Palos Park, IL 60464 - Home Prices, Rental Trends, Listings & Demographics | Prop:Metrics

Palos Park, IL—60464

Real Estate Data & Market Trends

Key Metrics at a Glance

Median Home Value

$546,000

9.4% YoY Growth

Household Income

$126,000

44.1% YoY Growth

Days on Market

43.0% Shorter YoY

Home Price Forecast

1.2%

Median Rent

$5,000

95.3% YoY Growth

1-Bed Rent

N/A

2-Bed Rent

N/A

3-Bed Rent

$5,000

56.2% YoY Growth

Home Price Trends — Palos Park, IL

As of May '26, the median home price in Palos Park, IL is $546,000, with a year-over-year change of 9.4%. This indicates that home prices in Palos Park, IL are increasing. According to Zillow, the 1-year price projection is 1.2%, suggesting an increase housing market in the next year.

Cost per Home Type

Home Type	Median Home Value	YoY % Change
All Homes	$546,000	9.4%
Single Family	$587,000	9.3%
Condos	$287,000	3.6%

Cost per Home Size

Home Size	Median Home Value	YoY % Change
1 Bed

Rental Trends — Palos Park, IL

As of July '25, Rentcast reports the average rent in Palos Park, IL is $6,250, with a year-over-year rent change of 95.3%. Per bedroom, the median rent as of July '25 in Palos Park, IL is 3-bedrooms: $5,000. The most common rental property sizes in Palos Park, IL are 1-bedroom and 4-bedroom, accounting for 57.5% and 17.1% of the rental stock.

Type	Median Rent	Average Rent
Average Rent	$5,000	$6,250
Studio Rent	N/A	N/A
1 Bed Rent	N/A	N/A
2 Bed Rent	N/A	N/A
3 Bed Rent	$5,000	$5,000
4 Bed Rent	N/A	N/A

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% of Rental Stock

Studio

10.4%

1 Bedroom

57.5%

2 Bedrooms

7.2%

3 Bedrooms

7.8%

4 Bedrooms

17.1%

Property Listings — Palos Park, IL

As of May '26, Realtor.com reports that the median days on market for a home in Palos Park, IL is 16. This is a decrease of -43.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 25.0%, representing a small inventory and little supply pressure on home prices.

Metric	Zip Code Average	Year over Year % Change
Median Listing Price	$575,000	-9.0%
Listing Count	32	-5.0%
Listings as % of Homes	0.7%	-5.0%
Days on Market	16	-43.0%

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Demographics — Palos Park, IL

As of the latest ACS Survey released in 2023, Palos Park, IL has a population of 9,890, which has increased by 1.8% over the past 5 years. Palos Park, IL is a moderately popular place for families, as children make up 18.9% of the population. The area has a highly educated workforce, with 50.3% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 21.0% reporting working from home.

Metric	Latest Census	YoY % Change
Population	9,890	1.8%
% Under 18	18.9%	0.0%
% Seniors	33.5%	18.0%
% WFH	21.0%	483.3%
% w/ College Degree	50.3%	12.8%

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As of the latest ACS Survey released in 2023, Palos Park, IL is a predominantly white area, with 82.9% of the population identifying as white. The white population has shrunk by 4.6% in the last 5 years. The second most common race or ethnicity in Palos Park, IL is hispanic, making up 5.1% of the population. Foreign-born residents account for 14.3% of the population in Palos Park, IL, and this percentage has increased by 49.0% 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	82.9%	-4.6%
% Black	2.1%	75.0%
% Hispanic	5.1%	-35.4%
% Asian	5.0%	177.8%
% Foreign Born	14.3%	49.0%

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Mortgage and Risk — Palos Park, IL

According to HUD data as of 2023, there were 197 mortgage originations in Palos Park, IL, of which 93.0% of loans were conventional mortgages. The average loan-to-value was 58.0%, with 17.0% above 90% LTV (elevated). This implies medium mortgage risk in Palos Park, IL. Investor activity is low, as 1.0% 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	197
% Conventional Loans	93.0%
% Government Loans	7.0%
% Investor Loans	1.0%
% Second Loans	0.0%
% Cash Out Refinance	8.0%

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Rentals and Section 8 — Palos Park, IL

Palos Park, IL lacks sufficient Section 8 program data for analysis.

Section 8 Market Size

Total Units under HUD	83
Total Units Section 8	2
% Rentals under Section 8	0.4%
% Occupied Section 8	N/A

Section 8 Opportunity

Home Size	HUD Premium	Market Rent	Max HUD Rent
1 Bedroom	N/A	N/A	$2,220
2 Bedroom	N/A	N/A	$2,510
3 Bedroom	-$1,780	$5,000	$3,220
4 Bedroom	N/A	N/A	$3,790

Palos Park, IL—60464

Key Metrics at a Glance

Home Price Trends — Palos Park, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Palos Park, IL

% of Rental Stock

Property Listings — Palos Park, IL

Demographics — Palos Park, IL

Race and Ethnicity

Mortgage and Risk — Palos Park, IL

Mortgages

Rentals and Section 8 — Palos Park, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Palos Park, IL

Home Price to Income Ratio

Palos Park, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Willow Springs, IL

Palos Hills, IL

Orland Park, IL

Hickory Hills, IL

Orland Park, IL

Frequently Asked Questions

Metric	Zip Code Average
Home Price to Income Ratio	3.6
Median Home Price	$546,000
Median Household Income	$126,000

Palos Park, IL—60464

Key Metrics at a Glance

Home Price Trends — Palos Park, IL

Cost per Home Type

Cost per Home Size

% of Housing Stock

Rental Trends — Palos Park, IL

% of Rental Stock

Property Listings — Palos Park, IL

Demographics — Palos Park, IL

Race and Ethnicity

Mortgage and Risk — Palos Park, IL

Mortgages

Rentals and Section 8 — Palos Park, IL

Section 8 Market Size

Section 8 Opportunity

Affordability — Palos Park, IL

Home Price to Income Ratio

Palos Park, IL — ZIP Code Boundary Map

Nearby ZIP Codes

Willow Springs, IL

Palos Hills, IL

Orland Park, IL

Hickory Hills, IL

Orland Park, IL

Frequently Asked Questions

What is the average home price in Palos Park, IL 60464?

How have home prices in Palos Park, IL 60464 changed over the past year?

What is the home price projection for Palos Park, IL 60464?

What are the demographics of Palos Park, IL 60464?

How long does it take homes to sell in Palos Park, IL 60464?

What is the average rent price in Palos Park, IL 60464?