Palatine, IL—60067
Real Estate Data & Market Trends
Key Metrics at a Glance
Other Zip Codes in Palatine, IL
Home Price Trends — Palatine, IL
As of Oct '25, the median home price in Palatine, IL is $452,000, with a year-over-year change of 3.6%. This indicates that home prices in Palatine, 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 | $452,000 | 3.7% |
| Single Family | $520,000 | 4.4% |
| Condos | $276,000 | 3.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $206,000 | 4.6% |
2 Bed | $305,000 | 3.4% |
3 Bed | $422,000 | 3.9% |
4 Bed | $626,000 | 5.0% |
| 5 Bed | $748,000 | 4.0% |
% of Housing Stock
Rental Trends — Palatine, IL
As of July '25, Rentcast reports the average rent in Palatine, IL is $2,480, with a year-over-year rent change of -0.4%. Per bedroom, the median rent as of July '25 in Palatine, IL is 1-bedrooms: $1,620, 2-bedrooms: $2,050, 3-bedrooms: $3,160, 4-bedrooms: $3,830. The most common rental property sizes in Palatine, IL are 2-bedroom and 1-bedroom, accounting for 53.6% and 27.1% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $2,000 | $2,480 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,600 | $1,620 |
| 2 Bed Rent | $1,900 | $2,050 |
| 3 Bed Rent | $2,950 | $3,160 |
| 4 Bed Rent | $3,550 | $3,830 |
% of Rental Stock
Property Listings — Palatine, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Palatine, IL is 34. This is a increase of 37.0% 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 13.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $599,000 | 23.0% |
Listing Count | 134 | 2.0% |
| Listings as % of Homes | 0.5% | 2.0% |
Days on Market | 34 | 37.0% |
Demographics — Palatine, IL
As of the latest ACS Survey released in 2023, Palatine, IL has a population of 38,100, which has remained stable by -0.2% over the past 5 years. Palatine, IL is a moderately popular place for families, as children make up 21.8% of the population. The area has a highly educated workforce, with 59.4% of adult residents holding a bachelor’s degree or higher. There are some residents working remotely, with 22.5% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 38,100 | -0.2% |
% Under 18 | 21.8% | 0.0% |
% Seniors | 18.7% | 10.7% |
% WFH | 22.5% | 181.2% |
% w/ College Degree | 59.4% | -1.3% |
As of the latest ACS Survey released in 2023, Palatine, IL is a predominantly white area, with 68.4% of the population identifying as white. The white population has shrunk by 7.3% in the last 5 years. The second most common race or ethnicity in Palatine, IL is asian, making up 16.7% of the population. Foreign-born residents account for 20.1% of the population in Palatine, IL, and this percentage has increased by 4.1% 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 | 68.4% | -7.3% |
% Black | 3.7% | 117.6% |
% Hispanic | 8.2% | 9.3% |
% Asian | 16.7% | 12.8% |
% Foreign Born | 20.1% | 4.1% |
Mortgage and Risk — Palatine, IL
According to HUD data as of 2023, there were 596 mortgage originations in Palatine, IL, of which 95.0% of loans were conventional mortgages. The average loan-to-value was 66.0%, with 21.0% above 90% LTV (very high). This implies large mortgage risk in Palatine, IL. Investor activity is low, as 3.0% of loans were by investors. 7.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 596 |
% Conventional Loans | 95.0% |
% Government Loans | 5.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 7.0% |
Loan Activity
Rentals and Section 8 — Palatine, IL
As of 2024, the percent of homes in Palatine, IL under the Section 8 program is 3.5%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom units appear to be good home sizes to consider for Section 8 housing in Palatine, IL, because HUD payments exceed market rent, while 2-bedroom and 3-bedroom and 4-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 138 |
Total Units Section 8 | 138 |
% Rentals under Section 8 | 3.5% |
% Occupied Section 8 | 88.2% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $80 | $1,600 | $1,680 |
| 2 Bedroom | $0 | $1,900 | $1,900 |
| 3 Bedroom | -$510 | $2,950 | $2,440 |
| 4 Bedroom | -$680 | $3,550 | $2,870 |
Affordability — Palatine, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3.2 |
| Median Home Price | $452,000 |
| Median Household Income | $122,000 |