Galway, NY—12074
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Galway, NY
As of Oct '25, the median home price in Galway, NY is $324,000, with a year-over-year change of 1.7%. This indicates that home prices in Galway, NY are increasing. According to Zillow, the 1-year price projection is 1.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $324,000 | 1.7% |
| Single Family | $324,000 | 1.9% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $258,000 | 1.6% |
3 Bed | $340,000 | 1.5% |
4 Bed | $406,000 | 2.3% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Galway, NY
Galway, NY lacks sufficient rental market data for analysis.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,600 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,600 | $1,600 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Galway, NY
As of Oct '25, Realtor.com reports that the median days on market for a home in Galway, NY is 67. This is a decrease of -15.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 50.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $396,000 | 4.0% |
Listing Count | 16 | 15.0% |
| Listings as % of Homes | 0.6% | 15.0% |
Days on Market | 67 | -15.0% |
Demographics — Galway, NY
As of the latest ACS Survey released in 2023, Galway, NY has a population of 2,830, which has decreased by -2.1% over the past 5 years. Galway, NY is a moderately popular place for families, as children make up 15.1% of the population. The area has a moderately educated workforce, with 29.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 2,830 | -2.1% |
% Under 18 | 15.1% | -36.6% |
% Seniors | 19.1% | -8.6% |
% WFH | 8.4% | -1.2% |
% w/ College Degree | 29.0% | -18.5% |
As of the latest ACS Survey released in 2023, Galway, NY is a predominantly white area, with 94.1% of the population identifying as white. The white population has grown by 0.2% in the last 5 years. The second most common race or ethnicity in Galway, NY is hispanic, making up 3.5% of the population. Foreign-born residents account for 2.6% of the population in Galway, NY, and this percentage has decreased by 25.7% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 94.1% | 0.2% |
% Black | 0.0% | -100.0% |
% Hispanic | 3.5% | -20.5% |
% Asian | 0.5% | -44.4% |
% Foreign Born | 2.6% | -25.7% |
Mortgage and Risk — Galway, NY
According to HUD data as of 2023, there were 69 mortgage originations in Galway, NY, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 23.0% above 90% LTV (very high). This implies large mortgage risk in Galway, NY. Investor activity is low, as 0.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 69 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 0.0% |
% Second Loans | 6.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Galway, NY
Galway, NY lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 12 |
Total Units Section 8 | 12 |
% Rentals under Section 8 | 7.5% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,300 |
| 2 Bedroom | -$30 | $1,600 | $1,570 |
| 3 Bedroom | N/A | N/A | $1,890 |
| 4 Bedroom | N/A | N/A | $2,080 |
Affordability — Galway, NY
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $324,000 |
| Median Household Income | $91,900 |