Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$255,0250.0% YoY · prices are flat
Market right nowBalanced marketFewer homes for sale than last year, 17% have cut their price
Income needed to buy, per year$55,284About 0.8× the local median income ($71,495): affordable for a typical household
Days on market67 daysSlower than a year ago: buyers have time to negotiate
Next 12 months+2.6%Zillow expects prices to rise slightly
The typical home in Grand Island, NE is worth $255,025, about the same as a year ago. That is well above what local incomes have historically supported: fair value is about $224,259, so the area is 13.7% overvalued. It is a balanced market: homes take about 67 days to sell, listings are down 4% from a year ago, 17% of listings have had a price cut. Zillow expects prices to rise about 2.6% over the next year. A household needs about $55,284 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $71,495. Typical rent is $1,340 a month, or $1,520 for a house. In the latest IRS figures, 560 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$255,025
Change in 1 year
0.0%
Overvalued %
+13.7%
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Fair home value
$224,259
Change in 5 years
+24.2%
Zillow forecast, next 12 months
+2.6%
Home value to income
3.6×
Monthly mortgage payment (20% down)
$1,382
Income needed to afford it
$55,284
Property tax rate
1.33%
Rent and investing
Typical rent
$1,340
Typical rent for houses
$1,520
Price-to-rent ratio
15.9×
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HUD Fair Market Rent, 2 bedrooms
$1,174
Gross rental yield
6.31%
Cap rate (estimate)
4.10%
Market activity
Listings vs a year ago
−4.5%
Days on market
67
Listings with a price cut
17.4%
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Homes for sale
189
Pending sales per 100 listings
3
Asking price per sq ft
$128
People and jobs
Median household income
$71,495
Population change (1 year)
−0.3%
Unemployment rate
3.6%
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Population
78,076
Income adjusted for cost of living
$82,463
Net moves in (IRS)
−560
Cost of living (US = 100)
86.7
Schools, risk and environment
School rating (1 to 10)
3.8
FEMA hazard risk score (0 to 100)
66.8
Unhealthy air days a year
2
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Flood risk score
62.1
Wildfire risk score
50.7
Walkability (1 to 20)
7.9
Road, rail and air noise
52 dB
Questions people ask
Is Grand Island, NE overvalued?
Home prices in Grand Island, NE are well above what local incomes have historically supported: fair value is about $224,259, so the area is 13.7% overvalued.
Is Grand Island, NE a buyer's or seller's market?
Grand Island, NE is a balanced market: homes take about 67 days to sell, listings are down 4% from a year ago, 17% of listings have had a price cut.
Are home prices going down in Grand Island, NE?
Home values in Grand Island, NE are up 0.0% over the last year. Zillow's forecast for the next 12 months is +2.6%.
How much do you need to earn to buy a home in Grand Island, NE?
A household needs about $55,284 a year to afford the typical home in Grand Island, NE at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $71,495.