Greater Galesburg, MI 49053 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Greater Galesburg, MI—49053

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$276,000

2.8% YoY Growth

Household Income

$80,100

30.5% YoY Growth

Days on Market

36.0% Shorter YoY

Home Price Forecast

1.9%

Median Rent

$975

9.4% YoY Growth

1-Bed Rent

$850

N/A

2-Bed Rent

$975

45.3% YoY Growth

3-Bed Rent

N/A

Home Price Trends — Greater Galesburg, MI

As of Dec '25, the median home price in Greater Galesburg, MI is $276,000, with a year-over-year change of 2.8%. This indicates that home prices in Greater Galesburg, MI are increasing. According to Zillow, the 1-year price projection is 1.9%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$276,000	2.8%
Single Family	$274,000	3.0%
Condos	N/A	N/A

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Greater Galesburg, MI

As of July '25, Rentcast reports the average rent in Greater Galesburg, MI is $1,280, with a year-over-year rent change of 9.4%. Per bedroom, the median rent as of July '25 in Greater Galesburg, MI is studios: $2,500, 1-bedrooms: $862, 2-bedrooms: $1,090. The most common rental property sizes in Greater Galesburg, MI are 3-bedroom and 2-bedroom, accounting for 42.1% and 31.1% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$975	$1,280
Studio Rent	$2,500	$2,500
1 Bed Rent	$850	$862
2 Bed Rent	$975	$1,090
3 Bed Rent	N/A	N/A
4 Bed Rent	N/A	N/A

Loading chart...

% of Rental Stock

Studio

0.9%

1 Bedroom

19.0%

2 Bedrooms

31.1%

3 Bedrooms

42.1%

4 Bedrooms

4.9%

5+ Bedrooms

2.0%

Property Listings — Greater Galesburg, MI

As of Dec '25, Realtor.com reports that the median days on market for a home in Greater Galesburg, MI is 45. This is a decrease of -26.0% 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 14.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$290,000	-29.0%
Listing Count	24	-12.0%
Listings as % of Homes	0.3%	-12.0%
Days on Market	41	-36.0%

Loading chart...

Demographics — Greater Galesburg, MI

As of the latest ACS Survey released in 2023, Greater Galesburg, MI has a population of 7,260, which has decreased by -2.9% over the past 5 years. Greater Galesburg, MI is a moderately popular place for families, as children make up 24.3% of the population. The area has a moderately educated workforce, with 31.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 8.5% reporting working from home.

Metric	Latest Census	YoY % Change
Population	7,260	-2.9%
% Under 18	24.3%	-12.0%
% Seniors	18.6%	45.3%
% WFH	8.5%	123.7%
% w/ College Degree	31.4%	6.1%

Loading chart...

As of the latest ACS Survey released in 2023, Greater Galesburg, MI is a predominantly white area, with 90.0% 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 Greater Galesburg, MI is hispanic, making up 3.8% of the population. Foreign-born residents account for 0.8% of the population in Greater Galesburg, MI, and this percentage has decreased by 70.4% 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	90.0%	0.2%
% Black	2.2%	-24.1%
% Hispanic	3.8%	-9.5%
% Asian	0.0%	-100.0%
% Foreign Born	0.8%	-70.4%

Loading chart...

Mortgage and Risk — Greater Galesburg, MI

According to HUD data as of 2023, there were 216 mortgage originations in Greater Galesburg, MI, of which 85.0% of loans were conventional mortgages. The average loan-to-value was 59.0%, with 28.0% above 90% LTV (very high). This implies large mortgage risk in Greater Galesburg, MI. Investor activity is low, as 1.0% 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	216
% Conventional Loans	85.0%
% Government Loans	15.0%
% Investor Loans	1.0%
% Second Loans	0.0%
% Cash Out Refinance	12.0%

Loading chart...

Rentals and Section 8 — Greater Galesburg, MI

Greater Galesburg, MI lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	38
Total Units Section 8	38
% Rentals under Section 8	10.7%
% Occupied Section 8	92.0%

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	-$50	$850	$800
2 Bedroom	-$15	$975	$960
3 Bedroom	N/A	N/A	$1,280
4 Bedroom	N/A	N/A	$1,340

Greater Galesburg, MI—49053

Key Metrics at a Glance

Home Price Trends — Greater Galesburg, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Greater Galesburg, MI

% of Rental Stock

Property Listings — Greater Galesburg, MI

Demographics — Greater Galesburg, MI

Race and Ethnicity

Mortgage and Risk — Greater Galesburg, MI

Mortgages

Rentals and Section 8 — Greater Galesburg, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Greater Galesburg, MI

Home Price to Income Ratio

Greater Galesburg, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Comstock, MI

Augusta, MI

Richland, MI

Climax, MI

Scotts, MI

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3
Median Home Price	$276,000
Median Household Income	$80,100

Greater Galesburg, MI—49053

Key Metrics at a Glance

Home Price Trends — Greater Galesburg, MI

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Greater Galesburg, MI

% of Rental Stock

Property Listings — Greater Galesburg, MI

Demographics — Greater Galesburg, MI

Race and Ethnicity

Mortgage and Risk — Greater Galesburg, MI

Mortgages

Rentals and Section 8 — Greater Galesburg, MI

Section 8 Market Size

Section 8 Opportunity

Affordability — Greater Galesburg, MI

Home Price to Income Ratio

Greater Galesburg, MI — ZIP Code Boundary Map

Nearby ZIP Codes

Comstock, MI

Augusta, MI

Richland, MI

Climax, MI

Scotts, MI

Frequently Asked Questions

What is the average home price in Greater Galesburg, MI 49053?

How have home prices in Greater Galesburg, MI 49053 changed over the past year?

What is the home price projection for Greater Galesburg, MI 49053?

What are the demographics of Greater Galesburg, MI 49053?

How long does it take homes to sell in Greater Galesburg, MI 49053?

What is the average rent price in Greater Galesburg, MI 49053?