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Garden Prairie

Learn about the people, housing, costs and businesses in Garden Prairie, Illinois

Median Home$240,000
Median Rent$1,500/month
Population294
Leading IndustriesHealthcare · Arts, Food & Hospitality15% healthcare
Home Value Growth⬆⬆+16.5% over 2 years
Young Adults28% of residentsnear the national average
Homeowners89% of occupied units
NotableHighly Educated27% bachelor's · 14% graduate · top 14% nationally
NotableHigh Incomes$87k/year · top 28% nationally
Garden Prairie
IL

Frequently Asked Questions

What are today's mortgage rates in Garden Prairie?

As of today, the 30-year fixed mortgage rate for Garden Prairie is approximately 6.960% (6.968% APR). Rates vary based on your credit score, loan type, down payment, and other factors. Safe Rate updates rates daily using live investor pricing.

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What is the median home price in Garden Prairie?

The median home value in Garden Prairie is $240k. The median monthly rent is $1,500. Annual property taxes average $5k. Home values are based on U.S. Census Bureau American Community Survey estimates.

Are home values rising in Garden Prairie?

Home values in Garden Prairie have increased 16.5% over the past two years. This indicates a strong appreciation trend. This data is sourced from the Federal Housing Finance Agency (FHFA) House Price Index.

How much income do you need to buy a home in Garden Prairie?

Based on a typical all-in ownership cost of $1,283/month (mortgage, taxes, insurance), you'd generally need a household income of approximately $55k/year to keep housing costs at or below 28% of gross income — a common lender guideline. The median household income in Garden Prairie is $87k/year.

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What industries drive the economy in Garden Prairie?

The largest employment sectors in Garden Prairie are public administration (22%) and healthcare (15%) of the local workforce. Industry data is sourced from the U.S. Census Bureau American Community Survey.