Total monthly cost of ownership
Cost to Own a Home in Gillespie, Illinois
A $90,000 home here costs
$962per month, all in — with 20% down at today's 6.66% 30-year fixed rate.
A standard mortgage calculator would have told you $463. The real number is $499 higher every month — 108% more than the payment most buyers budget for.
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 $214 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
Common questions
How much does it cost to own a home in Gillespie?
A $90,000 home in Gillespie, Illinois costs approximately $962 per month with 20% down at 6.66%. That is $463 principal and interest, $107 property tax, $35 homeowners insurance, $282 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 $962 to own the median home all in. Renting costs less month to month here, though renting builds no equity.
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.