Mortgage payment estimates, closing cost breakdowns, and homebuying data for Grand Island, Nebraska.
Pre-filled with Grand Island median home price and Nebraska tax/insurance rates. Adjust for your property.
Estimated closing costs based on Nebraska rates and fees applied to Grand Island prices.
The median home price in Grand Island is $195,000, 20% below the Nebraska state median of $245,000. With a population of 53,131, Grand Island is a smaller market where home prices tend to be more accessible than in many parts of Nebraska.
Property taxes in Nebraska average 1.73% annually. This higher-than-average tax rate means a $195,000 home in Grand Island would carry roughly $281/month in property taxes alone — plan accordingly. Homeowners insurance in Nebraska runs approximately $2,800 per year. This is within the normal range nationally.
Average rent in Grand Island is $920/month. The price-to-rent ratio in Grand Island is moderate, meaning the buy-vs-rent decision depends heavily on how long you plan to stay.
Grand Island offers strong affordability. With median prices under $250K, first-time buyers have realistic paths to homeownership, especially combined with Nebraska's NIFA Homebuyer Assistance program.