Data through September 2026 · updated 2026-11-07 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$89,782−3.8% YoY · prices are falling fast
Market right nowBalanced, leaning buyersFewer homes for sale than last year, 40% have cut their price
Income needed to buy, per year$19,463About 0.3× the local median income ($57,342): affordable for a typical household
Days on market126 daysSlower than a year ago: buyers have time to negotiate
The typical home in Gallatin County, IL is worth $89,782, down 3.8% from a year ago. That is well below what local incomes have historically supported: fair value is about $140,675, so the area is 36.2% undervalued. It is a balanced market, leaning toward buyers: homes take about 126 days to sell, listings are down 33% from a year ago, 40% of listings have had a price cut. A household needs about $19,463 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $57,342. In the latest IRS figures, 5 more people moved in than out.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$89,782
Change in 1 year
−3.8%
Overvalued %
−36.2%
Show 6 more
Fair home value
$140,675
Change in 5 years
−17.0%
Home value to income
1.6×
Monthly mortgage payment (20% down)
$487
Income needed to afford it
$19,463
Property tax rate
1.57%
Rent and investing
HUD Fair Market Rent, 2 bedrooms
$930
Market activity
Listings vs a year ago
−33.3%
Days on market
126
Listings with a price cut
40.0%
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Homes for sale
6
Pending sales per 100 listings
33
Asking price per sq ft
$82
People and jobs
Median household income
$57,342
Population change (1 year)
−1.4%
Unemployment rate
9.2%
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Population
4,616
Income adjusted for cost of living
$65,609
Net moves in (IRS)
+5
Cost of living (US = 100)
87.4
Schools, risk and environment
School rating (1 to 10)
6.9
FEMA hazard risk score (0 to 100)
33.9
Flood risk score
36.0
Show 3 more
Wildfire risk score
1.2
Walkability (1 to 20)
4.5
Road, rail and air noise
54 dB
Questions people ask
Is Gallatin County, IL overvalued?
Home prices in Gallatin County, IL are well below what local incomes have historically supported: fair value is about $140,675, so the area is 36.2% undervalued.
Is Gallatin County, IL a buyer's or seller's market?
Gallatin County, IL is a balanced market, leaning toward buyers: homes take about 126 days to sell, listings are down 33% from a year ago, 40% of listings have had a price cut.
Are home prices going down in Gallatin County, IL?
Home values in Gallatin County, IL are down 3.8% over the last year.
How much do you need to earn to buy a home in Gallatin County, IL?
A household needs about $19,463 a year to afford the typical home in Gallatin County, IL at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $57,342.