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 a population of 468, 186 total housing units (homes and apartments), and a median house value of $293,913, Galena real estate and house prices are near the national average for all cities and towns.
Single-family detached homes are the single most common housing type in Galena, accounting for 77.78% of the city's housing units. Other types of housing that are prevalent in Galena include large apartment complexes or high rise apartments ( 10.19%), mobile homes or trailers ( 8.80%), and a few row houses and other attached homes ( 3.24%).
Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Galena. Owner-occupied housing accounts for 68.10% of Galena's homes, and 48.15% have either three or four bedrooms, which is average sized relative to America.
The housing in Galena was primarily built before 1939 ( 37.04%), making the housing stock in Galena some of the oldest overall in America, although there is a range of ages of homes in Galena. The next most important housing age is between 1970-1999 ( 30.09%), followed by between 1940-1969 ( 24.54%). There's also some housing in Galena built between 2000 and later ( 8.33%).
Vacant housing appears to be an issue in Galena. Fully 13.89% 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.
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 95.19%, which ranks in the top 40% nationwide. This equates to an annual average Galena house appreciation rate of 6.92%.
Appreciation rates are so strong in Galena that despite a nationwide downturn in the housing market, Galena real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Galena appreciation rates continue to be some of the highest in America, at 6.67%, which is higher than appreciation rates in 71.33% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Galena. Galena appreciation rates in the latest quarter were at 0.31%, which equates to an annual appreciation rate of 1.23%.
Relative to Missouri, our data show that Galena's latest annual appreciation rate is higher than 60% of the other cities and towns in Missouri.
$293,913
for Missouri
for nation
186
$1,150 / per month