The typical owner-occupied home in Gillett Grove is worth about $61,000, 71% below the Iowa median of $208,000 and 82% below the national median of $332,700. 100% of occupied homes here are lived in by their owners, and 27% of those owners still have a mortgage.
Gillett Grove at a glance
| Gillett Grove | Iowa | U.S. | |
|---|---|---|---|
| Median home value | $61,000 | $208,000 | $332,700 |
| Median property tax paid per year | – | $2,897 | $3,119 |
| Median household income | – | $75,059 | $80,734 |
| Homes lived in by their owners | 100% | 72% | 65% |
| Owner homes with a mortgage | 27% | 59% | 61% |
| Median monthly costs, owners with a mortgage | – | $1,533 | $1,963 |
| Median rent | – | $972 | $1,413 |
| Median year homes were built | 1943 | 1972 | 1980 |
| Vacant homes | 31.2% | 8.5% | 10.1% |
| Population | 40 | 3,210,507 | 334,922,499 |
What a typical home costs per month in Gillett Grove
At this week's average 30-year rate of 7.11%, buying the median Gillett Grove home of $61,000 with 20% down costs about $410 a month, including property taxes and insurance. With an FHA loan and 3.5% down, it's about $511, 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 $17,555 for the 20%-down payment.
| Down payment | $12,200 |
|---|---|
| Loan amount | $48,800 |
| Principal and interest | $328 |
| Property taxes (1.10% a year) | $56 |
| Homeowners insurance (our estimate, 0.5% a year) | $25 |
| PMI | $0 |
| Total per month | $410 |
Change the numbers in the calculator
| Down payment | $2,135 |
|---|---|
| Loan amount | $59,895 |
| Principal and interest | $403 |
| Property taxes (1.10% a year) | $56 |
| Homeowners insurance (our estimate, 0.5% a year) | $25 |
| FHA mortgage insurance | $27 |
| Total per month | $511 |
Change the numbers in the calculator
Questions about home buying in Gillett Grove
What is the median home value in Gillett Grove?
About $61,000 for owner-occupied homes, according to the Census Bureau's 2020–2024 American Community Survey.
What income do you need to buy a home in Gillett Grove?
For the median home with 20% down at 7.11%, the payment is about $410 a month. Keeping that under 28% of gross income takes about $17,555 a year.
More about Gillett Grove
- Mortgage Refinance in Gillett Grove
- Debt Relief in Gillett Grove
- Home Equity Loans in Gillett Grove
- 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