What It Costs to Own a Home in Gilroy Each Month (2026)

The median Gilroy house sold for $1.16M in the last 12 months. With 20% down and a 30-year fixed loan at 7.24%, Freddie Mac’s average for the week of October 29, 2026, the mortgage and property tax come to about $7,480 a month. Here’s how the down payment, the rate and the loan limit change those numbers, and what isn’t in them. We’re the Property Nerds, so every figure comes from real sales and public rates.

The short answer

• Median house ($1.16M): about $7,480 a month with 20% down ($232,000 at closing): $6,310 principal and interest plus $1,170 property tax.
• Condos and townhomes: Gilroy had only 28 condo and townhome sales in the last 12 months, under the 30 a year we use for a city-wide condo figure, so this post covers houses.
• Each half point of rate moves the median house’s payment by about $320 a month.
• Loan size: 80% of Gilroy houses sold for $1.56M or less, the most a 20%-down buyer can pay and stay under the 2026 conforming loan limit of $1,249,125. Above that, the loan is a jumbo.

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The monthly cost, down payment by down payment

Median prices from the last 12 months (October 28, 2025 to October 27, 2026). The loan is a 30-year fixed at 7.24%. Property tax is the purchase price, less the $7,000 homeowners’ exemption, times Gilroy’s typical 2025–26 rate of 1.2186% (our Gilroy property tax post explains the rate).

How much the rate matters

The median Gilroy house with 20% down, at rates from 6.24% to 8.24%. The tax doesn’t change with the rate; the loan payment does.

A 15-year loan at 6.6%, Freddie Mac’s 15-year average the same week, pays off faster but costs more each month: about $9,290 for the median house, tax included.

Conforming or jumbo

The 2026 conforming loan limit for a one-unit home in Santa Clara County is $1,249,125 (FHFA). Loans above it are jumbo loans, which lenders price and qualify on their own terms. With 20% down, the line falls at a price of about $1.56M. In the last 12 months, 80% of Gilroy houses sold at or under that price. The median house’s loan, $926,000 with 20% down, is under the limit.

The entry point

A quarter of Gilroy houses sold for $925K or less in the last 12 months; at that price, 20% down is $185,000 and the monthly cost is about $5,980.

What isn’t in these numbers

• Homeowners insurance, which depends on the home, its location and the insurer.
• HOA dues on condos, townhomes and some houses, which can be several hundred dollars a month or more and often cover shared insurance and upkeep.
• Parcel taxes and fixed charges on the tax bill, which vary by address.
• The supplemental tax bill after you buy (how it works).
• Mortgage insurance if you put down less than 20%, and maintenance.

Gilroy against five other Santa Clara County cities

Same assumptions: 20% down, 7.24%, each city’s own typical tax rate. The comparison is in what it costs to own a home in the South Bay, city by city; for Palo Alto, Los Altos, Sunnyvale, Cupertino, Santa Clara, Los Gatos and Saratoga, see what it costs to own in Silicon Valley, city by city.

Ways to bring the monthly number down

• A bigger down payment: going from 20% to 30% down on the median house cuts the payment by about $790 a month, and takes $116,000 more cash at closing.
• The rate: each half point is worth about $320 a month here. Compare several lenders, and ask what paying points at closing would do to the rate.
• The tax part doesn’t depend on the rate. Year one is about $14,000 on the median house after the homeowners’ exemption ($14,100 before it, the figure in our Gilroy property tax post). After that, Prop 13 caps the rise in assessed value at 2% a year, plus any new voter-approved charges, while the payment on a fixed-rate loan stays the same.

Questions we get

How much do you need to buy the median house in Gilroy?

At $1.16M, 20% down is $232,000, plus closing costs. The loan, $926,000, is under the $1,249,125 conforming limit.

What does an entry-level Gilroy house cost each month?

A quarter of Gilroy houses sold for $925K or less in the last 12 months. At that price, with 20% down at 7.24%, the mortgage and tax run about $5,980 a month.

Does a lower rate make a big difference?

Yes. On the median Gilroy house, each half point is worth about $320 a month. At 6.24% the payment would be about $6,870; at 8.24%, about $8,120.

How we counted

Prices are medians of closed sales reported to the MLS and read through the IDX feeds that power our home search, one record per sale with a usable living area and map position, the same rules as our city price posts. Houses are MLS property type “single family home”; condos include townhomes. The window is the last 12 months (October 28, 2025 to October 27, 2026). Payments use the standard fixed-rate formula on the price less the down payment, at Freddie Mac’s Primary Mortgage Market Survey averages for the week of October 29, 2026 (freddiemac.com/pmms): 7.24% for a 30-year loan and 6.6% for a 15-year loan. Those are national averages for conforming loans; jumbo rates can be higher or lower, and your rate depends on your credit, loan and lender. Property tax uses Gilroy’s typical 2025–26 rate from the county’s rate book (the rate where the middle dollar of the city’s assessed value sits), after the homeowners’ exemption. The conforming limit is FHFA’s 2026 figure. Past sales aren’t a forecast or the value of any one home, and nothing here is financial, tax or legal advice.

Go deeper

Gilroy property tax rate, Mortgage Lab, using RSUs for a down payment, Gilroy condo and townhome prices and our real estate calculators.

Talk to a Property Nerd

We’re the Property Nerds at Compass, recognized as NextGenAgents by a national real estate portal. We’ll pull the sales that matter for your home and your plans, and walk you through what they mean. Call (408) 373-1660 or (650) 383-8606, or book a strategy call. Commissions are negotiable, and we offer bundled services, so ask us what’s included.