Total monthly cost of ownership
Cost to Own a Home in Galena, Indiana
A $269,000 home here costs
$2,154per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $92,500 a year.
A standard mortgage calculator would have told you $1,467. The real number is $687 higher every month, 47% more than the payment most buyers budget for.
Compare Floyd County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Galena from a five-year rolling sample, and with about 1,618 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Floyd County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Galena against Floyd County and Indiana
| Measure | Galena | Floyd County |
|---|---|---|
| Median home value | $269,000 | $235,100 |
| Median property tax | $1,525 | $1,656 |
| Effective tax rate | 0.567% | 0.704% |
| Median gross rent | — | $990 |
| Population | 1,618 | 80,512 |
The weather behind that power bill
Galena sits in Floyd County, which averages a high of 89.0°F in its hottest month and a low of 27.8°F in its coldest, with 48.34" of precipitation a year and 30% of it in a single three-month stretch. That climate drives 1,742 cooling and 3,936 heating degree days, which is what sets the $153 electricity line above.
See the full climate breakdown for Floyd County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Floyd County
Talk to someone who works this market
These are Galena averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Galena every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Galena I already own here and may sell
Common questions
How much does it cost to own a home in Galena?
A $269,000 home in Galena, Indiana costs approximately $2,154 per month with 20% down at 7.24%. That is $1,467 principal and interest, $127 property tax, $115 homeowners insurance, $221 utilities and $224 set aside for maintenance.
What is the property tax rate in Galena?
Galena has an effective property tax rate of 0.567%, based on a median home value of $269,000 and median real estate taxes of $1,525. That is lower than the Floyd County average of 0.704%.
What is the average home price in Galena?
The median owner-occupied home value in Galena, Indiana is $269,000, against $235,100 across Floyd County.
Is it cheaper to rent or buy in Galena?
Rent data is not published for Galena at this level of detail.
What salary do you need to buy a home in Galena?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Galena, Indiana at today's rate takes a household income of roughly $92,500 a year. That covers the full $2,154 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Galena, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Indiana.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.