Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$180,866+7.0% YoY · prices are rising fast
Market right nowBalanced, leaning sellersFewer homes for sale than last year, 20% have cut their price
Income needed to buy, per year$39,208About 1.0× the local median income ($38,922): a stretch for a typical household
Days on market53 daysFaster than a year ago: sellers have the edge
The typical home in Galax City, VA is worth $180,866, up 7.0% from a year ago. That is well above what local incomes have historically supported: fair value is about $124,317, so the area is 45.5% overvalued. It is a balanced market, leaning toward sellers: homes take about 53 days to sell, listings are down 23% from a year ago, 20% of listings have had a price cut. A household needs about $39,208 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $38,922. In the latest IRS figures, 14 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$180,866
Change in 1 year
+7.0%
Overvalued %
+45.5%
Show 6 more
Fair home value
$124,317
Change in 5 years
+40.1%
Home value to income
4.6×
Monthly mortgage payment (20% down)
$980
Income needed to afford it
$39,208
Property tax rate
0.76%
Rent and investing
HUD Fair Market Rent, 2 bedrooms
$943
Market activity
Listings vs a year ago
−22.6%
Days on market
53
Listings with a price cut
20.5%
Show 3 more
Homes for sale
24
Pending sales per 100 listings
29
Asking price per sq ft
$151
People and jobs
Median household income
$38,922
Population change (1 year)
−0.5%
Unemployment rate
5.1%
Show 4 more
Population
6,670
Income adjusted for cost of living
$44,029
Net moves in (IRS)
−14
Cost of living (US = 100)
88.4
Schools, risk and environment
School rating (1 to 10)
6.5
FEMA hazard risk score (0 to 100)
6.8
Flood risk score
13.2
Show 3 more
Wildfire risk score
23.7
Walkability (1 to 20)
8.3
Road, rail and air noise
53 dB
Questions people ask
Is Galax City, VA overvalued?
Home prices in Galax City, VA are well above what local incomes have historically supported: fair value is about $124,317, so the area is 45.5% overvalued.
Is Galax City, VA a buyer's or seller's market?
Galax City, VA is a balanced market, leaning toward sellers: homes take about 53 days to sell, listings are down 23% from a year ago, 20% of listings have had a price cut.
Are home prices going down in Galax City, VA?
Home values in Galax City, VA are up 7.0% over the last year.
How much do you need to earn to buy a home in Galax City, VA?
A household needs about $39,208 a year to afford the typical home in Galax City, VA at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $38,922.