400 | 2.6% |
% Under 18 | 19.4% | -12.6% |
% Seniors | 20.1% | 18.2% |
% WFH | 15.1% | 190.4% |
% w/ College Degree | 44.3% | 8.3% |
As of the latest ACS Survey released in 2023, Grand Island, NY is a predominantly white area, with 89.9% of the population identifying as white. The white population has shrunk by 3.9% in the last 5 years. The second most common race or ethnicity in Grand Island, NY is hispanic, making up 2.8% of the population. Foreign-born residents account for 4.7% of the population in Grand Island, NY, and this percentage has decreased by 17.5% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 89.9% | -3.9% |
% Black | 2.0% | 66.7% |
% Hispanic | 2.8% | 12.0% |
% Asian | 2.0% | 25.0% |
% Foreign Born | 4.7% | -17.5% |
Mortgage and Risk — Grand Island, NY
According to HUD data as of 2023, there were 358 mortgage originations in Grand Island, NY, of which 88.0% of loans were conventional mortgages. The average loan-to-value was 57.0%, with 18.0% above 90% LTV (elevated). This implies medium mortgage risk in Grand Island, NY. Investor activity is low, as 0.0% of loans were by investors. 15.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 358 |
% Conventional Loans | 88.0% |
% Government Loans | 12.0% |
% Investor Loans | 0.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 15.0% |
Loan Activity
Rentals and Section 8 — Grand Island, NY
As of 2024, the percent of homes in Grand Island, NY under the Section 8 program is 4.6%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. In Grand Island, NY, none of the tracked home sizes currently have HUD payment amounts above market rent, suggesting limited Section 8 opportunity.
Section 8 Market Size
Total Units under HUD | 130 |
Total Units Section 8 | 81 |
% Rentals under Section 8 | 4.6% |
% Occupied Section 8 | 83.7% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$60 | $1,300 | $1,240 |
| 2 Bedroom | -$90 | $1,550 | $1,460 |
| 3 Bedroom | -$340 | $2,120 | $1,780 |
| 4 Bedroom | -$830 | $2,850 | $2,020 |
Affordability — Grand Island, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.1 |
| Median Home Price | $377,000 |
| Median Household Income | $107,000 |