[4] The Bureau of Economic Analysis combines the city of Galax with neighboring Carroll County for statistical purposes.

The first plat map for Galax is dated December 1903;[5] The town founders selected the site for the city on a wide expanse of meadowland bisected by Chestnut Creek and sitting at an altitude of 2,500 feet (760 m) on a plateau.

[7] The town is named for Galax urceolata, an evergreen groundcover plant found throughout the Blue Ridge Mountains.

[12] According to the United States Census Bureau, the city has a total area of 8.3 square miles (21 km2), virtually all of which is land.

Established in 1923, the Vaughan Furniture Co. was a privately held company that at its peak owned five factories (two of them in Galax) and employed more than 1,800 workers.

[23] Beginning in 2002, imported furniture from Mexico and then China disrupted U.S. manufacturing, leading to the company's decline.

[23] An economic analysis of southwestern Virginia cities and counties found that Galax had the highest increase in travel expenditures from 2004 to 2012, at 71.4%.

The report found that "Galax, a city once dominated by industry, has become a blossoming tourism destination thanks to downtown revitalization efforts, its traditional music and arts scene (Old Fiddlers Convention, Chestnut School of the Arts), and its proximity to the Blue Ridge Parkway and the New River.

[26] Located in the Appalachian region of the United States, Galax is known as a center of traditional "old-time" music and musicians, as is Round Peak, North Carolina near Mount Airy, some 15 miles away on the other side of the ridge.

[29] The annual Old Fiddlers' Convention, held in Galax since 1935, is a popular old-time and bluegrass music festival.

[32] Located four miles east of Galax, in neighboring Carroll County, is the Crooked Creek Wildlife Management Area, which encompasses 1,796 acres (727 ha) of gently rolling mountains, both forested and open.

[35] Grayson Highlands State Park noted for scenic views, trail hiking including the Appalachian Trail, Mount Rogers (the highest peak in Virginia) and wild mountain ponies is about forty miles to the west near the Mount Rogers National Recreation Area.