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Affordable
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These days, finding an affordable place to live in the Palatine area can be challenging. Home prices in Palatine are now at a median cost of $342,881, higher than the Illinois average of $300,242.
The average cost of rent is $1,705/mo in Palatine, primarily driven by the current value of real estate in the Palatine area. In Palatine, 34.15% of households rent, and 35.83% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Palatine is $9,395 per month. Households that rent pay about 18.14% of their income on rent here. Palatine’s most expensive areas are in the southwestern regions, while the cheapest areas are in the northeastern parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
- Arlington Heights, IL: higher priced homes
- Inverness, IL: higher priced homes
- Rolling Meadows, IL: equally priced homes
- Deer Park, IL: higher priced homes
- Kildeer, IL: higher priced homes
- Buffalo Grove, IL: higher priced homes
- Wheeling, IL: less expensive homes
- Barrington, IL: higher priced homes
- Long Grove, IL: higher priced homes
- Lake Zurich, IL: higher priced homes
Cities with Similar Populations
- Hartford, CT: equally priced homes
- Hattiesburg, MS: less expensive homes
- Harrisburg, PA: less expensive homes
- Germantown, MD: higher priced homes
- Georgetown, TX: higher priced homes
- Gastonia, NC: less expensive homes
- Gilbert, AZ: higher priced homes
- Gresham, OR: higher priced homes
- Greenville, SC: less expensive homes
- Hagerstown, MD: less expensive homes
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