The typical owner-occupied home in Gardner is worth about $199,600, 24% below the Illinois median of $263,300 and 40% below the national median of $332,700. Owners pay a median $3,914 a year in property taxes, about 1.96% of their home's value, close to the Illinois rate of 2.01%. The median household earns $88,092 a year, so the median home costs 2.3 times the median income (3.2 times for Illinois). 75% of occupied homes here are lived in by their owners, and 63% of those owners still have a mortgage.
Gardner at a glance
| Gardner | Illinois | U.S. | |
|---|---|---|---|
| Median home value | $199,600 | $263,300 | $332,700 |
| Median property tax paid per year | $3,914 | $5,298 | $3,119 |
| Property tax as a share of value | 1.96% | 2.01% | 0.94% |
| Median household income | $88,092 | $83,390 | $80,734 |
| Homes lived in by their owners | 75% | 67% | 65% |
| Owner homes with a mortgage | 63% | 61% | 61% |
| Median monthly costs, owners with a mortgage | $1,602 | $1,987 | $1,963 |
| Those costs as a share of the owners' income | 21.5% | 20.6% | 21.0% |
| Median rent | $979 | $1,274 | $1,413 |
| Rent as a share of renters' income | 24.4% | 29.1% | 30.6% |
| Median year homes were built | 1964 | 1971 | 1980 |
| Vacant homes | 7.6% | 7.7% | 10.1% |
| Population | 1,410 | 12,694,798 | 334,922,499 |
What a typical home costs per month in Gardner
At this week's average 30-year rate of 7.11%, buying the median Gardner home of $199,600 with 20% down costs about $1,483 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $1,816, 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 $63,573 for the 20%-down payment. That payment is 20% of the median Gardner household income of $88,092; at that income and 20% down, the 28% guideline points to a home of about $277,000.
The median rent here is $979 a month, so owning the median home costs about $504 a month more than renting, before you count the equity you build and any tax benefits.
| Down payment | $39,920 |
|---|---|
| Loan amount | $159,680 |
| Principal and interest | $1,074 |
| Property taxes (1.96% a year) | $326 |
| Homeowners insurance (our estimate, 0.5% a year) | $83 |
| PMI | $0 |
| Total per month | $1,483 |
Change the numbers in the calculator
| Down payment | $6,986 |
|---|---|
| Loan amount | $195,985 |
| Principal and interest | $1,318 |
| Property taxes (1.96% a year) | $326 |
| Homeowners insurance (our estimate, 0.5% a year) | $83 |
| FHA mortgage insurance | $88 |
| Total per month | $1,816 |
Change the numbers in the calculator
Questions about home buying in Gardner
What is the median home value in Gardner?
About $199,600 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
How much are property taxes in Gardner?
Homeowners pay a median $3,914 a year, which is about 1.96% 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 Gardner?
For the median home with 20% down at 7.11%, the payment is about $1,483 a month. Keeping that under 28% of gross income takes about $63,573 a year.
More about Gardner
- Mortgage Refinance in Gardner
- Debt Relief in Gardner
- Home Equity Loans in Gardner
- 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