The housing market in Galena, AK is significantly different than the nationwide average. The median value of a house in Galena is $145,200, much lower than the US House Median Value of $338,100. Likewise, the 1 year appreciation rate for houses in Galena is only 1.58%, far behind the US rate of 8.27%. Despite this slower growth, it appears that the housing market in Galena is still strong and provides a good place to invest for potential homeowners.
The median home cost in Galena is $145,200. Home appreciation the last 10 years has been 43.5%. Home Appreciation in Galena is up 8.2%.
Average Age of Homes
- The median age of Galena real estate is 34 years old
The Rental Market in Galena
- Renters make up 16.8% of the Galena population
- 1.8% of houses and apartments in Galena, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.