Housing costs in Western New York are among the lowest in the Northeast with a broad selection of affordable houses, apartments, and condominiums. As a suburb of Buffalo, NY, Grand Island offers a variety of housing options including apartments, condo and townhouse living, patio homes, senior independent living, and single-family homes. Forbes.com named Buffalo as having one of the most affordable housing markets in the country in February 2009.

The median house or condo cost on Grand Island is $162,042 (2009), 6% lower than the national average, 33% lower than northeast U.S. average.