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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Gering, NE Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2024. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Gering, NE Housing Market Trends

With 8,478 people, 3,384 houses or apartments, and a median cost of homes of $208,322, house prices in Gering are solidly below the national average.

Single-family detached homes are the single most common housing type in Gering, accounting for 76.81% of the city's housing units. Other types of housing that are prevalent in Gering include large apartment complexes or high rise apartments ( 9.79%), duplexes, homes converted to apartments or other small apartment buildings ( 9.06%), and a few row houses and other attached homes ( 2.81%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Gering. Owner-occupied housing accounts for 71.26% of Gering's homes, and 57.05% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Gering built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Gering built between 1940-1969 ( 33.63%). A lesser amount of the housing stock also hails from between 2000 and later ( 17.70%). There's also some housing in Gering built before 1939 ( 9.96%).

Gering Home Appreciation Rates

Some of the lowest real estate appreciation rates in America over the last ten years have been in Gering, where house values have increased just 55.81%, which is annualized rate of 4.53%. This rate is lower than the appreciation rate found in 90% of the cities and towns in America.

NeighborhoodScout's data show that during the latest twelve months, Gering's appreciation rate, at 7.98%, has been at or slightly above the national average. In the latest quarter, Gering's appreciation rate has been 5.45%, which annualizes to a rate of 23.64%.

Importantly, this makes Gering one of the highest appreciating communities in the nation for the latest quarter, and may signal the city's near-future real estate investment strength.

Relative to Nebraska, our data show that Gering's latest annual appreciation rate is higher than 80% of the other cities and towns in Nebraska.

Average Home Values

Median Home Value

$208,322

Gering, NE Home Prices
> $1,326,000
$995,001 - $1,326,000
$663,001 - $995,000
$531,001 - $663,000
$398,001 - $531,000
$265,001 - $398,000
$133,001 - $265,000
$66,001 - $133,000
$0 - $66,000
0.0%
0.0%
0.1%
0.1%
0.8%
0.8%
1.5%
1.5%
3.7%
3.7%
27.1%
27.1%
42.2%
42.2%
19.1%
19.1%
5.5%
5.5%
0% 100.0%
% of Homes
Average

for Nebraska

Low

for nation

Number of Homes And Apartments:

3,384

Gering Appreciation Rates

Rent & Ownership

Average Market Rent:

$1,224 / per month

Homeownership Rate

Owners
Renters
71.3%
71.3%
28.7%
28.7%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
4.8%
4.8%
95.2%
95.2%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
17.7%
17.7%
38.7%
38.7%
33.6%
33.6%
10.0%
10.0%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
76.8%
76.8%
2.8%
2.8%
9.1%
9.1%
9.8%
9.8%
1.5%
1.5%
0.0%
0.0%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.3%
0.3%
9.4%
9.4%
22.9%
22.9%
35.5%
35.5%
21.5%
21.5%
10.3%
10.3%
0% 100.0%
% of Homes

Popular Neighborhoods in Gering

Zip Codes in Gering, NE