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Palos Hills Housing Information

IndexPalos HillsIllinoisNational
Median home price$189,300$174,800$184,700
Median rent asked$986$925$949
Avg. people per household2.52.62.6
Owner occupied households76.9%66.0%63.6%
Renter occupied households23.1%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, StatePopulationHome PriceNational Avg.
Hodgkins, IL1,960$32,30083%
Dixmoor, IL3,614$44,20076%
Ford Heights, IL2,775$58,80068%
Sauk Village, IL10,541$69,10063%
Phoenix, IL2,042$71,60061%
Palos Hills, IL17,545$189,3002%

Cities with similar population

City, StatePopulationHome PriceNational Avg.
Highland, UT17,544$461,500150%
Ocean Springs, MS17,547$151,50018%
Colonial Heights, VA17,554$166,80010%
Woodmere, NY17,554$593,700221%
Cocoa, FL17,558$93,20050%
Palos Hills, IL17,545$189,3002%

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