Market Overview
Home Prices in Gillespie, IL
The median home value in Gillespie, IL is $102,557 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 11.7% compared to a year ago and up 4.6% from two years prior.
Compared to the U.S. national median of $410,000, homes in Gillespie are priced75% below average. Gillespie is part of the St. Louis, MO-IL metro area.
Over the past five years, Gillespie home values have risen by approximately0.9%, reflecting modest growth in this market.
Price History
Gillespie Home Price Trend
City Comparison
Gillespie vs. National Median
At $102,557, homes in Gillespie cost 75% below the national median of $410,000. This makes Gillespie a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Gillespie?
20% Down Payment
$20,511
on $102,557
Monthly P&I
$535/mo
30-yr @ 6.8%
Total Monthly Est.
~$679/mo
incl. taxes & insurance
Income Needed
$27,160
gross annual (30% rule)
10% Down Option
$10,256
+ PMI applies
Loan Amount (20% dn)
$82,046
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 Gillespie, IL?
The median home value in Gillespie is $102,557 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 11.7% year-over-year.
How much have home prices changed in Gillespie?
Over the past year, home values in Gillespie have decreased by 11.7%. Over five years, prices have risen approximately 0.9%.
How much do I need to earn to buy a home in Gillespie?
To comfortably afford the median home price of $102,557 with a 20% down payment ($20,511) at today's rates (6.8%), you'd need a gross annual income of approximately $27,160. This assumes keeping total housing costs at or below 30% of gross income.
How does Gillespie compare to the national average home price?
The national median home value is approximately $410,000. At $102,557, homes in Gillespie are 75% below the national average.
What metro area is Gillespie part of?
Gillespie is part of the St. Louis, MO-IL metropolitan area. Home prices and market conditions can vary across the broader metro region.