Galena, IL
- Overview
- Performance
- Listings
- Buy Box
Key Performance Metrics
Market snapshotPerformance indicators for the Galena short-term rental market based on reliable data.
Listings
516 / 827
Reliable / Active
Cap Rate
12%
Middle-Earners Gross Yield
Revenue
$36,083
Middle-Earners Revenue
Occupancy
40%
Middle-Earners Occupancy
Home Value
$298,797
Median Home Sale Price
Top Earners
$80,624
Top-Earners Revenue
Galena
Market Revenue Seasonality
Top Listings
Highest revenueThe highest-performing listings in Galena.
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Challenging to Investors
Galena Regulations
City STRs are allowed but capped with no licenses and a substantial waitlist, plus special use permits, inspections and occupancy caps add compliance burden; county permits are more accessible but still require inspections, fees and renewal, and a 6% state hotel tax increases operating costs.
Local STR Agent
STR specialist · Galena, IL
About Galena
Galena, Illinois, is a charming and historic city located in the northwestern part of the state. With a population of around 3,200 residents, Galena is well-known for its well-preserved 19th-century architecture and scenic beauty. The city is approximately 160 miles west of Chicago, making it a popular getaway destination for those looking to escape the hustle and bustle of the major metropolitan area.
One of the most appealing aspects of Galena for short-term rentals is its rich historical heritage. The city is home to numerous landmarks, including the Ulysses S. Grant Home, which offers a glimpse into the life of the 18th President of the United States. More information about the Grant Home can be found here.
Another notable attraction is Main Street, lined with boutique shops, restaurants, and historic buildings, providing visitors with a taste of 19th-century America. For those interested in architecture, the Belvedere Mansion is an exquisite example of Victorian architecture and is open for tours. Details about Belvedere Mansion are available here.
Outdoor enthusiasts will also find Galena attractive due to its proximity to natural attractions. The Galena River and surrounding hills offer opportunities for hiking, kayaking, and other recreational activities. Casper Bluff Land and Water Reserve is a notable outdoor attraction, offering stunning vistas and ancient Native American burial mounds. More information can be found here.
Additionally, the city’s numerous events and festivals, such as the Galena Country Fair and the Annual Halloween Parade, make it a lively place to visit year-round. Such events provide ample opportunities for visitors to experience the local culture and community spirit.
Given its mix of historical landmarks, outdoor activities, and cultural events, Galena provides a compelling case for short-term rentals. The unique combination of attractions ensures that visitors have a diverse array of experiences, making it an appealing destination for tourists seeking both relaxation and adventure.