Market Overview
Home Prices in Galena, IL
The median home value in Galena, IL is $315,193 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 2.4% compared to a year ago and up 5.3% from two years prior.
Compared to the U.S. national median of $410,000, homes in Galena are priced23% below average.
Over the past five years, Galena home values have risen by approximately56.2%, reflecting strong long-term appreciation in this market.
Price History
Galena Home Price Trend
2020
$173,183
$173K
—
2021
$201,769
$202K
+16.5%
2022
$265,749
$266K
+31.7%
2023
$265,680
$266K
+-0.0%
2024
$292,235
$292K
+10.0%
2025
$307,719
$308K
+5.3%
2026
$315,193
$315K
+2.4%
City Comparison
Galena vs. National Median
🏠 Galena
$315,193
National Median
$410,000
At $315,193, homes in Galena cost 23% below the national median of $410,000. This makes Galena a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Galena?
20% Down Payment
$63,039
on $315,193
Monthly P&I
$1,644/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,088/mo
incl. taxes & insurance
Income Needed
$83,520
gross annual (30% rule)
10% Down Option
$31,519
+ PMI applies
Loan Amount (20% dn)
$252,154
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Galena, IL?
The median home value in Galena is $315,193 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 2.4% year-over-year.
How much have home prices changed in Galena?
Over the past year, home values in Galena have increased by 2.4%. Over five years, prices have risen approximately 56.2%.
How much do I need to earn to buy a home in Galena?
To comfortably afford the median home price of $315,193 with a 20% down payment ($63,039) at today's rates (6.8%), you'd need a gross annual income of approximately $83,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Galena compare to the national average home price?
The national median home value is approximately $410,000. At $315,193, homes in Galena are 23% below the national average.