Grand Island, NE—68803
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Grand Island, NE
Home Price Trends — Grand Island, NE
As of Oct '25, the median home price in Grand Island, NE is $284,000, with a year-over-year change of 5.8%. This indicates that home prices in Grand Island, NE are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $284,000 | 5.8% |
| Single Family | $284,000 | 5.6% |
| Condos | $286,000 | 8.7% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $148,000 | 3.5% |
2 Bed | $210,000 | 6.6% |
3 Bed | $286,000 | 5.5% |
4 Bed | $336,000 | 4.7% |
| 5 Bed | $407,000 | 3.8% |
% of Housing Stock
Rental Trends — Grand Island, NE
As of July '25, Rentcast reports the average rent in Grand Island, NE is $1,660, with a year-over-year rent change of -2.4%. Per bedroom, the median rent as of July '25 in Grand Island, NE is studios: $1,100, 1-bedrooms: $1,040, 2-bedrooms: $1,570, 3-bedrooms: $1,640, 4-bedrooms: $2,220. The most common rental property sizes in Grand Island, NE are 2-bedroom and 1-bedroom, accounting for 44.1% and 27.3% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,660 |
| Studio Rent | $1,100 | $1,100 |
| 1 Bed Rent | $1,050 | $1,040 |
| 2 Bed Rent | $1,700 | $1,570 |
| 3 Bed Rent | $1,400 | $1,640 |
| 4 Bed Rent | $2,000 | $2,220 |
% of Rental Stock
Property Listings — Grand Island, NE
As of Oct '25, Realtor.com reports that the median days on market for a home in Grand Island, NE is 60. This is a increase of 50.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $326,000 | -2.0% |
Listing Count | 95 | 56.0% |
| Listings as % of Homes | 0.4% | 56.0% |
Days on Market | 60 | 50.0% |
Demographics — Grand Island, NE
As of the latest ACS Survey released in 2023, Grand Island, NE has a population of 25,600, which has increased by 3.4% over the past 5 years. Grand Island, NE is a popular place for families, as children make up 25.6% of the population. The area has a moderately educated workforce, with 25.2% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 3.8% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 25,600 | 3.4% |
% Under 18 | 25.6% | -1.9% |
% Seniors | 20.1% | 14.9% |
% WFH | 3.8% | 90.0% |
% w/ College Degree | 25.2% | 2.4% |
As of the latest ACS Survey released in 2023, Grand Island, NE is a predominantly white area, with 72.2% of the population identifying as white. The white population has shrunk by 8.6% in the last 5 years. The second most common race or ethnicity in Grand Island, NE is hispanic, making up 23.5% of the population. Foreign-born residents account for 12.3% of the population in Grand Island, NE, and this percentage has increased by 64.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 72.2% | -8.6% |
% Black | 1.6% | -38.5% |
% Hispanic | 23.5% | 53.6% |
% Asian | 1.2% | 20.0% |
% Foreign Born | 12.3% | 64.0% |
Mortgage and Risk — Grand Island, NE
According to HUD data as of 2023, there were 390 mortgage originations in Grand Island, NE, of which 68.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Grand Island, NE. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 390 |
% Conventional Loans | 68.0% |
% Government Loans | 32.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Grand Island, NE
As of 2024, the percent of homes in Grand Island, NE under the Section 8 program is 13.1%. 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. 3-bedroom units appear to be good home sizes to consider for Section 8 housing in Grand Island, NE, because HUD payments exceed market rent, while 1-bedroom and 2-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 888 |
Total Units Section 8 | 512 |
% Rentals under Section 8 | 13.1% |
% Occupied Section 8 | 87.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$130 | $1,050 | $920 |
| 2 Bedroom | -$570 | $1,700 | $1,130 |
| 3 Bedroom | $30 | $1,400 | $1,430 |
| 4 Bedroom | -$160 | $2,000 | $1,840 |
Affordability — Grand Island, NE
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.6 |
| Median Home Price | $284,000 |
| Median Household Income | $70,000 |