Galena, KS
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




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Highest Appreciating Galena Neighborhoods Since 2000




Galena, KS Real Estate Data

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 Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Galena Housing Market Information

With a population of 2,930, 1,040 total housing units (homes and apartments), and a median house value of $58,270, house prices in Galena are some of the most affordable in Kansas as well as the nation.

Single-family detached homes are the single most common housing type in Galena, accounting for 87.56% of the city's housing units. Other types of housing that are prevalent in Galena include duplexes, homes converted to apartments or other small apartment buildings ( 7.04%), mobile homes or trailers ( 4.74%).

Dwellings in Galena tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 52.22% of the homes in Galena have two or fewer bedrooms.

There is a lot of housing in Galena 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 Galena built before 1939 ( 30.89%). A lesser amount of the housing stock also hails from between 1940-1969 ( 30.07%). There's also some housing in Galena built between 2000 and later ( 7.11%).

Vacant housing appears to be an issue in Galena. Fully 22.96% of the housing stock is classified as vacant. Left unchecked, vacant Galena homes and apartments can be a drag on the real estate market, holding Galena real estate prices below levels they could achieve if vacant housing was absorbed into the market and became occupied. Housing vacancy rates are a useful measure to consider, along with other things, if you are a home buyer or a real estate investor.

Galena Home Appreciation Rates

Appreciation rates for homes in Galena have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 9.15%, which ranks in the top 30% nationwide. This equates to an annual average Galena house appreciation rate of 0.88%.

NeighborhoodScout's data show that during the latest twelve months, Galena's appreciation rate, at 3.82%, has been at or slightly above the national average. In the latest quarter, Galena's appreciation rate has been 1.04%, which annualizes to a rate of 4.23%.

Relative to Kansas, our data show that Galena's latest annual appreciation rate is lower than 50% of the other cities and towns in Kansas.

Average Home Values

 

Median Home Value:
$58,270

Galena, KS HOME PRICES

Value Range
> $1,076,000 0.0
$807,001 - $1,076,000 0.0
$538,001 - $807,000 0.0
$431,001 - $538,000 0.0
$323,001 - $431,000 0.0
$215,001 - $323,000 0.8
$108,001 - $215,000 19.9
$54,001 - $108,000 33.0
$0 - $54,000 46.3

Very Low for KS
Very Low for Nation

Value Relative to Nation Value Relative to State
98.3593109105824 97.1631205673759

Number Of Homes And Apartments:
1,040

Galena Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
KS*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
42.69% 2.08% 5 5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$928 / per month

Homeownership Rate

Homeownership
Owners 65.91
Renters 34.09
Vacant 22.96

Housing Market Details

 

Age of Homes

AGE OF Galena HOMES
2000 or Newer 7.1
1970 - 1999 31.9
1940 - 1969 30.1
1939 or Older 30.9

Types of Homes

TYPE OF Galena HOMES
Single-Family 87.6
Townhomes 0.0
Small Apt. Buildings 7.0
Apt. Complexes 0.7
Mobile Homes 4.7
Other 0.0

Home Size

SIZE OF Galena HOMES
No Bedroom 0.00
1 Bedroom 11.48
2 Bedrooms 40.74
3 Bedrooms 39.70
4 Bedrooms 6.81
5 or more bedrooms 1.26