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
With 34,334 people, 12,037 houses or apartments, and a median cost of homes of $178,099, Gallatin real estate prices are well above average cost compared to national prices.
Single-family detached homes are the single most common housing type in Gallatin, accounting for 64.16% of the city's housing units. Other types of housing that are prevalent in Gallatin include large apartment complexes or high rise apartments ( 17.81%), row houses and other attached homes ( 6.08%), and a few mobile homes or trailers ( 6.00%).
The most prevalent building size and type in Gallatin are three and four bedroom dwellings, chiefly found in single-family detached homes. The city has a mixture of owners and renters, with 56.21% owning and 43.79% renting.
There is a lot of housing in Gallatin 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 Gallatin built between 2000 and later ( 35.34%). A lesser amount of the housing stock also hails from between 1940-1969 ( 21.68%). There's also some housing in Gallatin built before 1939 ( 3.72%).
In the last 10 years, Gallatin has experienced some of the highest home appreciation rates of any community in the nation. Gallatin real estate appreciated 16.91% over the last ten years, which is an average annual home appreciation rate of 1.57%, putting Gallatin in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Gallatin definitely has a track record of being one of the best long term real estate investments in America through the last ten years.
Appreciation rates are so strong in Gallatin that despite a nationwide downturn in the housing market, Gallatin real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Gallatin appreciation rates continue to be some of the highest in America, at 7.75%, which is higher than appreciation rates in 85.54% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Gallatin. Gallatin appreciation rates in the latest quarter were at 2.76%, which equates to an annual appreciation rate of 11.51%.
Importantly, this makes Gallatin 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 Tennessee, our data show that Gallatin's latest annual appreciation rate is higher than 80% of the other cities and towns in Tennessee.
One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Gallatin differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Gallatin - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Gallatin real estate investment or home purchase decisions.
|$919,001 - $1,226,000||1.3|
|$613,001 - $919,000||3.4|
|$490,001 - $613,000||3.0|
|$368,001 - $490,000||7.2|
|$245,001 - $368,000||12.9|
|$123,001 - $245,000||47.3|
|$61,001 - $123,000||18.4|
|$0 - $61,000||5.3|
|Value Relative to Nation||Value Relative to State|
|Time Period||Total Appreciation||Avg. Annual Rate||
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
2000 Q1 - 2017 Q1
|* 10 is highest|
|AGE OF Gallatin HOMES|
|2000 or Newer||35.3|
|1970 - 1999||39.3|
|1940 - 1969||21.7|
|1939 or Older||3.7|
|TYPE OF Gallatin HOMES|
|Small Apt. Buildings||6.0|
|SIZE OF Gallatin HOMES|
|5 or more bedrooms||2.90|