Grand Island, NE housing market
Typical home value
$253K
▼ 0.7% 1 yr
Typical rent
$1,342/mo
▲ 1.7% 1 yr
Gross rent yield
6.4%
U.S. 6.3%
5-year home value change
+24%
U.S. +20%
Key takeaways
- 1The typical home in Grand Island is worth $252,818, down 0.7% over the past year and up 24% over five years.
- 2Typical rent is $1,342 a month (+1.7% YoY), a gross rent yield of 6.4% (above the Grand Island, NE metro's 6.3%).
- 3With 20% down at 7.32%, principal and interest on the typical home is about $1,389/mo, $47 more than typical rent.
- 4Zillow forecasts the Grand Island, NE metro's home values to change +2.6% over the next 12 months.
Market temperature (Grand Island, NE metro)
Buyer's market
Buyer'sNeutralSeller's
Zillow Market Heat Index: 40/100, #283 hottest of 546 metros. Below 44 favors buyers; above 55 favors sellers.
Home values and rent
Source: Zillow Research (ZHVI, ZORI and market activity data).
How Grand Island compares
| Measure | Grand Island | Grand Island, NE metro | United States |
|---|---|---|---|
| Typical home value | $252,818 | $255,025 | $366,157 |
| Home value, 1-yr change | −0.7% | −0.0% | +1.2% |
| Typical rent | $1,342 | $1,340 | $1,932 |
| Rent, 1-yr change | +1.7% | +1.7% | +2.7% |
| Gross rent yield | 6.4% | 6.3% | 6.3% |
| Price-to-rent ratio | 15.7 | 15.9 | 15.8 |
| Mortgage P&I, typical home | $1,389 | $1,401 | $2,012 |
Run the numbers
Rental property calculator
Cash flow on a typical Grand Island rental, pre-filled.
Rent vs buy in Grand Island
Which costs less over the years you'll stay.
Mortgage calculator
Monthly payment on a $253K home.
City figures are Zillow's typical home value (ZHVI) and observed rent (ZORI). Gross yield is before expenses. Data refreshed Oct 26, 2026.