In Galesburg, a typical home is worth $96,400 and typical rent is $801 a month. Compared with all of Knox County, typical household income is 15% lower, the typical home value is 14% lower, and the share of households that own their home is 9 points lower.
Typical home value from Zillow, September 2021 to September 2026: from $84,176 to $105,557.
From Zillow (ZHVI), September 2026. The Census figures above are 5-year averages (2020–2024).
Galesburg is in Knox County. The FHA loan limit ($541,287 for a one-unit home), the fair market rents and the help on this page are those of all of Knox County. See the county
What this place has that others do not, from public data, most unusual first.
1
According to Zillow, in the 12 months to September 2026 the typical home value in Galesburg rose 10.3%; in Illinois, it rose 5.3%.
2
Galesburg has the 18th lowest typical household income of the 337 cities in Illinois with more than 5,000 people ($48,297).
3
Nearby, in Kewanee, the typical home value is $73,200: 24% less than in Galesburg ($96,400).
4
Galesburg has the 22nd lowest typical home value of the 336 cities in Illinois with more than 5,000 people ($96,400).
5
62% of households in Galesburg own their home, against 71% in Knox County.
6
Galesburg has the 32nd lowest typical rent of the 331 cities in Illinois with more than 5,000 people ($801).
Sources: Zillow (September 2026 data); U.S. Census Bureau (Average 2020–2024). Zillow data
The homes here
Housing in Galesburg
What homes there are in Galesburg, what they cost, how that changed and how people live, from Census figures (2020–2024).
What homes there are
U.S. Census Bureau, ACS 5-year, 2020–2024
Kind of home
Detached houseAttached houseBuilding of 2 to 4Apartments (5 or more)Mobile homeBoat, RV and otherUnreliable estimate
Galesburg
Knox County
Illinois
United States
Kind of home: Galesburg and its comparisons
Measure
Galesburg
Knox County
Illinois
United States
Detached house
67%
77%
58%
61%
Attached house
2%
1%
6%
6%
Building of 2 to 4
10%
8%
12%
8%
Apartments (5 or more)
17%
11%
22%
19%
Mobile home
4%
4%
2%
6%
Boat, RV and other
Unreliable estimate
Unreliable estimate
0%
0%
Detached houses are the majority in Galesburg (67%), but less so than in Knox County (77%).
Year built
Before 19601960–19791980–19992000–20092010 or later
Galesburg
Knox County
Illinois
United States
Year built: Galesburg and its comparisons
Measure
Galesburg
Knox County
Illinois
United States
Before 1960
59%
54%
38%
26%
1960–1979
23%
28%
26%
24%
1980–1999
11%
11%
20%
25%
2000–2009
4%
4%
11%
14%
2010 or later
3%
4%
6%
11%
The typical year built in Galesburg is 1954, about the same as in Knox County (1957).
In Galesburg, 17% of homes have 1 bedroom or none (studios); 51% have 3 bedrooms or more, against 59% in Knox County.
What it costs here
U.S. Census Bureau, ACS 5-year, 2020–2024
Value of owner-occupied homes
Under the limitOver the limitUnreliable estimate
Under $100K53%
$100K–$200K35%
$200K–$300K8%
$300K–$500K4%
$500K–$750KUnreliable
FHA limit: $541,287
$750K–$1MUnreliable
$1M or moreUnreliable
Value of owner-occupied homes: Galesburg and its comparisons
Measure
Galesburg
Under $100K
53%
$100K–$200K
35%
$200K–$300K
8%
$300K–$500K
4%
$500K–$750K
Unreliable estimate
$750K–$1M
Unreliable estimate
$1M or more
Unreliable estimate
The FHA limit for Knox County is high ($541,287): at least 99% of owner-occupied homes in Galesburg are worth less than $500,000.
Monthly rent with utilities
Under the limitOver the limitUnreliable estimate
Under $50019%
$500–$99956%
HUD fair market rent, 2 bedrooms: $930
$1,000–$1,49919%
$1,500–$1,999Unreliable
$2,000–$2,499Unreliable
$2,500–$2,999Unreliable
$3,000 or moreUnreliable
Monthly rent with utilities: Galesburg and its comparisons
Measure
Galesburg
Under $500
19%
$500–$999
56%
$1,000–$1,499
19%
$1,500–$1,999
Unreliable estimate
$2,000–$2,499
Unreliable estimate
$2,500–$2,999
Unreliable estimate
$3,000 or more
Unreliable estimate
HUD's 2-bedroom fair market rent (FMR) for Knox County is $930; about 67% of rents in Galesburg are below it.
With a mortgage
$1,095 a month
Knox County: $1,177 a month
Without a mortgage
$505 a month
Knox County: $545 a month
Owners with a mortgage
46%
Knox County: 49%
Owning costs less in Galesburg: with a mortgage, the typical cost is $1,095 a month; in Knox County, $1,177. Without one, $505.
How it changed
U.S. Census Bureau, ACS 5-year, 2015–2019 and 2020–2024
Change since 2015–2019
Typical home value
Galesburg+27%
Knox County+35%
Illinois+35%
United States+53%
Typical rent
Galesburg+26%
Knox County+24%
Illinois+26%
United States+33%
Typical household income
Galesburg+32%
Knox County+29%
Illinois+27%
United States+29%
Change since 2015–2019: Galesburg and its comparisons
Measure
Galesburg
Knox County
Illinois
United States
Typical home value
+27%
+35%
+35%
+53%
Typical rent
+26%
+24%
+26%
+33%
Typical household income
+32%
+29%
+27%
+29%
The typical home value in Galesburg rose 27% since 2015–2019, less than in Knox County (35%).
Much as in Knox County, the typical rent in Galesburg rose 26% since 2015–2019.
Income in Galesburg grew faster than housing: it rose 32%, while home values changed +27% and rent +26%.
How people live
U.S. Census Bureau, ACS 5-year, 2020–2024
How people live: Galesburg and its comparisons
Measure
Galesburg
Knox County
Illinois
United States
Rental vacancy
5.1%
6.4%
5.0%
5.5%
Homeowner vacancy
Unreliable estimate
Unreliable estimate
1.0%
0.9%
More than one person per room
Unreliable estimate
0.8%
2.5%
3.4%
People per household
2.04
2.15
2.46
2.53
Drive alone
75%
79%
66%
69%
Carpool
11%
9%
8%
9%
Public transit
Unreliable estimate
Unreliable estimate
6%
3%
Walk or bike
6%
4%
3%
3%
Work from home
6%
6%
16%
15%
Other means
Unreliable estimate
1%
1%
2%
Typical commute
10 to 19 minutes
10 to 19 minutes
20 to 29 minutes
20 to 29 minutes
In Galesburg, the rental vacancy rate is 5.1%; in Knox County, 6.4%.
Households in Galesburg are smaller: 2.04 people on average; in Knox County, 2.15.
To get to work, 75% of workers in Galesburg drive alone; in Knox County, 79%.
Do the math
What would you pay each month for a home in Galesburg?
A typical home is within reach of the typical income
We start with a typical home in Galesburg, worth $96,400, an FHA loan with 3.5% down and the latest average rate (7.18%). That payment would take 22% of the typical household income in Galesburg, which is $48,297 a year.
The calculator's FHA and conventional loan limits are those of all of Knox County.
Change the price, the down payment or the loan: the payment updates right away.
Your numbers
Local data
$
Starts at the typical home value in Galesburg. Change it to the price you have in mind.
Your score changes which loans apply and FHA's minimum down payment. Your real rate also depends on your credit.
Down payment
%
That is $3,374 (3.5% of the price). The usual minimum for this loan is 3.5%.
This week's average ± a quarter or half point.
National average as of November 5, 2026 (Freddie Mac); your rate may be different.
Adjust advanced details⌄
Estimated monthly payment
Local data
$884
at 7.18% · 30 years
Loan amount
$94,654
Total interest
$136,185
Paid off in
November 2056
Includes $1,628 FHA upfront mortgage insurance premium.
Does it fit the income?
Comfortable
up to $1,127 a month
Your payment · 22%
Tight
$1,127 to $1,449 a month
Hard
more than $1,449 a month
Compared with the typical household income in Galesburg ($48,297 a year). Reference: HUD calls paying more than 30% of income for housing a cost burden.
Monthly payment breakdown
Principal & interest
$641
Property tax
$160
Home insurance
$40
FHA mortgage insurance (MIP)
$43
You need at least $3,374 for the down payment, plus closing costs.
This is an estimate to give you an idea, not a loan offer. Your real payment depends on your rate, your credit, and the insurance and taxes on the home you buy.
Total monthly payment $884; principal and interest $641.
The city and its county
Galesburg and Knox County
Galesburg is in Knox County, Illinois. The U.S. Census Bureau publishes its own numbers for the city: home values, rent, household income, how many households own their home and the property tax. They are American Community Survey estimates (average 2020–2024).
Galesburg
Map of Knox County, Illinois, with Galesburg marked. Around it, the neighboring counties.
Galesburg
Knox County
Other cities with a page
Galesburg's own numbers
Typical home value
$96,400
Typical monthly rent
$801
Typical yearly household income
$48,297
Households that own their home
62%
Effective property tax rate
1.99%
U.S. Census Bureau, American Community Survey (average 2020–2024).
Numbers for all of Knox County
FHA limit, one-unit home
$541,287
Conventional limit, one unit
$832,750
HUD fair market rent, 2 bedrooms
$930
Price change over 5 years (FHFA)
+38%
Homes in a high flood-risk zone
0.7%
HUD, FHFA and FEMA don't publish these numbers by city.
Other numbers are not published by city, only for the whole county: FHA and conventional loan limits, HUD’s fair market rents, FHFA’s price index and FEMA’s flood data. On this page, those numbers always say they are for all of Knox County.
A typical home in Galesburg is worth $96,400: 14% below the county and 63% below Illinois. With the typical household income in Galesburg ($48,297 a year), a typical home costs 2.0 times what the household earns in a year.
Years of income to pay for a typical home
The typical home value divided by the typical household income for one year. The lower it is, the less buying weighs.
Galesburg2.0 years
Knox2.0 years
Illinois3.2 years
United States4.1 years
Source: U.S. Census Bureau, Average 2020–2024
How prices have changed in Knox County
According to FHFA’s house price index, home prices in Knox County rose 50% in the 10 years through 2025.
FHFA does not publish this index by city: these are the numbers for all of Knox County.
Yearly change in FHFA’s price index in Knox County, 2016 to 2025
2016: +1.1% +1.1% 2016
2017: −0.3% −0.3% 2017
2018: +3.9% +3.9% 2018
2019: −0.5% −0.5% 2019
2020: +4.5% +4.5% 2020
2021: +5.5% +5.5% 2021
2022: +8.7% +8.7% 2022
2023: +6.4% +6.4% 2023
2024: +7.3% +7.3% 2024
2025: +5.5% +5.5% 2025
Change in FHFA’s price index in Knox County, Illinois and the United States
Period
County
Illinois
U.S.
Last year (2025)
+5.5%
+5.7%
+2.9%
5 years (2020–2025)
+38%
+47%
+47%
10 years (2015–2025)
+50%
+65%
+85%
The index follows the price of the same homes over time (sales and appraisals with Fannie Mae and Freddie Mac loans). It is not the average price of a home. FHFA considers its annual county indexes experimental. Source: FHFA, 2025 data
Galesburg next to Knox County, Illinois and the U.S.
Three numbers side by side. “Typical” means the median: half are above it and half below.
Typical home value
Galesburg$96,400
Knox$111,900
Illinois$263,300
United States$332,700
Typical monthly rent
Galesburg$801
Knox$788
Illinois$1,274
United States$1,413
Typical yearly household income
Galesburg$48,297
Knox$57,030
Illinois$83,390
United States$80,734
See the full table
Galesburg next to Knox County and Illinois
Measure
Galesburg
Knox County
Illinois
U.S.
Typical home value
$96,400 ▼14% below the county
$111,900
$263,300
$332,700
Typical monthly rent
$801
$788
$1,274
$1,413
Typical yearly household income
$48,297 ▼15% below the county
$57,030
$83,390
$80,734
Households that own their home
62% ▼9 points below the county
71%
67%
65%
Typical yearly property tax
$1,917 ▼12% below the county
$2,190
$5,298
$3,119
Effective property tax rate
1.99% ▲0.03 points above the county
1.96%
2.01%
0.94%
Renters with high rent for their income
55% ▲2 points above the county
52%
48%
51%
“Typical” means the median: half are above and half are below. ▲ and ▼ say whether the city is above or below Knox County. “High rent” is the Census measure: renter households that pay 30% or more of their income in rent.
Four ways to pay for a typical home in Galesburg
For a typical $96,400 home in Galesburg, at Freddie Mac's average rate (7.18% as of November 5, 2026) over 30 years. The monthly payment adds principal and interest, Galesburg's typical property tax, an example home insurance and mortgage insurance when it applies.
FHA, 3.5% down$884a month
Least cash to close
Down payment
$3,374
Cash to close
$6,266
Rate
7.18%
Mortgage insurance
FHA MIP · $43
Conventional, 5% down$866a month
Down payment
$4,820
Cash to close
$7,712
Rate
7.18%
Mortgage insurance
PMI · $46
Conventional, 20% down, no PMI$722a month
Down payment
$19,280
Cash to close
$22,172
Rate
7.18%
Mortgage insurance
None
ITIN, 15% down (example)$812a month
Down payment
$14,460
Cash to close
$17,352
Rate
8.18%
Mortgage insurance
None
Four ways to pay for a typical home in Galesburg
Loan
Monthly payment
Down payment
Loan amount
Rate
Mortgage insurance
Cash to close
Minimum score
FHA, 3.5% down Least cash to close
$884
$3,374
$94,654
7.18%
FHA MIP · $43
$6,266
580
Conventional, 5% down
$866
$4,820
$91,580
7.18%
PMI · $46
$7,712
620*
Conventional, 20% down, no PMI
$722
$19,280
$77,120
7.18%
None
$22,172
620*
ITIN, 15% down (example)
$812
$14,460
$81,940
8.18%
None
$17,352
Set by the lender
The option that asks for the least cash to close is FHA, 3.5% down.
Cash to close = down payment plus 3% of the price in closing costs (example).
Minimum score: FHA requires 580 or higher for the minimum down payment (HUD Handbook 4000.1). * Fannie Mae requires 620 when a loan is underwritten by hand; its automated system has no fixed minimum.
The ITIN row is an example with a rate 1 percentage point higher: ITIN loans follow no federal rule and each lender sets its own down payment and rate. Nothing in this table promises an approval.
Typical rent in Galesburg is $801 a month: about the same as the county. In Galesburg, 55% of renter households pay 30% or more of their income in rent.
HUD publishes a fair market rent for all of Knox County, by unit size. To pay the 2-bedroom one ($930 a month) without spending more than 30% of your income, you would need to earn $17.88 an hour working full time.
What you need to earn to pay it without spending more than 30% of income, working full time.
HUD fair market rent in Knox County (Fiscal year 2027)
Size
Fair rent a month
Hourly wage
Yearly income
Studio
$703
$13.52
$28,120
1 bedroom
$711
$13.67
$28,440
2 bedrooms
$930
$17.88
$37,200
3 bedrooms
$1,204
$23.15
$48,160
4 bedrooms
$1,241
$23.87
$49,640
Includes basic utilities. It isn't the lowest or highest rent: it's a reference point. Source: HUD, Fiscal year 2027
By ZIP code
Fair market rent by ZIP code in Galesburg
HUD also publishes a fair market rent for each ZIP code (Small Area FMR, fiscal year 2027). Galesburg has 2 ZIP codes with their own.
For 2 bedrooms it runs from $930 in 61402 to $1,030 in 61401.
1 of the 2 is above the fair market rent for Knox County ($930).
Fair market rent by ZIP code and size in Galesburg, fiscal year 2027.
61401
$740
$840
$1,030
$1,350
$1,640
61402
$700
$710
$930
$1,200
$1,250
ZIP code2 bd3 bd
61401 $1,030$1,350
61402 $930$1,200
1 of these ZIP codes crosses the city line: HUD sets the rent by ZIP code, not by city. A ZIP code counts for Galesburg when at least 50% of its land is inside the city or it covers at least 15% of the city (Census 2020 boundaries). Source: Small Area Fair Market Rents (HUD)Fiscal year 2027Small Area Fair Market Rents (HUD) (external site)Source: Census Bureau ZCTA-to-place relationship fileData from 2020 dataCensus Bureau ZCTA-to-place relationship file (external site)
HUD lists 14 buildings with rents for lower incomes in Galesburg. These are the largest.
Family Housing572 Iowa Ave, Galesburg 61401196 homes, 190 low-income · Run by Knox County Housing Authority · Average payment: $345 a month · Average wait: 7 months · Homes at several sites(309) 342-8129
Moon Towers255 W Tompkins St, Galesburg 61401200 homes, 177 low-income · Run by Knox County Housing Authority · Average payment: $262 a month · Average wait: 9 months(309) 342-8129
Mary Allen West Tower Apartments121 W Simmons St, Galesburg 61401153 low-income homes · For families(309) 342-6493
Sandburg Village666 Home Blvd, Galesburg 61401128 low-income homes · 1 bd: 48 · 2 bd: 64 · 3 bd: 16 · For families(309) 344-2192
Galesburg Towers1384 N Henderson St, Galesburg 61401123 homes, 122 low-income · For older adults(309) 343-5565
You do not have to do this alone. A HUD-approved housing counseling agency helps for free or at low cost: getting ready to buy, understanding your credit, or solving a problem with your rent.
We found no HUD-approved agencies with an office in Knox County. The nearest ones are below; many serve by phone or online.
No down payment, repair or rent-help program on our list is for Galesburg or Knox County. The ones below are statewide in Illinois: they work in Galesburg the same as in the rest of the state.
IHDA second loan with no payments until you sell or refinance, for the down payment in Illinois.Offered by Illinois Housing Development Authority (IHDA).
No legal help resource on our list is for Galesburg or Knox County in particular.
If you have a problem with your landlord, an eviction notice or a scam, the Legal Services Corporation (LSC) search shows the free legal aid offices that serve your area.
Short answers with the numbers for Galesburg and all of Knox County. If your case is different, a HUD-approved counseling agency can guide you for free or at low cost.
How much does a typical home cost in Galesburg?
The typical home value in Galesburg is $96,400, according to the U.S. Census Bureau (average 2020–2024). For comparison, in Knox County it is $111,900.
How much does it cost to rent in Galesburg?
Typical rent in Galesburg is $801 a month, according to the U.S. Census Bureau. HUD’s fair market rent for 2 bedrooms in Knox County is $930.
What is the FHA loan limit in Galesburg?
Galesburg uses the FHA limit for all of Knox County (2026): $541,287 for a one-unit home and $1,041,125 for a four-unit home.
How much property tax do owners pay in Galesburg?
The typical homeowner in Galesburg pays $1,917 a year, according to the U.S. Census Bureau. That is 1.99% of the home’s value; in Knox County, the rate is 1.96%.
Where can I find free help to buy or rent in Galesburg?
We found no HUD-approved counseling agencies with an office in Knox County; the nearest ones are on this page. They can help you get ready to buy, with your credit, or with rent.
