Gallatin, TN—37066
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Gallatin, TN
As of Oct '25, the median home price in Gallatin, TN is $436,000, with a year-over-year change of 0.3%. This indicates that home prices in Gallatin, TN are flat. According to Zillow, the 1-year price projection is 1.3%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $436,000 | 0.3% |
| Single Family | $441,000 | 0.2% |
| Condos | $348,000 | 0.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $346,000 | -0.6% |
3 Bed | $407,000 | -0.2% |
4 Bed | $619,000 | 1.3% |
| 5 Bed | $861,000 | 2.5% |
% of Housing Stock
Rental Trends — Gallatin, TN
As of July '25, Rentcast reports the average rent in Gallatin, TN is $2,060, with a year-over-year rent change of 2.5%. Per bedroom, the median rent as of July '25 in Gallatin, TN is studios: $895, 1-bedrooms: $1,290, 2-bedrooms: $1,450, 3-bedrooms: $2,240, 4-bedrooms: $2,780. The most common rental property sizes in Gallatin, TN are 2-bedroom and 3-bedroom, accounting for 40.4% and 30.0% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,100 | $2,060 |
| Studio Rent | $895 | $895 |
| 1 Bed Rent | $1,290 | $1,290 |
| 2 Bed Rent | $1,300 | $1,450 |
| 3 Bed Rent | $2,150 | $2,240 |
| 4 Bed Rent | $2,560 | $2,780 |
% of Rental Stock
Property Listings — Gallatin, TN
As of Oct '25, Realtor.com reports that the median days on market for a home in Gallatin, TN is 49. This is a increase of 18.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 22.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $479,000 | 5.0% |
Listing Count | 663 | 33.0% |
| Listings as % of Homes | 1.2% | 33.0% |
Days on Market | 49 | 18.0% |
Demographics — Gallatin, TN
As of the latest ACS Survey released in 2023, Gallatin, TN has a population of 62,400, which has increased by 24.0% over the past 5 years. Gallatin, TN is a moderately popular place for families, as children make up 23.2% of the population. The area has a moderately educated workforce, with 33.5% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 14.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 62,400 | 24.0% |
% Under 18 | 23.2% | -1.7% |
% Seniors | 17.8% | 9.2% |
% WFH | 14.0% | 105.9% |
% w/ College Degree | 33.5% | 24.5% |
As of the latest ACS Survey released in 2023, Gallatin, TN is a predominantly white area, with 69.1% of the population identifying as white. The white population has shrunk by 9.3% in the last 5 years. The second most common race or ethnicity in Gallatin, TN is black, making up 14.8% of the population. Foreign-born residents account for 5.6% of the population in Gallatin, TN, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 69.1% | -9.3% |
% Black | 14.8% | 24.4% |
% Hispanic | 10.8% | 45.9% |
% Asian | 1.5% | -16.7% |
% Foreign Born | 5.6% | 0.0% |
Mortgage and Risk — Gallatin, TN
According to HUD data as of 2023, there were 1760 mortgage originations in Gallatin, TN, of which 76.0% of loans were conventional mortgages. The average loan-to-value was 61.0%, with 27.0% above 90% LTV (very high). This implies large mortgage risk in Gallatin, TN. Investor activity is low, as 2.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 1,760 |
% Conventional Loans | 76.0% |
% Government Loans | 24.0% |
% Investor Loans | 2.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Gallatin, TN
As of 2024, the percent of homes in Gallatin, TN under the Section 8 program is 11.9%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 2-bedroom units appear to be good home sizes to consider for Section 8 housing in Gallatin, TN, because HUD payments exceed market rent, while 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,398 |
Total Units Section 8 | 1,004 |
% Rentals under Section 8 | 11.9% |
% Occupied Section 8 | 86.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $100 | $1,290 | $1,390 |
| 2 Bedroom | $240 | $1,300 | $1,540 |
| 3 Bedroom | -$200 | $2,150 | $1,950 |
| 4 Bedroom | -$170 | $2,560 | $2,390 |
Affordability — Gallatin, TN
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 5.7 |
| Median Home Price | $436,000 |
| Median Household Income | $78,000 |