Gillespie, IL
Population 3,118 · Illinois
About Gillespie, IL
Gillespie is a small town located in Illinois with a population of 3,118 residents according to the latest US Census Bureau American Community Survey data. The median household income is $76,806 per year, which is 2% above the national median of $75,149. The median age of 44.7 years is notably older the US median age of 38.9 years, suggesting a more established community with a higher proportion of long-term residents.
Housing Market Overview
The housing market in Gillespie features a median home value of $89,500, which is 63% below the national median of $244,900. This makes Gillespie one of the more affordable markets in the country, potentially attractive for first-time homebuyers. Median monthly rent is $756, 35% below the national average of $1,163/month. Of the 1,465 total housing units, 65% are owner-occupied (836 units) and 35% are renter-occupied (446 units). The balanced mix of owners and renters indicates a diverse housing market.
Economy & Employment
The local economy in Gillespie shows an unemployment rate of 4.6%, which is near the national rate of 3.7%. The poverty rate stands at 17.0%, above the national average of 12.4%. Workers in Gillespie have an average one-way commute time of 30.5 minutes.
Education & Demographics
18.6% of Gillespie residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The lower educational attainment rate may reflect the area's industry mix, with more employment in trades, manufacturing, or agricultural sectors. The community's demographic composition includes 0.9% White, 1.1% Hispanic or Latino, 0.0% Black or African American, and 0.0% Asian residents, with 0.0% of the population being foreign-born.
Cost of Living in Gillespie, IL
Compared to national averages, Gillespie has a median household income of $76,806 (2% above the national median of $75,149). Home values average $89,500, which is 63% below the national median. Monthly rent at $756 is 35% below the US average of $1,163. Within Illinois, Gillespie's income is 2% above the state average of $75,072, and home values are 46% below the state median of $165,779.
Why Live in Gillespie, IL?
Gillespie offers a strong local economy with a median household income of $76,806, well above the national average, and affordable housing with a median home value of $89,500, below the US average of $244,900, and rent that’s lower than the national average at $756/month.
Gillespie has a population of 3,118 with a median age of 44.7 years. Compare Gillespie with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Gillespie
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| North Barrington | 3,113 | $216,250 | $690,900 | Compare |
| Georgetown | 3,105 | $56,781 | $70,500 | Compare |
| Carlyle | 3,134 | $67,083 | $151,900 | Compare |
| Knoxville | 3,137 | $80,385 | $139,900 | Compare |
| East Dundee | 3,156 | $87,102 | $260,000 | Compare |
| Momence | 3,076 | $52,048 | $159,600 | Compare |
| Holiday Shores | 3,162 | $98,265 | $231,300 | Compare |
| Sleepy Hollow | 3,165 | $147,407 | $365,200 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Gillespie With Other Cities
Frequently Asked Questions about Gillespie
What is the population of Gillespie, IL?
The population of Gillespie, IL is 3,118 according to the latest US Census Bureau American Community Survey estimates. This makes it a small town in Illinois.
What is the median household income in Gillespie?
The median household income in Gillespie, IL is $76,806 per year, which is 2% above the national median of $75,149.
What is the median home value in Gillespie?
The median home value in Gillespie, IL is $89,500, which is 63% below the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Gillespie?
The median monthly rent in Gillespie, IL is $756, which is 35% below the national average of $1,163/month.
What is the unemployment rate in Gillespie?
The unemployment rate in Gillespie, IL is 4.6%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Gillespie, IL a good place to live?
Gillespie offers above-average incomes, affordable housing, and growing employment opportunities. With a population of 3,118 and a median age of 44.7, the city appeals to a broad range of residents.
How educated is Gillespie, IL?
18.6% of residents in Gillespie aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. The educational profile reflects the area's industry mix and employment landscape.
What is the cost of living in Gillespie?
Key cost-of-living indicators for Gillespie, IL: median home value is $89,500 (63% below national), median rent is $756/month, and median household income is $76,806. The home-value-to-income ratio is 1.2x, indicating relatively affordable housing relative to local incomes.
What is the poverty rate in Gillespie?
The poverty rate in Gillespie, IL is 17.0%, compared to the national average of 12.4%. Residents and prospective movers should be aware of the economic challenges facing parts of this community.
How diverse is Gillespie, IL?
Gillespie's population is 0.9% White, 1.1% Hispanic or Latino, 0.0% Black or African American, 0.0% Asian, and 0.0% two or more races. 0.0% of residents are foreign-born.