Galveston, Texas Housing Market Prices
Galveston 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 43% above the Texas median$370,180
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Median rent 8% below the Texas median$1,294
Housing Market Overview
| Metric | Galveston | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $370,180 | $258,873 | $248,835 |
| Price Trend (Annual %) | 8.3% | 9.2% | 7.5% |
| Median Gross Rent | $1,294 | $1,402 | $1,407 |
| Rent Trend (Annual %) | 5.2% | 5.6% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Galveston is about 43% higher than in Texas. Rent is about 8% lower than the Texas 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 Galveston, up about 8.3% and 5.2% a year respectively. Home prices are changing faster.
Median rent in Galveston rose about 53.2% between 2015 and 2024, from $845 to $1,294. Over the same span, rent in Texas rose about 59.1%.
Affordability
On average, housing unit costs 6.9 yearly household incomes in Galveston.
Buying the median-priced home in Galveston costs roughly 23.8 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 Galveston. The price-to-rent ratio in Texas is about 15.4.
| Metric | Galveston | Texas Avg | US Average |
|---|---|---|---|
| Median Home Price | $370,180 | $258,873 | $248,835 |
| Median Household Income | $53,728 | $78,939 | $80,455 |
| Price-to-Income Ratio | 6.9 | 3.3 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Galveston rose about 52.1%, while median household income rose about 47.4% 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 | Galveston | Texas Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 32.6% | 56.7% | 58.5% |
| Rental Rate | 40.0% | 33.9% | 31.2% |
| Vacancy Rate | 27.4% | 9.4% | 10.2% |
| Median Tenure (years) | 10.0 | 14.0 | 15.0 |
| Median Year Moved In | 2016 | 2012 | 2011 |
Galveston has a homeownership rate of 32.6%, lower than the Texas average of 56.7%. Its housing vacancy rate is 27.4%, compared with 9.4% in Texas.
Housing Stock
| Metric | Galveston | Texas Avg | US Average |
|---|---|---|---|
| Average Household Size | 1.97 people | 2.69 people | 2.53 people |
| Median Structure Built Year | 1965 | 1990 | 1978 |
| Median Number of Rooms | 4.4 | 5.4 | 5.5 |
The typical housing unit in Galveston was built around 1965. On average, 2.0 people live in a home with about 4.4 rooms, staying for about 10.0 years on average.
Frequently Asked Questions
Common questions about the housing market in Galveston, Texas.
What is the median home price in Galveston, Texas?
The median home price in Galveston, Texas is $370,180, higher than the Texas average of $258,873.
What is the average home price in Galveston, Texas?
The typical home price in Galveston, Texas, reported as the median sale price, is $370,180. 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 Galveston, Texas?
The median gross rent in Galveston, Texas is $1,294 per month, lower than the Texas average of $1,402.
What was the median gross rent in Galveston in 2020?
In 2020, the median gross rent in Galveston, Texas was $1,024 per month.
What is the price-to-rent ratio in Galveston, Texas?
The price-to-rent ratio in Galveston, Texas is about 23.8, meaning it would take roughly 23.8 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 Galveston.
Are home prices or rent rising faster in Galveston, Texas?
Both home prices and rent are rising in Galveston, up about 8.3% and 5.2% a year respectively. Home prices are changing faster.
What is the homeownership rate in Galveston, Texas?
32.6% of households in Galveston, Texas own their home, lower than the Texas average of 56.7%.
What is the vacancy rate in Galveston, Texas?
The housing vacancy rate in Galveston, Texas is 27.4%, higher than the Texas average of 9.4%.
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