Palos Hills, Illinois Real Estate & Housing Market

Palos Hills, IL Listings

For Sale For Rent

Find real estate listings

Find rental listings

Palos Hills Housing Information

Index	Palos Hills	Illinois	National
Median home price	$189,300	$174,800	$184,700
Median rent asked	$986	$925	$949
Avg. people per household	2.5	2.6	2.6
Owner occupied households	76.9%	66.0%	63.6%
Renter occupied households	23.1%	34.0%	36.4%

Above, you will see a summary of real estate in Palos Hills, IL. On average, homes in Palos Hills, IL cost $189,300, a value that is 8% higher than the average in Illinois. In general terms, this results in Palos Hills, IL real estate being less affordable than Illinois real estate. On average, people who rent houses in Palos Hills, IL pay $986; this value is 7% higher than the average amount renters pay in Illinois. 76.9% of Palos Hills, IL residents own their own homes and, on average, each of the homes has 2.5 occupants. Palos Hills, IL real estate features a range of homes, which include everthing from large houses to small condos to stacked townhomes. Accessing real estate listings and homes that are up for sale in Palos Hills, IL is easy because in our search area shown above, we categorize real estate and homes based on location, price, and the number of bedrooms and bathrooms.

Palos Hills Home Affordability

It’s advisable to look at home affordability when trying to find the ideal place to find real estate in Palos Hills, IL. To estimate home affordability, one method is to use the ratio of home price to median household income. The Palos Hills, IL’s median home price stands at $189,300 while $57,744 is the value of the average household income. The resulting home price to income ratio, which is 3.3x, differs from the Illinois average as the ratio is 11% higher than the state’s average. The average home price divided by the median home income results in the home affordability ratio. Considering the comparison between the home price and home income, homes in Palos Hills, IL are considered less expensive if the ratio of home price to income is lower. Besides the home price to median household income ratio, other considerable factors do apply in determining home affordability. Using the home affordability calculator displayed below can help determine the exact price that suits any budget when searching for real estate in Palos Hills, IL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Hodgkins, IL	1,960	$32,300	83%
Dixmoor, IL	3,614	$44,200	76%
Ford Heights, IL	2,775	$58,800	68%
Sauk Village, IL	10,541	$69,100	63%
Phoenix, IL	2,042	$71,600	61%
Palos Hills, IL	17,545	$189,300	2%

Cities with similar population

City, State	Population	Home Price	National Avg.
Highland, UT	17,544	$461,500	150%
Ocean Springs, MS	17,547	$151,500	18%
Colonial Heights, VA	17,554	$166,800	10%
Woodmere, NY	17,554	$593,700	221%
Cocoa, FL	17,558	$93,200	50%
Palos Hills, IL	17,545	$189,300	2%

Source: The Palos Hills, IL housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).