Palatine, Illinois.
Typical home $389,955 (+6.6% in a year), asking rent $1,895 (+2.3%). Chicago-Naperville-Elgin, IL-IN-WI metro.
to buy the typical home at today's mortgage rate — +$1,088 (+114%) since Jan 2020.
- 1 year
- Up $24,253 +7%
- $365,702$389,955 since Sep 2025
- 5 years
- Up $98,055 +34%
- $291,901$389,955 since Sep 2021
Monthly payment to buy the typical home
Home value × that month's 30-year mortgage rate, 20% down, principal and interest. This is the line households feel: prices and rates compound each other.
- Palatine$2,047
- Illinois$1,553
- United States$1,922
At the last five years' pace, a typical home here doubles in price every 12 years.
Typical home values in Palatine, IL rose 6.6% over the past year — faster than the nation's +1.2%.
Asking rents in Palatine, IL rose 2.3% over the past year — slower than the nation's +2.7%.
Owning the typical home in Palatine runs $1,190/mo more than renting one — the widest that gap has been in this data.
That is $3,084 a month against $1,895 rent: a $2,047 mortgage payment, plus $620 property tax and $417 insurance & upkeep.
Owning vs renting — Palatine
The owning line is the typical home's monthly payment at that month's rate, plus property tax and insurance & upkeep; the renting line is the typical asking rent; the grey line is the mortgage payment on its own. Same homes, same months, both ways of paying for a roof.
- Owning all in$3,084
- Renting$1,895
- Mortgage only$2,047
Property tax · $620/mo 1.91% of value a year — the ACS 2020-2024 median bill over the median home value for Cook County, IL
Insurance & upkeep · $417/mo insurance, maintenance and repairs together, from the BLS Consumer Expenditure Survey — the national figure for mortgaged homeowners, scaled to this market's home value. BLS publishes the three bundled and they cannot be split.
Both are priced off the same month's home value, so they rise with the market. Neither is a quote — a specific home's bill depends on its assessment, its age and its insurer.
Living in Palatine, Cook County, Illinois
Palatine is a village of 67,908 people in Cook County. Half its households earn more than $97,819 a year and half less, against $83,498 across Cook County; 8% of its people live below the poverty line. 67% of its homes are lived in by their owners and 33% are rented. Unemployment in Palatine was 4.7% in August 2026, and Cook County had 1.1% more jobs in 2025 than the year before. The most residents work in schools and health care, then professional services.
Written by AI Claude Sonnet 5.5 wrote this on 23 October 2026 from the figures here, a list of nearby places and what it knows. It can be wrong or out of date.
What it’s like
The place. Palatine is a village in Cook County, in the northwest suburbs of the Chicago area. Most homes are lived in by their owners, though renters make up a real share of households too. Incomes run above the county's, and more adults hold a four-year degree than is typical, so the village has a settled, well-educated feel.
Work. Residents work mainly in schools, hospitals and social care, in professional and business services, in manufacturing, and in banks, insurance and property. Among the largest workplaces in Palatine are Northrop Grumman Systems, which builds navigation and guidance equipment, along with Township HSD Schools and Palatine CCSD 15 Schools. The commute is a fairly long one, and a good many people work from home.
Things to do. The city draws most outings, and all of it is a longer drive away. The Art Institute of Chicago is one of the best known art museums in the country, and the Field Museum of Natural History is another large museum. Millennium Park is a city garden and gathering place, and the Chicago Botanic Garden is a botanical garden with winter weather to plan around: cold, snowy months, and a warm July.
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- 27,303households
- 51%of adults have a degree
- 8%below the poverty line
- 28 mintypical commute
- 21%work from home
What residents work in
Employed residents by industry, from the Census survey. Cook County had 2,594,810 jobs in 2025, 1.1% more than the year before (Bureau of Labor Statistics).
Weather through the year
Coldest in January, with highs near 29° and lows near 13°; warmest in July, with highs near 81° and lows near 63°. About 38 inches of snow and 40 inches of rain and melted snow a year.
Average daily high and low, 1991–2020, at the Barrington 3SW weather station, 6 miles away (NOAA).
Largest workplaces in Palatine
- Northrop Grumman SystemsSearch detection navigation guidance aeronautical and nautical system and instrument manufacturing2,705
- Township HSD 211School district2,053FTE
- Palatine CCSD 15School district1,815FTE
- UPSCouriers and express delivery services1,712
- PalatineMail and parcel delivery877
- Village HallGeneral public administration351
- Fremd High SchoolAcademies, elementary or secondary350
- AmazonCouriers and express delivery services257
Staff on average in 2025, as each workplace reported it to OSHA with its injury records: 33 workplaces with 20 or more staff, 8,994 people in all. School districts come from the Common Core of Data (NCES, 2023–24); FTE marks full-time equivalent staff. Not listed: many offices and banks, which need not report to OSHA; military bases, whose staff OPM withholds; and, in about half the states, city and county governments.
Natural hazards
- Cold wavesVery high
- Heat wavesRelatively high
- TornadoesRelatively high
- Inland floodingrelatively high in parts of PalatineRelatively moderate
- Winter weatherRelatively moderate
FEMA’s National Risk Index (December 2025) rates the risk each natural hazard poses to the people, buildings and farms in Palatine’s census tracts, against the rest of the country; all of them together, relatively moderate. It is meant for planning, not a substitute for a local risk assessment or a flood map: FEMA’s index.
From the U.S. Census Bureau’s 2020 census and its American Community Survey (2020–2024 five-year estimates), and the Bureau of Labor Statistics. A survey, so each figure has a margin of error, and figures it is not sure of are left out. More on Cook County and the Chicago-Naperville-Elgin, IL-IN-WI metro.
Palatine home values
Zillow measures a city over its municipal boundary. Against the state and national figures, mid-tier homes, smoothed and seasonally adjusted.
- Palatine$389,955
- Illinois$295,943
- United States$366,157
Levy by levy, and a check of one home’s own bill, the site covers Ohio’s property tax.
Sellers are cutting prices on about 1 in 4 Palatine listings, and the typical home goes pending in 11 days — the market is cooling.
When this market ran hot
Each cell is that month's year-on-year home-value growth. Read left to right, top row is the latest year — the 2021–22 band is the boom.
Market heat, inside the city limits
Share of listings with a price cut
The early-warning dial: sellers cut when buyers stop reaching. Rising cuts cool a market months before prices notice.
- Palatine27.22%
- United States26.90%
Days to pending
How long the typical listing takes to go under contract.
- Palatine11
- United States27
Homes for sale
Active for-sale inventory. More supply hands power to buyers.
- Palatine202
New listings per month
Sellers arriving at the market.
- Palatine87
Median sale price
What buyers actually paid — closed sales, not asking prices.
- Palatine$371,614
- United States$371,407
Sale-to-list ratio
Above 100%, homes sell over asking; below, buyers negotiate wins.
- Palatine101.19%
Zip codes with a Palatine address
A different geography, not a breakdown. The figure above covers the municipality; these zips cover everywhere the Post Office calls Palatine — often including townships beyond the city limits. Both come straight from Zillow, and they are not expected to average out.
Zip codes in Palatine
| Zip activate to sort by Zip | Place activate to sort by Place | Population sorted descending, activate to sort ascending | Rent activate to sort by Rent | Home value activate to sort by Home value |
|---|---|---|---|---|
| 60067 | Palatine | 38,204 | $1,815 | $486,266 |
| 60074 | Palatine | 36,460 | $1,945 | $315,140 |