Gallatin, Tennessee Housing Market Prices
Gallatin 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.
-
Median home price 36% above the Tennessee median$348,996
-
Median rent 13% above the Tennessee median$1,337
Housing Market Overview
| Metric | Gallatin | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $348,996 | $255,786 | $248,835 |
| Price Trend (Annual %) | 24.6% | 9.9% | 7.5% |
| Median Gross Rent | $1,337 | $1,188 | $1,407 |
| Rent Trend (Annual %) | 6.2% | 5.4% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Gallatin is about 36% higher than in Tennessee. Rent is about 13% higher than the Tennessee 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, up about 24.6% and 6.2% a year respectively. Home prices are changing faster.
Median rent in Gallatin rose about 60.8% between 2015 and 2024, from $832 to $1,337. Over the same span, rent in Tennessee rose about 55.6%.
Affordability
On average, housing unit costs 4.9 yearly household incomes in Gallatin.
Buying the median-priced home in Gallatin costs roughly 21.7 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. The price-to-rent ratio in Tennessee is about 17.9.
| Metric | Gallatin | Tennessee Avg | US Average |
|---|---|---|---|
| Median Home Price | $348,996 | $255,786 | $248,835 |
| Median Household Income | $70,929 | $69,901 | $80,455 |
| Price-to-Income Ratio | 4.9 | 3.7 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Gallatin rose about 135.6%, while median household income rose about 50.2% 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 | Tennessee Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 52.7% | 60.1% | 58.5% |
| Rental Rate | 41.8% | 29.7% | 31.2% |
| Vacancy Rate | 5.6% | 10.2% | 10.2% |
| Median Tenure (years) | 10.0 | 14.0 | 15.0 |
| Median Year Moved In | 2016 | 2012 | 2011 |
Gallatin has a homeownership rate of 52.7%, lower than the Tennessee average of 60.1%. Its housing vacancy rate is 5.6%, compared with 10.2% in Tennessee.
Housing Stock
| Metric | Gallatin | Tennessee Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.42 people | 2.45 people | 2.53 people |
| Median Structure Built Year | 1996 | 1986 | 1978 |
| Median Number of Rooms | 5.4 | 5.7 | 5.5 |
The typical housing unit in Gallatin was built around 1996. On average, 2.4 people live in a home with about 5.4 rooms, staying for about 10.0 years on average.
Gallatin, TN Housing Compared With Nearby Cities
How Gallatin, TN compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Gallatin, TN | 36,320 | $348,996 #2/2 | $1,337 #2/2 | 55.8% #2/2 |
| Hendersonville, TN | 57,282 | $450,000 | $1,654 | 71.1% |
Frequently Asked Questions
Common questions about the housing market in Gallatin, Tennessee.
What is the median home price in Gallatin, Tennessee?
The median home price in Gallatin, Tennessee is $348,996, higher than the Tennessee average of $255,786.
What is the average home price in Gallatin, Tennessee?
The typical home price in Gallatin, Tennessee, reported as the median sale price, is $348,996. 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, Tennessee?
The median gross rent in Gallatin, Tennessee is $1,337 per month, higher than the Tennessee average of $1,188.
What was the median gross rent in Gallatin in 2020?
In 2020, the median gross rent in Gallatin, Tennessee was $940 per month.
What is the price-to-rent ratio in Gallatin, Tennessee?
The price-to-rent ratio in Gallatin, Tennessee is about 21.7, meaning it would take roughly 21.7 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.
Are home prices or rent rising faster in Gallatin, Tennessee?
Both home prices and rent are rising in Gallatin, up about 24.6% and 6.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Gallatin, Tennessee?
52.7% of households in Gallatin, Tennessee own their home, lower than the Tennessee average of 60.1%.
What is the vacancy rate in Gallatin, Tennessee?
The housing vacancy rate in Gallatin, Tennessee is 5.6%, lower than the Tennessee average of 10.2%.
Analyze any area in the US
Get local demographics for any address, aggregated by drive time or radius, on the interactive map.
Explore the map →