Palos Hills, IL—60465
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Palos Hills, IL
As of Oct '25, the median home price in Palos Hills, IL is $274,000, with a year-over-year change of -0.1%. This indicates that home prices in Palos Hills, IL are flat. 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 | $274,000 | -0.1% |
| Single Family | $357,000 | 3.5% |
| Condos | $217,000 | 0.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $233,000 | 0.4% |
3 Bed | $333,000 | 3.7% |
4 Bed | $431,000 | 4.1% |
| 5 Bed | $509,000 | 4.5% |
% of Housing Stock
Rental Trends — Palos Hills, IL
As of July '25, Rentcast reports the average rent in Palos Hills, IL is $1,810, with a year-over-year rent change of -10.4%. Per bedroom, the median rent as of July '25 in Palos Hills, IL is 1-bedrooms: $1,400, 2-bedrooms: $1,710, 3-bedrooms: $2,700. The most common rental property sizes in Palos Hills, IL are 2-bedroom and 1-bedroom, accounting for 55.2% and 40.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,700 | $1,810 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,400 | $1,400 |
| 2 Bed Rent | $1,700 | $1,710 |
| 3 Bed Rent | $2,700 | $2,700 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Palos Hills, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Palos Hills, IL is 39. This is a increase of 9.0% 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 24.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $336,000 | 5.0% |
Listing Count | 83 | 23.0% |
| Listings as % of Homes | 0.7% | 23.0% |
Days on Market | 39 | 9.0% |
Demographics — Palos Hills, IL
As of the latest ACS Survey released in 2023, Palos Hills, IL has a population of 18,100, which has increased by 3.8% over the past 5 years. Palos Hills, IL is a moderately popular place for families, as children make up 20.7% of the population. The area has a moderately educated workforce, with 25.0% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 11.6% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 18,100 | 3.8% |
% Under 18 | 20.7% | -3.3% |
% Seniors | 19.4% | 2.1% |
% WFH | 11.6% | 251.5% |
% w/ College Degree | 25.0% | -2.7% |
As of the latest ACS Survey released in 2023, Palos Hills, IL is a predominantly white area, with 81.3% of the population identifying as white. The white population has shrunk by 2.4% in the last 5 years. The second most common race or ethnicity in Palos Hills, IL is hispanic, making up 10.7% of the population. Foreign-born residents account for 26.6% of the population in Palos Hills, IL, and this percentage has decreased by 11.3% as of the ACS Survey 5 years prior, suggesting fewer immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 81.3% | -2.4% |
% Black | 4.8% | 4.3% |
% Hispanic | 10.7% | 23.0% |
% Asian | 1.8% | -10.0% |
% Foreign Born | 26.6% | -11.3% |
Mortgage and Risk — Palos Hills, IL
According to HUD data as of 2023, there were 230 mortgage originations in Palos Hills, IL, of which 90.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Palos Hills, IL. Investor activity is low, as 1.0% of loans were by investors. 9.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 230 |
% Conventional Loans | 90.0% |
% Government Loans | 10.0% |
% Investor Loans | 1.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 9.0% |
Loan Activity
Rentals and Section 8 — Palos Hills, IL
Palos Hills, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 24 |
Total Units Section 8 | 24 |
% Rentals under Section 8 | 2.0% |
% Occupied Section 8 | 91.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $20 | $1,400 | $1,420 |
| 2 Bedroom | -$100 | $1,700 | $1,600 |
| 3 Bedroom | -$640 | $2,700 | $2,060 |
| 4 Bedroom | N/A | N/A | $2,410 |
Affordability — Palos Hills, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $274,000 |
| Median Household Income | $84,000 |