Galesburg, IL home prices
Typical home $120,132 · +11.8% in a year · income needed $38,700
The Galesburg, IL metro area ranks 864 of 894 U.S. metros for home values (U.S. typical home: $366,157). Prices changed +11.8% in a year and +18.0% over five years. With 20% down at 7.11%, the typical home costs about $902 a month including 1.96% property tax (Knox County rate).
Mortgage on the typical Galesburg home
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $24,026 | $96,105 | $647 | $0 | $256 | $902 | $38,700 |
| 10% down | $12,013 | $108,118 | $727 | $45 | $256 | $1,028 | $44,100 |
| 5% down | $6,007 | $114,125 | $768 | $48 | $256 | $1,071 | $45,900 |
| 3.5% down (FHA) | $4,205 | $117,956 | $793 | $53 | $256 | $1,103 | $47,300 |
Assumes a 30-year fixed loan at 7.11%, property tax of 1.96% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Counties in the Galesburg area
| County | Typical home | 1-yr change | Tax rate |
|---|---|---|---|
| Knox County, IL | $120,138 | +11.8% | 1.96% |
What can you afford in Illinois on your salary? · Illinois home prices · Salaries in Illinois
Frequently asked questions
How much is a house in Galesburg?
The typical home in the Galesburg, IL metro area is worth $120,132 (Zillow, September 2026).
What salary do you need to buy a house in Galesburg?
About $38,700 a year for the typical home with 20% down at 7.11%.