Grand Island sits between Lake Yale and Lake Eustis, and the name suggests lake living. The market says otherwise. None of the homes sold here in the last twelve months was on the water, against dozens in Eustis and more than a hundred in Leesburg. What Grand Island sells instead is the suburban subdivision house: nearly all single-family, about four in five with a homeowners association, the most of the three towns on this page, and almost no age-restricted or manufactured homes.
A note on scope: Grand Island is an unincorporated community with no Census-defined boundary, so this page uses its mailing address, zip 32735, for sales, population, income and commute alike.
Who Grand Island Fits, and Who It Doesn't
Strong fit: buyers who want a newer suburban house between Eustis and Leesburg without a retirement community around them, since only a handful of sales here were age-restricted; new-construction buyers who want space for the money, because new houses here were typically about 2,200 square feet at about $163 a square foot, less per square foot than new construction in Eustis or Leesburg; resale buyers who can move quickly, since existing homes went under contract in about a month; and boaters happy to use a public ramp, since Marsh Park puts Lake Yale within reach without paying for a lakefront lot.
Weaker fit: anyone buying for a lakefront lot, because none sold here all year; buyers over 55 looking for an age-restricted community, which is Leesburg's market; anyone who wants to avoid a homeowners association, since about four in five sales had one; buyers who want land, since the typical lot is about a quarter of an acre; and anyone who wants a lot of choice, because only a few homes sell here in a typical month.
Still deciding between towns? We pulled the closed sales around a $350,000 budget and put Grand Island side by side with its neighbors: what $350,000 actually buys in each. Square footage, bedrooms, year built, and how many came with a pool.
Where Is Grand Island, and What Makes It Different?
Grand Island is an unincorporated community in central Lake County, between Lake Yale to the north and Lake Eustis to the east, off State Road 44 and County Road 44, with Leesburg to the west and Eustis to the east. Marsh Park has a public boat ramp onto Lake Yale. The mean commute is 28.8 minutes.
Grand Island Housing Market Snapshot (2026)
Over the last twelve months 99 homes sold in Grand Island at a median of $334,000, down 3.2% against the twelve months before. Per square foot, which strips out any change in the size of what sold, the figure rose 0.5%. In August 2026, 4 homes closed at a median of $276,000 and the typical one went under contract in 40 days. One month is too small a sample to read a direction from, which is why the twelve-month figure leads here. That twelve-month median rests on 99 sales, a small sample for a percentage, so read it as directional rather than precise. There are 20 active residential listings as of October 9, 2026, with a median asking price of $369,750, or $173 per square foot.
Wondering whether it is a buyer's or seller's market around Grand Island? We publish that answer for Lake County as a whole, from current MLS data: Is Lake County a buyer's or seller's market?
New Construction and Resale Are Not the Same Market
Every price figure quoted for Grand Island mixes brand new homes with existing ones. Split apart, the last twelve months looked like this.
| What sold | Median, prior 12 months | Median, last 12 months | Change | Sales |
|---|---|---|---|---|
| New construction | $399,990 | $366,385 | -8.4% | 23 |
| Existing homes (resale) | $329,950 | $323,500 | -1.9% | 76 |
| All sales combined | $345,000 | $334,000 | -3.2% | 99 |
Both halves moved the same way here, so the combined figure is a fair summary of Grand Island, which is not true everywhere.
Best Neighborhoods in Grand Island, FL: Communities to Know
Grand Island is a handful of subdivisions on small lots, almost all of them built since 1980.
- The Groves at Grand Island, the new-construction community on the north side of the core: 16 new houses at about $370,000 for about 2,350 square feet, taking about two and a half months to go under contract
- Grand Island Reserve and Raintree Harbor, on the east side: Grand Island Reserve, built in the 2010s, closed at about $365,000 for about 2,400 square feet but took more than three months to go under contract, while Raintree Harbor's late-1990s houses closed at about $318,000 to $327,000 in about three weeks
- Windy Ridge, Grand Isle and Grand Island Ridge, the mid-range subdivisions in the middle of the area, at about $324,000 to $335,000
- Wedgewood Club, the older subdivision on the west side, built in several additions, at about $235,000 to $306,000, among the least expensive houses here
A few manufactured homes sold too, mostly in Holiday Lakes to the north, at about $125,000. Nothing sold on five acres or more.
Communities in Grand Island with their own page:
- Groves at Grand Island
- Biscayne Heights
- Raintree Harbor
- Grand Isle
- Windy Ridge
- Grand Island Ridge
- Brendenwood
- Grand Terrace
- Grand Island Reserve
- South Lake Yale Shores
- Wedgewood Club
- Biscayne Bluff
- Grand Island Estates
- Grand Island Oaks
Grand Island vs. Eustis vs. Leesburg: The Honest Comparison
| Grand Island | Eustis | Leesburg | |
|---|---|---|---|
| Median asking price | $369,750 | $370,000 | $289,900 |
| Median $/sq ft | $173 | $193 | $169 |
| Mean commute | 28.8 minutes | 26.8 minutes | 24.8 minutes |
| Median household income | $68,503 | $62,475 | $47,506 |
| Population | 5,346 | 23,567 | 28,461 |
Leesburg is the large town to the west, more than half of it age-restricted and with the most waterfront of the three. Eustis is the town to the east on Lake Eustis, with far more acreage and manufactured homes than Grand Island and far more to choose from. Grand Island sits between them on State Road 44 and is the most uniformly suburban of the three: single-family houses in association-run subdivisions, and none on the water.
Schools, Commute, and Day-to-Day Life
Lake County Schools serves the city, and assignment varies by address rather than by city name, so confirm the zoning for the specific property before you buy on a school reputation.
Mean travel time to work is 28.8 minutes, against 26.8 from Eustis.
How Much of Grand Island Is New Construction?
Grand Island has no municipal police agency reporting usable figures to the FBI, so there is no honest city-level crime comparison to publish here, and a number that cannot be sourced is worse than none. What can be measured is the age and type of what is for sale, which is the other question relocation buyers ask.
Across 20 active residential listings, the median asking price is $369,750, or $173 per square foot. Where a town is still building, the per square foot figure runs closer to replacement cost; where it is built out, it reflects land and location instead.
Cost of Living in Grand Island, FL
Housing is the line that moves a Central Florida budget. Grand Island's median asking price is $369,750 against a median household income of $68,503, which puts a home at about 5.40 times household income here. That ratio, rather than the sticker price, is the number worth carrying between towns, and it is why a cheaper town is not automatically a more affordable one.
Florida charges no state income tax, so the property tax line matters more here than it would elsewhere, and a homestead exemption reduces the taxable value of a primary residence. Millage varies by taxing district, so treat any single quoted rate as an estimate until the specific parcel is checked.
Frequently Asked Questions
Is Grand Island, FL a good place to live?
Start with the numbers. Against the 60 places this site tracks across Orange, Seminole, Lake and Volusia counties, the median asking price of $369,750 is lower than most and the mean commute of 28.8 minutes is near the middle. The median household income here is $68,503, which puts housing at 5.40 times income, close to the middle of those places. On local incomes, buying here is about as hard as it is across the group. Who it fits, and who it does not, is laid out at the top of this page.
What is the median home price in Grand Island, FL?
The median sale price was $276,000 in August 2026 across 4 closed sales. Over the last twelve months 99 homes sold at a median of $334,000, down 3.2% against the twelve months before. The median asking price across 20 active listings is $369,750, or $173 per square foot.
Is Grand Island cheaper than Eustis?
On the asking median, about the same: $369,750 against $370,000. Measured against household income, Grand Island is at 5.40 times income and Eustis at 5.92, so on that basis Grand Island is the more affordable of the two. See what $350,000 buys in each town.
What is the cost of living in Grand Island, FL?
Housing is the deciding line. A median asking price of $369,750 against a median household income of $68,503 puts a home at roughly 5.40 times income, and Florida charges no state income tax, which shifts weight onto the property tax line.
What school district serves Grand Island, FL?
Lake County Schools. Assignment varies by address within the city, so confirm the zoning for the specific property.
Thinking About a Move to Grand Island?
I work these four counties every week and I will tell you when a town is wrong for you. If you want the numbers for your budget before you tour anything, start with what $350,000 buys across Grand Island and its neighbors, or call me at 407-616-9019.
You can also browse homes for sale in Grand Island, which updates with current inventory.
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