Quick facts: Grand island, NY

Quick Facts

113.7
Cost of Living
above US average
21,294
Population
7.04
Crime Rate per 1000
below US average
$75,000
Median Income
below US average
$364,900
Median House Price
above US average
$1752.5
Average Rent
above US average
5%
Poverty Rate
below US average
4.0%
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 $75,000.

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Income Needed to Buy

βœ— Stretch
$114k/year
Based on $364,900 median home price
Assumes 30-year mortgage at 7% with 20% down payment
⚠️ Requires $114k vs median $75,000
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Income Needed to Rent

⚠ Stretch
$75k/year
Based on $1752.5/month average rent
Annual income where rent = 28% of gross
⚠️ Requires $75k vs median $75,000
πŸ’‘ 28/36 Rule: Housing ≀28% of gross income, total debt ≀36%. This is a guideline used by many lenders.

Overview for Grand island, NY

Grand Island is a charming town located in Erie County, New York. It is situated on Grand Island, which lies in the Niagara River near Niagara Falls, making it an attractive destination for nature lovers and outdoor enthusiasts. The town is known for its beautiful parks, including Beaver Island State Park, which offers hiking trails, picnic areas, and stunning views of the Niagara River. With a population of around 20,000 residents, Grand Island retains a suburban feel while being conveniently close to the bustling city of Buffalo, which is just a short drive away. The community is characterized by its friendly atmosphere, good schools, and family-oriented activities. Grand Island also hosts various events throughout the year, fostering community spirit and engagement. The local economy benefits from nearby industries and the proximity to tourist attractions like Niagara Falls, which draws visitors from around the globe. Overall, Grand Island is a peaceful retreat with access to urban amenities, making it a desirable place to live or visit in Western New York.

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