Gallatin County, Kentucky Housing Market Prices
Gallatin County Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 827% above the Kentucky median Most expensive county in Kentucky$1,093,774
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Median rent 14% below the Kentucky median$831
Median Home Price Map: Nearby Counties
Housing Market Overview
| Metric | Gallatin County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,093,774 | $118,017 | $248,835 |
| Price Trend (Annual %) | 167.2% | 3.8% | 7.5% |
| Median Gross Rent | $831 | $967 | $1,407 |
| Rent Trend (Annual %) | 2.3% | 4.3% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Gallatin County is about 827% higher than in Kentucky. Rent is about 14% lower than the Kentucky average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Gallatin County, up about 167.2% and 2.3% a year respectively. Home prices are changing faster.
Median rent in Gallatin County rose about 24.3% between 2015 and 2024, from $668 to $831. Over the same span, rent in Kentucky rose about 43.3%.
Affordability
On average, housing unit costs 16.8 yearly household incomes in Gallatin County.
Buying the median-priced home in Gallatin County costs roughly 109.7 years of rent at the median monthly rate. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Gallatin County. The price-to-rent ratio in Kentucky is about 10.2.
| Metric | Gallatin County | Kentucky Avg | US Average |
|---|---|---|---|
| Median Home Price | $1,093,774 | $118,017 | $248,835 |
| Median Household Income | $65,030 | $64,312 | $80,455 |
| Price-to-Income Ratio | 16.8 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Gallatin County rose about 1364.8%, while median household income rose about 49.9% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Gallatin County | Kentucky Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 64.2% | 61.3% | 58.5% |
| Rental Rate | 21.3% | 28.4% | 31.2% |
| Vacancy Rate | 14.4% | 10.3% | 10.2% |
| Median Tenure (years) | 16.0 | 15.0 | 15.0 |
| Median Year Moved In | 2010 | 2011 | 2011 |
Gallatin County has a homeownership rate of 64.2%, higher than the Kentucky average of 61.3%. Its housing vacancy rate is 14.4%, compared with 10.3% in Kentucky.
Housing Stock
| Metric | Gallatin County | Kentucky Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.65 people | 2.43 people | 2.53 people |
| Median Structure Built Year | 1990 | 1981 | 1978 |
| Median Number of Rooms | 5.4 | 5.7 | 5.5 |
The typical housing unit in Gallatin County was built around 1990. On average, 2.7 people live in a home with about 5.4 rooms, staying for about 16.0 years on average.
Gallatin County, KY Housing Compared With Nearby Counties
How Gallatin County, KY compares with the 2 counties closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Gallatin County, KY | 8,769 | $1,093,774 #1/3 | $831 #3/3 | 75.1% #3/3 |
| Boone County, KY | 139,822 | $161,197 | $1,372 | 76.3% |
| Grant County, KY | 25,418 | $141,203 | $861 | 75.1% |
Frequently Asked Questions
Common questions about the housing market in Gallatin County, Kentucky.
What is the median home price in Gallatin County, Kentucky?
The median home price in Gallatin County, Kentucky is $1,093,774, higher than the Kentucky average of $118,017.
What is the average home price in Gallatin County, Kentucky?
The typical home price in Gallatin County, Kentucky, reported as the median sale price, is $1,093,774. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Gallatin County, Kentucky?
The median gross rent in Gallatin County, Kentucky is $831 per month, lower than the Kentucky average of $967.
What was the median gross rent in Gallatin County in 2020?
In 2020, the median gross rent in Gallatin County, Kentucky was $711 per month.
What is the price-to-rent ratio in Gallatin County, Kentucky?
The price-to-rent ratio in Gallatin County, Kentucky is about 109.7, meaning it would take roughly 109.7 years of rent payments at the median rent to equal the median home price. That is a relatively high price-to-rent ratio, which tends to favor renting over buying in Gallatin County.
Are home prices or rent rising faster in Gallatin County, Kentucky?
Both home prices and rent are rising in Gallatin County, up about 167.2% and 2.3% a year respectively. Home prices are changing faster.
What is the homeownership rate in Gallatin County, Kentucky?
64.2% of households in Gallatin County, Kentucky own their home, higher than the Kentucky average of 61.3%.
What is the vacancy rate in Gallatin County, Kentucky?
The housing vacancy rate in Gallatin County, Kentucky is 14.4%, higher than the Kentucky average of 10.3%.
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