Housing Market Overview
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Grant County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $60,002 | $167,658 | $242,182 |
| Price Trend (Annual %) | — | 8.2% | 8.2% |
| Median Gross Rent | $882 | $1,035 | $1,342 |
| Rent Trend (Annual %) | 17.0% | 4.8% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Grant County is about 64% lower than in Nebraska. Rent is about 15% lower than the Nebraska average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2016
Median Rent Prices, 2015-2023
Median rent in Grant County rose about 42.8% between 2015 and 2023, from $618 to $882. Over the same span, rent in Nebraska rose about 42.6%.
Affordability
On average, housing unit costs 0.9 yearly household incomes in Grant County.
Buying the median-priced home in Grant County costs roughly 5.7 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Grant County. The price-to-rent ratio in Nebraska is about 13.5.
| Metric | Grant County | Nebraska Avg | US Average |
|---|---|---|---|
| Median Home Price | $60,002 | $167,658 | $242,182 |
| Median Household Income | $65,514 | $74,987 | $78,145 |
| Price-to-Income Ratio | 0.9 | 2.2 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2016, the median home price in Grant County rose about 0.0%, while median household income rose about 76.0% between 2009 and 2023 — income grew faster than the home price.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Grant County | Nebraska Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 48.3% | 61.2% | 58.2% |
| Rental Rate | 22.2% | 30.8% | 31.3% |
| Vacancy Rate | 29.4% | 8.0% | 10.6% |
| Median Tenure (years) | 20.0 | 14.0 | 15.0 |
| Median Year Moved In | 2006 | 2012 | 2011 |
Grant County has a homeownership rate of 48.3%, lower than the Nebraska average of 61.2%. Its housing vacancy rate is 29.4%, compared with 8.0% in Nebraska.
Housing Stock
| Metric | Grant County | Nebraska Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.29 people | 2.43 people | 2.54 people |
| Median Structure Built Year | 1962 | 1973 | 1978 |
| Median Number of Rooms | 5.6 | 6.1 | 5.5 |
The typical housing unit in Grant County was built around 1962. On average, 2.3 people live in a home with about 5.6 rooms, staying for about 20.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Grant County, Nebraska.
What is the median home price in Grant County, Nebraska?
The median home price in Grant County, Nebraska is $60,002, lower than the Nebraska average of $167,658.
What is the average home price in Grant County, Nebraska?
The typical home price in %s, reported as the median sale price, is %s. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Grant County, Nebraska?
The median gross rent in Grant County, Nebraska is $882 per month, lower than the Nebraska average of $1,035.
What was the median gross rent in Grant County in 2020?
In 2020, the median gross rent in Grant County, Nebraska was $825 per month.
What is the price-to-rent ratio in Grant County, Nebraska?
The price-to-rent ratio in Grant County, Nebraska is about 5.7, meaning it would take roughly 5.7 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Grant County.
What is the homeownership rate in Grant County, Nebraska?
48.3% of households in Grant County, Nebraska own their home, lower than the Nebraska average of 61.2%.
What is the vacancy rate in Grant County, Nebraska?
The housing vacancy rate in Grant County, Nebraska is 29.4%, higher than the Nebraska average of 8.0%.