The typical owner-occupied home in Gillsville is worth about $268,000, 12% below the Georgia median of $303,300 and 19% below the national median of $332,700. Owners pay a median $2,188 a year in property taxes, about 0.82% of their home's value, higher than the Georgia rate of 0.77%. The median household earns $98,333 a year, so the median home costs 2.7 times the median income (3.9 times for Georgia). 71% of occupied homes here are lived in by their owners, and 43% of those owners still have a mortgage.
Gillsville at a glance
| Gillsville | Georgia | U.S. | |
|---|---|---|---|
| Median home value | $268,000 | $303,300 | $332,700 |
| Median property tax paid per year | $2,188 | $2,341 | $3,119 |
| Property tax as a share of value | 0.82% | 0.77% | 0.94% |
| Median household income | $98,333 | $77,353 | $80,734 |
| Homes lived in by their owners | 71% | 66% | 65% |
| Owner homes with a mortgage | 43% | 63% | 61% |
| Median monthly costs, owners with a mortgage | $1,560 | $1,783 | $1,963 |
| Those costs as a share of the owners' income | 24.5% | 20.0% | 21.0% |
| Median rent | $2,191 | $1,393 | $1,413 |
| Rent as a share of renters' income | 13.3% | 31.3% | 30.6% |
| Median year homes were built | 1961 | 1992 | 1980 |
| Vacant homes | 2.7% | 10.3% | 10.1% |
| Population | 454 | 10,940,407 | 334,922,499 |
What a typical home costs per month in Gillsville
At this week's average 30-year rate of 7.11%, buying the median Gillsville home of $268,000 with 20% down costs about $1,737 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $2,184, 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 $74,446 for the 20%-down payment. That payment is 21% of the median Gillsville household income of $98,333; at that income and 20% down, the 28% guideline points to a home of about $354,000.
The median rent here is $2,191 a month, a little more than the monthly cost of owning the median home with 20% down.
| Down payment | $53,600 |
|---|---|
| Loan amount | $214,400 |
| Principal and interest | $1,442 |
| Property taxes (0.82% a year) | $183 |
| Homeowners insurance (our estimate, 0.5% a year) | $112 |
| PMI | $0 |
| Total per month | $1,737 |
Change the numbers in the calculator
| Down payment | $9,380 |
|---|---|
| Loan amount | $263,146 |
| Principal and interest | $1,770 |
| Property taxes (0.82% a year) | $183 |
| Homeowners insurance (our estimate, 0.5% a year) | $112 |
| FHA mortgage insurance | $119 |
| Total per month | $2,184 |
Change the numbers in the calculator
Questions about home buying in Gillsville
What is the median home value in Gillsville?
About $268,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Gillsville?
Homeowners pay a median $2,188 a year, which is about 0.82% 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 Gillsville?
For the median home with 20% down at 7.11%, the payment is about $1,737 a month. Keeping that under 28% of gross income takes about $74,446 a year.
More about Gillsville
- Mortgage Refinance in Gillsville
- Debt Relief in Gillsville
- Home Equity Loans in Gillsville
- 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