Galveston, TX
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Galveston Neighborhoods Since 2000




Galveston, TX Real Estate Data


Galveston Housing Market Information

With a population of 50,180, 20,401 total housing units (homes and apartments), and a median house value of $175,336, Galveston 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 Galveston, accounting for 56.02% of the city's housing units. Other types of housing that are prevalent in Galveston include large apartment complexes or high rise apartments ( 31.64%), duplexes, homes converted to apartments or other small apartment buildings ( 10.50%), and a few row houses and other attached homes ( 1.62%).

People in Galveston primarily live in small (one, two or no bedroom) single-family detached homes. Galveston has a mixture of owner-occupied and renter-occupied housing.

There is a lot of housing in Galveston 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 Galveston built between 1940-1969 ( 28.23%). A lesser amount of the housing stock also hails from before 1939 ( 19.53%). There's also some housing in Galveston built between 2000 and later ( 12.58%).

Vacant housing appears to be an issue in Galveston. Fully 37.94% of the housing stock is classified as vacant. Left unchecked, vacant Galveston homes and apartments can be a drag on the real estate market, holding Galveston 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.

Galveston Home Appreciation Rates

In the last 10 years, Galveston has experienced some of the highest home appreciation rates of any community in the nation. Galveston real estate appreciated 19.43% over the last ten years, which is an average annual home appreciation rate of 1.79%, putting Galveston in the top 20% nationally for real estate appreciation. If you are a home buyer or real estate investor, Galveston definitely has a track record of being one of the best long term real estate investments in America through the last ten years.

Over the last year, Galveston appreciation rates have trailed the rest of the nation. In the last twelve months, Galveston's appreciation rate has been 3.69%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Galveston were at 1.83%, which equates to an annual appreciation rate of 7.53%.

Relative to Texas, our data show that Galveston's latest annual appreciation rate is lower than 80% of the other cities and towns in Texas.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Galveston differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Galveston - 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 Galveston real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$175,336

Galveston, TX HOME PRICES

Value Range
> $1,251,000 0.2
$939,001 - $1,251,000 1.3
$626,001 - $939,000 1.3
$501,001 - $626,000 2.1
$375,001 - $501,000 5.4
$250,001 - $375,000 14.0
$125,001 - $250,000 38.3
$63,001 - $125,000 27.2
$0 - $63,000 10.2

High for TX
Average for Nation

Value Relative to Nation Value Relative to State
40.867833928676 24.1747572815534

Number Of Homes And Apartments:
20,401

Rent & Ownership

 

Average Market Rent:
$999 / per month

Homeownership Rate

Homeownership
Owners 41.91
Renters 58.09
Vacant 37.94

Housing Market Details

 

Age of Homes

AGE OF Galveston HOMES
2000 or Newer 12.6
1970 - 1999 39.7
1940 - 1969 28.2
1939 or Older 19.5

Types of Homes

TYPE OF Galveston HOMES
Single-Family 56.0
Townhomes 1.6
Small Apt. Buildings 10.5
Apt. Complexes 31.6
Mobile Homes 0.2
Other 0.0

Home Size

SIZE OF Galveston HOMES
No Bedroom 2.45
1 Bedroom 22.09
2 Bedrooms 37.12
3 Bedrooms 28.49
4 Bedrooms 8.28
5 or more bedrooms 1.57

Galveston Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
TX*
Compared To
America*
Latest Quarter:
2016 Q2 - 2016 Q3
Last 12 Months:
2015 Q4 - 2016 Q3
Last 2 Years:
2014 Q4 - 2016 Q3
Last 5 Years:
2011 Q4 - 2016 Q3
Last 10 Years:
2006 Q4 - 2016 Q3
Since 2000:
2000 Q1 - 2016 Q3
100.89% 4.19% 9 10
* 10 is highest