Market Overview
Home Prices in Gilman, IL
The median home value in Gilman, IL is $133,766 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 8.2% compared to a year ago and up 12.9% from two years prior.
Compared to the U.S. national median of $410,000, homes in Gilman are priced67% below average.
Over the past five years, Gilman home values have risen by approximately13.8%, reflecting steady appreciation in this market.
Price History
Gilman Home Price Trend
2020
$107,540
$108K
—
2021
$117,590
$118K
+9.3%
2022
$122,709
$123K
+4.4%
2023
$127,624
$128K
+4.0%
2024
$128,978
$129K
+1.1%
2025
$145,668
$146K
+12.9%
2026
$133,766
$134K
-8.2%
City Comparison
Gilman vs. National Median
🏠 Gilman
$133,766
National Median
$410,000
At $133,766, homes in Gilman cost 67% below the national median of $410,000. This makes Gilman a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Gilman?
20% Down Payment
$26,753
on $133,766
Monthly P&I
$698/mo
30-yr @ 6.8%
Total Monthly Est.
~$886/mo
incl. taxes & insurance
Income Needed
$35,440
gross annual (30% rule)
10% Down Option
$13,377
+ PMI applies
Loan Amount (20% dn)
$107,013
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 Gilman, IL?
The median home value in Gilman is $133,766 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 8.2% year-over-year.
How much have home prices changed in Gilman?
Over the past year, home values in Gilman have decreased by 8.2%. Over five years, prices have risen approximately 13.8%.
How much do I need to earn to buy a home in Gilman?
To comfortably afford the median home price of $133,766 with a 20% down payment ($26,753) at today's rates (6.8%), you'd need a gross annual income of approximately $35,440. This assumes keeping total housing costs at or below 30% of gross income.
How does Gilman compare to the national average home price?
The national median home value is approximately $410,000. At $133,766, homes in Gilman are 67% below the national average.