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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
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%).
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.
$208,322
for Nebraska
for nation
3,384
$1,224 / per month