Palos Heights, IL—60463
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Palos Heights, IL
As of Oct '25, the median home price in Palos Heights, IL is $381,000, with a year-over-year change of 2.2%. This indicates that home prices in Palos Heights, IL are increasing. According to Zillow, the 1-year price projection is 0.9%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $381,000 | 2.2% |
| Single Family | $408,000 | 3.0% |
| Condos | $310,000 | 2.3% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $304,000 | 2.4% |
3 Bed | $365,000 | 3.1% |
4 Bed | $446,000 | 2.8% |
| 5 Bed | $546,000 | 1.7% |
% of Housing Stock
Rental Trends — Palos Heights, IL
As of July '25, Rentcast reports the average rent in Palos Heights, IL is $1,400, with a year-over-year rent change of -41.4%. Per bedroom, the median rent as of July '25 in Palos Heights, IL is 2-bedrooms: $1,400. The most common rental property sizes in Palos Heights, IL are 1-bedroom and 3-bedroom, accounting for 26.4% and 20.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,400 | $1,400 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | N/A | N/A |
| 2 Bed Rent | $1,400 | $1,400 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Palos Heights, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Palos Heights, IL is 34. This is a increase of 25.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 21.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $362,000 | 2.0% |
Listing Count | 57 | 21.0% |
| Listings as % of Homes | 0.7% | 21.0% |
Days on Market | 34 | 25.0% |
Demographics — Palos Heights, IL
As of the latest ACS Survey released in 2023, Palos Heights, IL has a population of 13,400, which has decreased by -10.5% over the past 5 years. Palos Heights, IL is a moderately popular place for families, as children make up 18.6% of the population. The area has a moderately educated workforce, with 41.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 13,400 | -10.5% |
% Under 18 | 18.6% | 9.4% |
% Seniors | 30.0% | 2.7% |
% WFH | 11.7% | 51.9% |
% w/ College Degree | 41.0% | -6.0% |
As of the latest ACS Survey released in 2023, Palos Heights, IL is a predominantly white area, with 84.8% of the population identifying as white. The white population has shrunk by 6.9% in the last 5 years. The second most common race or ethnicity in Palos Heights, IL is hispanic, making up 10.0% of the population. Foreign-born residents account for 9.1% of the population in Palos Heights, IL, and this percentage has increased by 16.7% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 84.8% | -6.9% |
% Black | 2.3% | 21.1% |
% Hispanic | 10.0% | 156.4% |
% Asian | 0.3% | -84.2% |
% Foreign Born | 9.1% | 16.7% |
Mortgage and Risk — Palos Heights, IL
According to HUD data as of 2023, there were 203 mortgage originations in Palos Heights, IL, of which 91.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 31.0% above 90% LTV (very high). This implies large mortgage risk in Palos Heights, IL. Investor activity is low, as 0.0% of loans were by investors. 8.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 203 |
% Conventional Loans | 91.0% |
% Government Loans | 9.0% |
% Investor Loans | 0.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 8.0% |
Loan Activity
Rentals and Section 8 — Palos Heights, IL
Palos Heights, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 5 |
Total Units Section 8 | 5 |
% Rentals under Section 8 | 2.2% |
% Occupied Section 8 | N/A |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | N/A | N/A | $1,810 |
| 2 Bedroom | $640 | $1,400 | $2,040 |
| 3 Bedroom | N/A | N/A | $2,620 |
| 4 Bedroom | N/A | N/A | $3,080 |
Affordability — Palos Heights, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.3 |
| Median Home Price | $381,000 |
| Median Household Income | $105,000 |