Market Overview
Home Prices in Galesburg, IL
The median home value in Galesburg, IL is $107,348 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 15.2% compared to a year ago and up 0.5% from two years prior.
Compared to the U.S. national median of $410,000, homes in Galesburg are priced74% below average. Galesburg is part of the Galesburg, IL metro area.
Over the past five years, Galesburg home values have risen by approximately28.2%, reflecting strong long-term appreciation in this market.
Price History
Galesburg Home Price Trend
City Comparison
Galesburg vs. National Median
At $107,348, homes in Galesburg cost 74% below the national median of $410,000. This makes Galesburg a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Galesburg?
20% Down Payment
$21,470
on $107,348
Monthly P&I
$560/mo
30-yr @ 6.8%
Total Monthly Est.
~$711/mo
incl. taxes & insurance
Income Needed
$28,440
gross annual (30% rule)
10% Down Option
$10,735
+ PMI applies
Loan Amount (20% dn)
$85,878
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Galesburg, IL?
The median home value in Galesburg is $107,348 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 15.2% year-over-year.
How much have home prices changed in Galesburg?
Over the past year, home values in Galesburg have increased by 15.2%. Over five years, prices have risen approximately 28.2%.
How much do I need to earn to buy a home in Galesburg?
To comfortably afford the median home price of $107,348 with a 20% down payment ($21,470) at today's rates (6.8%), you'd need a gross annual income of approximately $28,440. This assumes keeping total housing costs at or below 30% of gross income.
How does Galesburg compare to the national average home price?
The national median home value is approximately $410,000. At $107,348, homes in Galesburg are 74% below the national average.
What metro area is Galesburg part of?
Galesburg is part of the Galesburg, IL metropolitan area. Home prices and market conditions can vary across the broader metro region.