Galena Park, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
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Highest Appreciating Galena Park Neighborhoods Since 2000




Galena Park, TX 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 Park Housing Market Information

With a population of 11,162, 2,965 total housing units (homes and apartments), and a median house value of $79,529, house prices in Galena Park are some of the most affordable in Texas as well as the nation.

Single-family detached homes are the single most common housing type in Galena Park, accounting for 88.63% of the city's housing units. Other types of housing that are prevalent in Galena Park include duplexes, homes converted to apartments or other small apartment buildings ( 4.79%), large apartment complexes or high rise apartments ( 3.80%), and a few row houses and other attached homes ( 2.01%).

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 Park. Owner-occupied housing accounts for 66.61% of Galena Park's homes, and 68.83% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Galena Park's housing was primarily built during this period, from the '40s through the '60s. A full 82.47% of the city's housing hails from this era. Other housing ages represented in Galena Park include homes built between 1970-1999 ( 12.74%) and housing constructed between 2000 and later ( 2.87%). There's also some housing in Galena Park built before 1939 ( 1.92%).

Galena Park Home Appreciation Rates

In the last 10 years, Galena Park has experienced some of the highest home appreciation rates of any community in the nation. Galena Park real estate appreciated 29.83% over the last ten years, which is an average annual home appreciation rate of 2.65%, putting Galena Park in the top 10% nationally for real estate appreciation. If you are a home buyer or real estate investor, Galena Park 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 Galena Park that despite a nationwide downturn in the housing market, Galena Park real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Galena Park appreciation rates continue to be some of the highest in America, at 7.10%, which is higher than appreciation rates in 81.90% 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 Park. Galena Park appreciation rates in the latest quarter were at -0.09%, which equates to an annual appreciation rate of -0.38%.

Relative to Texas, our data show that Galena Park's latest annual appreciation rate is higher than 70% of the other cities and towns in Texas.

Average Home Values

 

Median Home Value:
$79,529

Galena Park, TX HOME PRICES

Value Range
> $1,196,000 0.2
$897,001 - $1,196,000 0.0
$598,001 - $897,000 0.0
$479,001 - $598,000 0.0
$359,001 - $479,000 0.0
$239,001 - $359,000 0.4
$119,001 - $239,000 11.8
$60,001 - $119,000 67.0
$0 - $60,000 20.6

Very Low for TX
Very Low for Nation

Value Relative to Nation Value Relative to State
90.8033516934255 83.5603112840467

Number Of Homes And Apartments:
2,965

Galena Park Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
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
83.74% 3.59% 8 9
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,145 / per month

Homeownership Rate

Homeownership
Owners 66.61
Renters 33.39
Vacant 5.30

Housing Market Details

 

Age of Homes

AGE OF Galena Park HOMES
2000 or Newer 2.9
1970 - 1999 12.7
1940 - 1969 82.5
1939 or Older 1.9

Types of Homes

TYPE OF Galena Park HOMES
Single-Family 88.6
Townhomes 2.0
Small Apt. Buildings 4.8
Apt. Complexes 3.8
Mobile Homes 0.8
Other 0.0

Home Size

SIZE OF Galena Park HOMES
No Bedroom 0.54
1 Bedroom 5.88
2 Bedrooms 23.57
3 Bedrooms 55.48
4 Bedrooms 13.35
5 or more bedrooms 1.18