There are currently 16,823 real estate properties in Palatine, IL, with a median automated valuation model (AVM) price of $394,500.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Palatine, IL, based on current market trends, comparable real estate sales nearby, historical data and, of course, property features, among other variables. These automated home estimates are often very helpful, providing buyers and sellers with a better idea of a home’s value ahead of the negotiation process. For example, the average home price in Palatine, IL, is $429,224.00, with the most expensive house in Palatine, IL, topping out at $24,283,900.00 and the cheapest home in Palatine, IL, clocking in at $21,400.00. In other words, there’s something for every potential homebuyer or savvy investor in Palatine, IL!
With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Palatine, IL, is on a rollercoaster ride. The average rent price in Palatine, IL, is $2,232.00. Indeed, when looking to rent in Palatine, IL, you can expect to pay as little as $570.00 or as much as $4,470.00, with the average rent median estimated to be $2,110.00. The good news is that finding an affordable and desirable property to rent in Palatine, IL -- whether it’s apartments, townhomes, condominiums or single-family homes -- is made easier with knowledge of the local market and, of course, a little patience.
Find the best foreclosure homes listings for sale — bank-owned, government (Fannie Mae, Freddie Mac, HUD, etc.) and others — in and near the Palatine, IL area at Foreclosure.com. Get information on foreclosure homes for rent, how to buy foreclosures in Palatine, IL and much more. Save thousands at closing with home foreclosure listings in Palatine, IL — up to 75% off market value!
Palatine is located in Cook, Illinois, with an estimated municipal population of 67,482 residents. All of the best foreclosed homes for sale in Palatine are located in the following zip code areas on Foreclosure.com: 60074 60067 60055 60095. The estimated population per square kilometer (.62 miles) in Palatine is 1,916.
So, about how much do homes cost in Palatine? The most recent median value of resident-owned homes in Palatine is 284,035. An estimated 69 percent of households in Palatine own their homes, with an average family size of 3.16. The median household income in Palatine is 80,526, with41.3 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Palatine, the median commute time of resident workers (in minutes) is 29.7. And last, but certainly not least, are you looking for homes to rent in Palatine? If so, the average rent price paid by renters in Palatine is 1,200, according to recent statistics.
Where a home is located is almost just as important as the home itself. Whether you are a first-time homebuyer or are relocating to Palatine, it is essential to take a deep dive into your potential future neighborhood. Homeownership is often a long-term relationship; therefore, be sure to do your due diligence to ensure that you make the best long-term decision.
The median age of residents in Palatine is 38.2, split between 49.6 percent male versus 50.4 female. The percentage of residents who report being married in Palatine is 54.2, with an average family size of 3.16.
The percentage of residents who report their race in Palatine is as follows:
|Black / African American||2.8%|
|American Indian / Alaskan Native||0.3%|
|Native Hawaiian / Other Pacifc Islander||0%|
Looking for family-friendly neighborhoods in and/or near Palatine? Or maybe you are searching for 55+ active adult communities in and/or near Palatine?
The percentage of residents who report their age in Palatine is as follows:
It was a rollercoaster ride for academics in 2020, with school districts throughout the nation transferring their classes online because of the global pandemic. Numerous school districts will continue online courses, while others will welcome students back to campus. Regardless, homebuyers are shopping for homes in Palatine with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Palatine.
How do you know that living in -- or moving to -- Palatine is right where you need to be? Perhaps you grew up in Palatine or already live nearby; therefore, the decision to buy a home in Palatine is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Palatine for work or just looking for a fresh start, getting a read on a neighborhood from afar (online) can be tricky... and exhausting.
Here are some questions to ask yourself when shopping for foreclosed homes for sale in Palatine:
In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Palatine.
Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Palatine can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Palatine, meanwhile, can field multiple offers from more qualified buyers.
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