Galveston, TX—77551
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Galveston, TX
As of Oct '25, the median home price in Galveston, TX is $247,000, with a year-over-year change of -7.9%. This indicates that home prices in Galveston, TX are decreasing. According to Zillow, the 1-year price projection is -0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $247,000 | -7.9% |
| Single Family | $255,000 | -7.6% |
| Condos | $161,000 | -18.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $134,000 | -22.5% |
2 Bed | $244,000 | -8.6% |
3 Bed | $281,000 | -7.9% |
4 Bed | $379,000 | -8.0% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Galveston, TX
As of July '25, Rentcast reports the average rent in Galveston, TX is $1,660, with a year-over-year rent change of 1.8%. Per bedroom, the median rent as of July '25 in Galveston, TX is studios: $1,720, 1-bedrooms: $1,150, 2-bedrooms: $1,660, 3-bedrooms: $2,410, 4-bedrooms: $2,390. The most common rental property sizes in Galveston, TX are 2-bedroom and 1-bedroom, accounting for 47.7% and 34.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,490 | $1,660 |
| Studio Rent | $931 | $1,720 |
| 1 Bed Rent | $1,140 | $1,150 |
| 2 Bed Rent | $1,560 | $1,660 |
| 3 Bed Rent | $2,400 | $2,410 |
| 4 Bed Rent | $2,200 | $2,390 |
% of Rental Stock
Property Listings — Galveston, TX
As of Oct '25, Realtor.com reports that the median days on market for a home in Galveston, TX is 91. This is a increase of 8.0% 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 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $265,000 | -4.0% |
Listing Count | 323 | 19.0% |
| Listings as % of Homes | 1.2% | 19.0% |
Days on Market | 91 | 8.0% |
Demographics — Galveston, TX
As of the latest ACS Survey released in 2023, Galveston, TX has a population of 22,000, which has remained stable by 0.8% over the past 5 years. Galveston, TX is a moderately popular place for families, as children make up 19.3% of the population. The area has a moderately educated workforce, with 29.3% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 9.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 22,000 | 0.8% |
% Under 18 | 19.3% | 1.0% |
% Seniors | 18.0% | 33.3% |
% WFH | 9.6% | 405.3% |
% w/ College Degree | 29.3% | 24.7% |
As of the latest ACS Survey released in 2023, Galveston, TX is a predominantly white area, with 47.0% of the population identifying as white. The white population has grown by 13.0% in the last 5 years. The second most common race or ethnicity in Galveston, TX is hispanic, making up 34.9% of the population. Foreign-born residents account for 16.5% of the population in Galveston, TX, and this percentage has decreased by 0.6% 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 | 47.0% | 13.0% |
% Black | 14.0% | -23.9% |
% Hispanic | 34.9% | -6.2% |
% Asian | 1.9% | -9.5% |
% Foreign Born | 16.5% | -0.6% |
Mortgage and Risk — Galveston, TX
According to HUD data as of 2023, there were 223 mortgage originations in Galveston, TX, of which 86.0% of loans were conventional mortgages. The average loan-to-value was 73.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Galveston, TX. Investor activity is low, as 10.0% 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 | 223 |
% Conventional Loans | 86.0% |
% Government Loans | 14.0% |
% Investor Loans | 10.0% |
% Second Loans | 10.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Galveston, TX
As of 2024, the percent of homes in Galveston, TX under the Section 8 program is 15.7%. This is considered high, suggesting that the neighborhood is heavily composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Galveston, TX, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,032 |
Total Units Section 8 | 859 |
% Rentals under Section 8 | 15.7% |
% Occupied Section 8 | 96.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $130 | $1,140 | $1,270 |
| 2 Bedroom | -$40 | $1,560 | $1,520 |
| 3 Bedroom | -$370 | $2,400 | $2,030 |
| 4 Bedroom | $350 | $2,200 | $2,550 |
Affordability — Galveston, TX
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 4.6 |
| Median Home Price | $247,000 |
| Median Household Income | $59,800 |