Total monthly cost of ownership
Cost to Own a Home in Gillespie, Illinois
A $90,000 home here costs
$910per month, all in, with 20% down at today's 7.24% 30-year fixed rate. By the 28% rule that takes a household income of about $39,000 a year.
A standard mortgage calculator would have told you $491. The real number is $419 higher every month, 85% more than the payment most buyers budget for.
Compare Macoupin County with anywhere in America · full county breakdown
Small-place caveat: the Census publishes these figures for Gillespie from a five-year rolling sample, and with about 3,118 residents that sample is small. The median home value here carries a much wider margin of error than a big-city figure does, so treat it as indicative rather than exact. The Macoupin County figures are drawn from a far larger sample if you want a steadier number.
Where every dollar goes
Only the first line is a mortgage payment. Change any assumption above and every figure below recalculates.
Gillespie against Macoupin County and Illinois
| Measure | Gillespie | Macoupin County |
|---|---|---|
| Median home value | $89,500 | $126,100 |
| Median property tax | $1,274 | $1,990 |
| Effective tax rate | 1.423% | 1.578% |
| Median gross rent | $756 | $789 |
| Population | 3,118 | 44,566 |
The weather behind that power bill
Gillespie sits in Macoupin County, which averages a high of 86.2°F in its hottest month and a low of 19.2°F in its coldest, with 40.01" of precipitation a year and 34% of it in a single three-month stretch. That climate drives 1,142 cooling and 5,320 heating degree days, which is what sets the $134 electricity line above.
See the full climate breakdown for Macoupin County , month by month temperatures, rainy season timing, snowfall and heating and cooling costs.
Other cities in Macoupin County
Full Macoupin County cost breakdown · Every county in Illinois
Talk to someone who works this market
These are Gillespie averages. What one specific house costs to own, or what it would sell for today, depends on the street and the condition of the place. We will connect you with one licensed local agent who works Gillespie every week. Free, no obligation, and we never sell your details to a list.
I'm looking to buy in Gillespie I already own here and may sell
Common questions
How much does it cost to own a home in Gillespie?
A $90,000 home in Gillespie, Illinois costs approximately $910 per month with 20% down at 7.24%. That is $491 principal and interest, $107 property tax, $35 homeowners insurance, $202 utilities and $75 set aside for maintenance.
What is the property tax rate in Gillespie?
Gillespie has an effective property tax rate of 1.423%, based on a median home value of $89,500 and median real estate taxes of $1,274. That is lower than the Macoupin County average of 1.578%.
What is the average home price in Gillespie?
The median owner-occupied home value in Gillespie, Illinois is $89,500, against $126,100 across Macoupin County.
Is it cheaper to rent or buy in Gillespie?
Median gross rent in Gillespie is $756 a month, against $910 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
What salary do you need to buy a home in Gillespie?
Using the standard 28% rule, housing costs at no more than 28% of gross income, buying the median home in Gillespie, Illinois at today's rate takes a household income of roughly $39,000 a year. That covers the full $910 monthly cost, not just the mortgage payment.
Sources & methodology
- Median home value, real estate taxes, gross rent and population for Gillespie, US Census Bureau, American Community Survey ACS 2023 5-Year, place-level tables.
- Homeowners insurance, NAIC average premium for Illinois.
- Electricity price, EIA Electric Power Monthly Table 5.6.A.
- Mortgage rate, Freddie Mac PMMS, refreshed weekly.
- Maintenance (1%/yr) and water and sewer ($68/mo) are national estimates. Every assumption above is editable.