Galesburg, IL

Very Low · 44

Illinois · Population 29,653 · Updated March 2026

$719
Median Rent / Month
$45,213
Median Income
$89,800
Median Home Value
$750
Owner Costs / Month

Affordability

How far your income goes in Galesburg

19.1%
Rent-to-Income Ratio
Affordable
Rent takes less than 25% of median income — considered affordable by HUD standards.

Tax Burden in Illinois

State-level tax rates that affect your costs

4.95%
Income Tax (Top Rate)
6.25%
Sales Tax
2.07%
Property Tax Rate

Estimated Annual Costs

$8,628
Annual Rent
$2,238
State Income Tax
$1,859
Property Tax (est.)

Cost of Living Overview

Galesburg is significantly cheaper than the national average, making it an attractive option for budget-conscious individuals and families. With a cost index of 44 (where 100 equals the national median), Galesburg residents can expect to pay median rent of $719/month while earning a median household income of $45,213/year.

The median home value in Galesburg, IL is $89,800, with typical monthly owner costs around $750 including mortgage, insurance, and taxes. The median rent-to-income ratio of 19.1% means housing is relatively affordable here — well below the 30% threshold that HUD considers cost-burdened.

Illinois has a moderate income tax rate of 4.95%. Combined with a 6.25% sales tax rate and 2.07% effective property tax rate, the overall tax environment is a factor in the total cost of living in Galesburg.

Frequently Asked Questions

Common questions about living costs in Galesburg

What is the cost of living in Galesburg, IL?
The cost of living index in Galesburg, IL is 44 (US average = 100). Median monthly rent is $719, median household income is $45,213/year, and the median home value is $89,800.
Is Galesburg, IL affordable?
Yes, Galesburg is more affordable than the national average with a cost index of 44. The rent-to-income ratio is 19.1%—below the 30%% threshold considered affordable by HUD.
What is the average rent in Galesburg, IL?
The median gross rent in Galesburg, IL is $719 per month according to the US Census Bureau ACS 2023 data. Annual rent costs approximately $8,628.
What is the median household income in Galesburg?
The median household income in Galesburg, IL is $45,213 per year. This compares to the national median of approximately $80,000.
What are the taxes like in Illinois?
Illinois has a top income tax rate of 4.95%, a sales tax of 6.25%, and an effective property tax rate of 2.07%.