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New Report Fall 2026 Housing Affordability Report: every state is less affordable than in late August as average 30-year mortgage rates passed 7%. Read the report

Galena, IL Housing Affordability Index

Galena, Illinois has an MBR Housing Affordability Index score of 93.9 (Near National Average) as of October 30, 2026, ranking 1163rd most affordable of 1,249 scored Illinois cities, compared with 102.2 statewide and 97.4 nationally. On a median-priced $233,200 home with 20% down, the Illinois average 30-year fixed rate of 7.31% means a monthly principal and interest payment of about $1,281, or 26% of the city’s $58,689 median household income.

The MBR Housing Affordability Index (MBR-HAI) for Galena is updated every night from live Illinois mortgage rates and U.S. Census Bureau income, home value and housing cost data for the city. A score of 100 equals the national average; higher scores mean homeownership is more affordable.

Galena MBR-HAI 93.9 Near National Average
Rank in Illinois 1,163 of 1,249 1 = most affordable
Illinois 102.2 Statewide score
National 97.4 100 = baseline
Avg 30-yr rate 7.31% Illinois lenders
Median home value $233,200 U.S. Census Bureau

Galena is 8.3 points below the Illinois score. Scores as of October 30, 2026. See the Illinois index

View Galena Mortgage Rates

What It Takes to Buy in Galena

$1,281/mo
Principal & Interest
Median home, 20% down, 7.31%
$54,900
Income Needed
To keep the payment at 28% of income
$58,689
Median Household Income
Illinois: $83,390
4.0x
Price-to-Income Ratio
Illinois: 3.2x
$947/mo
Median Owner Costs
Mortgage, taxes, insurance, utilities
$4,079/yr
Median Property Tax
1.75% of median value
24.8%
Owner Cost Burden
Owners spending 30%+ of income on housing
38.3%
Renter Cost Burden
Renters spending 30%+ of income on rent

Source: U.S. Census Bureau American Community Survey 5-Year Estimates (2024) for Galena, Illinois. The rate is the Illinois average 30-year fixed rate from MonitorBankRates, since lenders publish rates by state.

Cite the Galena Score

“MonitorBankRates (MBR) Housing Affordability Index, MonitorBankRates.com, October 30, 2026. Galena, Illinois score: 93.9 (Near National Average), ranked 1,163 of 1,249 Illinois cities. monitorbankrates.com/housing-affordability-index/illinois/galena”