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Affordable
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These days, finding an affordable place to live in the Palos Park area can be challenging. Home prices in Palos Park are now at a median cost of $485,665, higher than the Illinois average of $300,242.
The average cost of rent is $2,516/mo in Palos Park, primarily driven by the current value of real estate in the Palos Park area. In Palos Park, 9.89% of households rent, and 52.87% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Palos Park is $10,330 per month. Households that rent pay about 24.36% of their income on rent here. Palos Park’s most expensive areas are in the northwestern 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
- Palos Hills, IL: less expensive homes
- Palos Heights, IL: less expensive homes
- Orland Park, IL: less expensive homes
- Worth, IL: less expensive homes
- Sag Bridge, IL: higher priced homes
- Hickory Hills, IL: less expensive homes
- Chicago Ridge, IL: less expensive homes
- Orland Hills, IL: less expensive homes
- Willow Springs, IL: less expensive homes
- Crestwood, IL: less expensive homes
Cities with Similar Populations
- Lincoln Park, NJ: equally priced homes
- Lake Arbor, MD: less expensive homes
- Lake City, SC: less expensive homes
- Lake Hiawatha, NJ: equally priced homes
- Lake Monticello, VA: less expensive homes
- Lakeport, CA: less expensive homes
- Lambertville, MI: less expensive homes
- Lampasas, TX: less expensive homes
- Leonardtown, MD: equally priced homes
- Lewiston, NY: less expensive homes
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