The typical owner-occupied home in Gallatin County is worth about $82,900, 69% below the Illinois median of $263,300 and 75% below the national median of $332,700. Owners pay a median $1,305 a year in property taxes, about 1.57% of their home's value, lower than the Illinois rate of 2.01%. The median household earns $59,219 a year, so the median home costs 1.4 times the median income (3.2 times for Illinois). 77% of occupied homes here are lived in by their owners, and 36% of those owners still have a mortgage.
Gallatin County at a glance
| Gallatin County | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $82,900 | $263,300 | $332,700 |
| Median property tax paid per year | $1,305 | $5,298 | $3,119 |
| Property tax as a share of value | 1.57% | 2.01% | 0.94% |
| Median household income | $59,219 | $83,390 | $80,734 |
| Homes lived in by their owners | 77% | 67% | 65% |
| Owner homes with a mortgage | 36% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,031 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 13.9% | 20.6% | 21.0% |
| Median rent | $541 | $1,274 | $1,413 |
| Rent as a share of renters' income | 21.5% | 29.1% | 30.6% |
| Median year homes were built | 1969 | 1971 | 1980 |
| Vacant homes | 16.2% | 7.7% | 10.1% |
| Population | 4,819 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Gallatin County
At this week's average 30-year rate of 7.11%, buying the median Gallatin County home of $82,900 with 20% down costs about $589 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $727, 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 $25,249 for the 20%-down payment. That payment is 12% of the median Gallatin County household income of $59,219; at that income and 20% down, the 28% guideline points to a home of about $194,000.
The median rent here is $541 a month, so owning the median home costs about $48 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $16,580 |
|---|---|
| Loan amount | $66,320 |
| Principal and interest | $446 |
| Property taxes (1.57% a year) | $108 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| PMI | $0 |
| Total per month | $589 |
Change the numbers in the calculator
| Down payment | $2,902 |
|---|---|
| Loan amount | $81,398 |
| Principal and interest | $548 |
| Property taxes (1.57% a year) | $108 |
| Homeowners insurance (our estimate, 0.5% a year) | $35 |
| FHA mortgage insurance | $37 |
| Total per month | $727 |
Change the numbers in the calculator
Questions about home buying in Gallatin County
What is the median home value in Gallatin County?
About $82,900 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Gallatin County?
Homeowners pay a median $1,305 a year, which is about 1.57% 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 Gallatin County?
For the median home with 20% down at 7.11%, the payment is about $589 a month. Keeping that under 28% of gross income takes about $25,249 a year.
More about Gallatin County
- Mortgage Refinance in Gallatin County
- Debt Relief in Gallatin County
- Home Equity Loans in Gallatin County
- 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