Market Overview
Home Prices in Grand Island, FL
The median home value in Grand Island, FL is $320,058 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 4.3% compared to a year ago and down 1.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Grand Island are priced22% below average. Grand Island is part of the Orlando-Kissimmee-Sanford, FL metro area.
Over the past five years, Grand Island home values have risen by approximately22.4%, reflecting strong long-term appreciation in this market.
Price History
Grand Island Home Price Trend
City Comparison
Grand Island vs. National Median
At $320,058, homes in Grand Island cost 22% below the national median of $410,000. This makes Grand Island a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Grand Island?
20% Down Payment
$64,012
on $320,058
Monthly P&I
$1,669/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,120/mo
incl. taxes & insurance
Income Needed
$84,800
gross annual (30% rule)
10% Down Option
$32,006
+ PMI applies
Loan Amount (20% dn)
$256,046
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Grand Island, FL?
The median home value in Grand Island is $320,058 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 4.3% year-over-year.
How much have home prices changed in Grand Island?
Over the past year, home values in Grand Island have decreased by 4.3%. Over five years, prices have risen approximately 22.4%.
How much do I need to earn to buy a home in Grand Island?
To comfortably afford the median home price of $320,058 with a 20% down payment ($64,012) at today's rates (6.8%), you'd need a gross annual income of approximately $84,800. This assumes keeping total housing costs at or below 30% of gross income.
How does Grand Island compare to the national average home price?
The national median home value is approximately $410,000. At $320,058, homes in Grand Island are 22% below the national average.
What metro area is Grand Island part of?
Grand Island is part of the Orlando-Kissimmee-Sanford, FL metropolitan area. Home prices and market conditions can vary across the broader metro region.