Quick facts: Grand island, NE

Quick Facts

94.7
Cost of Living
below US average
52,513
Population
29.38
Crime Rate per 1000
above US average
$59,061
Median Income
below US average
$295,000
Median House Price
above US average
$1851.67
Average Rent
above US average
10%
Poverty Rate
below US average
3.1%
Unemployment Rate
below US average

πŸ’΅ Affordability Calculator

Based on the 28/36 rule: housing costs should not exceed 28% of your gross income. Compared against local median income of $59,061.

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Income Needed to Buy

βœ— Stretch
$93k/year
Based on $295,000 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $93k vs median $59,061
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Income Needed to Rent

⚠ Stretch
$79k/year
Based on $1851.67/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $79k vs median $59,061
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Grand island, NE

Grand Island is a city located in Hall County, Nebraska, situated in the central part of the state. It serves as a key economic and cultural hub for the region. With a population of around 50,000, Grand Island features a mix of both urban and rural elements, offering a diverse community and a relaxed lifestyle. The city is known for its rich agricultural heritage, with a strong emphasis on farming and related industries. Grand Island hosts several annual events, including the Nebraska State Fair, which draws visitors from across the state and beyond, showcasing local culture and agriculture. Grand Island has a variety of parks and recreational facilities, including the scenic Crane Trust Nature & Visitor Center, where visitors can learn about the Sandhill cranes that migrate to the area. The city is also home to a vibrant downtown area with shops, restaurants, and cultural attractions, including the Grand Island Public Library and the Stuhr Museum of the Prairie Pioneer, celebrating the area's history and pioneer heritage. Educational institutions like the Central Community College are notable contributors to the community, providing higher education and vocational training options. Overall, Grand Island offers a welcoming atmosphere with a blend of history, culture, and community spirit.

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