Gillespie, Illinois Real Estate & Housing Market

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Gillespie Housing Information

Index	Gillespie	Illinois	National
Median home price	$77,500	$174,800	$184,700
Median rent asked	$619	$925	$949
Avg. people per household	2.3	2.6	2.6
Owner occupied households	73.1%	66.0%	63.6%
Renter occupied households	26.9%	34.0%	36.4%

A general overview of the Gillespie, IL real estate market is displayed above. The median home price for homes in Gillespie, IL is $77,500, which is 56% lower than the Illinois average. This means that real estate in the Gillespie, IL area is generally more affordable than the rest of Illinois. The median rent price in Gillespie, IL is $619 which is 33% lower than the Illinois average. In Gillespie, IL, 73.1% of people are home owners and an average of 2.3 people occupy each home. From luxury houses to affordable condos to urban townhomes, there are many different types of real estate in Gillespie, IL. We make it easy to find Gillespie, IL real estate listings and homes for sale by filtering location, price, bedrooms and bathrooms in the search area above.

Gillespie Home Affordability

Home affordability can be a very important factor when determining where to purchase real estate in Gillespie, IL. One method that can be used to calculate home affordability is the home price to median household income ratio. The median home price in Gillespie, IL is $77,500 and the median household income is $47,125. This results in a home price to income ratio of 1.6x, which is 44% lower than the Illinois average. The home affordability ratio is calculated by dividing the median home price by the median home income. A lower than average home price to income ratio means that homes in Gillespie, IL are more affordable based on the median price of homes compared to home income. Of course, there are many other factors to consider when focusing on home affordability. Use the home affordability calculator below to see exactly how much you can afford to pay for real estate in Gillespie, IL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Royal Lakes, IL	134	$47,500	74%
Walshville, IL	35	$47,500	74%
Sorento, IL	530	$50,500	73%
Lake Ka-Ho, IL	190	$52,300	72%
Wilsonville, IL	658	$52,900	71%
Gillespie, IL	3,323	$77,500	58%

Cities with similar population

City, State	Population	Home Price	National Avg.
Middleville, MI	3,324	$104,700	43%
Avon, NY	3,324	$151,400	18%
Midland, NC	3,322	$163,400	12%
Robbinsville, NJ	3,321	$404,000	119%
Dana, NC	3,321	$119,100	36%
Gillespie, IL	3,323	$77,500	58%

Source: The Gillespie, IL housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).