The typical owner-occupied home in Gillham is worth about $93,000, 51% below the Arkansas median of $188,000 and 72% below the national median of $332,700. Owners pay a median $325 a year in property taxes, about 0.35% of their home's value, lower than the Arkansas rate of 0.55%. The median household earns $55,833 a year, so the median home costs 1.7 times the median income (3.1 times for Arkansas). 76% of occupied homes here are lived in by their owners, and 53% of those owners still have a mortgage.
Gillham at a glance
| Gillham | Arkansas | U.S. | |
|---|---|---|---|
| Median home value | $93,000 | $188,000 | $332,700 |
| Median property tax paid per year | $325 | $1,040 | $3,119 |
| Property tax as a share of value | 0.35% | 0.55% | 0.94% |
| Median household income | $55,833 | $60,773 | $80,734 |
| Homes lived in by their owners | 76% | 66% | 65% |
| Owner homes with a mortgage | 53% | 53% | 61% |
| Median monthly costs, owners with a mortgage | $864 | $1,345 | $1,963 |
| Those costs as a share of the owners' income | 13.5% | 18.5% | 21.0% |
| Median rent | $563 | $947 | $1,413 |
| Rent as a share of renters' income | 25.5% | 27.6% | 30.6% |
| Median year homes were built | 1978 | 1987 | 1980 |
| Vacant homes | 11.4% | 13.5% | 10.1% |
| Population | 147 | 3,049,391 | 334,922,499 |
What a typical home costs per month in Gillham
At this week's average 30-year rate of 7.11%, buying the median Gillham home of $93,000 with 20% down costs about $566 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $721, because the loan is bigger and FHA adds mortgage insurance.
Lenders usually want housing costs under about 28% of gross income, which means an income of roughly $24,273 for the 20%-down payment. That payment is 12% of the median Gillham household income of $55,833; at that income and 20% down, the 28% guideline points to a home of about $214,000.
The median rent here is $563 a month, so owning the median home costs about $3 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $18,600 |
|---|---|
| Loan amount | $74,400 |
| Principal and interest | $500 |
| Property taxes (0.35% a year) | $27 |
| Homeowners insurance (our estimate, 0.5% a year) | $39 |
| PMI | $0 |
| Total per month | $566 |
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| Down payment | $3,255 |
|---|---|
| Loan amount | $91,316 |
| Principal and interest | $614 |
| Property taxes (0.35% a year) | $27 |
| Homeowners insurance (our estimate, 0.5% a year) | $39 |
| FHA mortgage insurance | $41 |
| Total per month | $721 |
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Questions about home buying in Gillham
What is the median home value in Gillham?
About $93,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Gillham?
Homeowners pay a median $325 a year, which is about 0.35% of the median home value. Your bill depends on your home's assessed value and local rates.
What income do you need to buy a home in Gillham?
For the median home with 20% down at 7.11%, the payment is about $566 a month. Keeping that under 28% of gross income takes about $24,273 a year.
More about Gillham
- Mortgage Refinance in Gillham
- Debt Relief in Gillham
- Home Equity Loans in Gillham
- Guides and quotes for mortgage refinance on our sister site, MortgageRefinance.com
Sources: U.S. Census Bureau, American Community Survey 2020–2024 5-year estimates; Freddie Mac Primary Mortgage Market Survey, week of November 12, 2026. Estimates for small places have wide margins of error. About our data