Rent To Own Homes in Palos Heights, IL

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Home Value Estimator For Palos Heights, IL

There are currently 5,731 real estate properties in Palos Heights, IL, with a median automated valuation model (AVM) price of $338,963.00. What is an AVM? It is a smart computer program that analyzes and predicts the approximate value of a home, property or land in Palos Heights, 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 Palos Heights, IL, is $358,258.00, with the most expensive house in Palos Heights, IL, topping out at $1,967,619.00 and the cheapest home in Palos Heights, IL, clocking in at $65,179.00. In other words, there’s something for every potential homebuyer or savvy investor in Palos Heights, IL!

Rent Prices In Palos Heights, IL

With the expiration of certain local, state and federal housing-related restrictions and mandated programs, the rental market in Palos Heights, IL, is on a rollercoaster ride. The average rent price in Palos Heights, IL, is $2,264.00. Indeed, when looking to rent in Palos Heights, IL, you can expect to pay as little as $1,300.00 or as much as $5,500.00, with the average rent median estimated to be $2,150.00. The good news is that finding an affordable and desirable property to rent in Palos Heights, 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.

Top Reasons To Live In Palos Heights, IL In 2024

Palos Heights is located in Cook, Illinois, with an estimated municipal population of 12,520 residents. All of the best foreclosed homes for sale in Palos Heights are located in the following zip code areas on 60463. The estimated population per square kilometer (.62 miles) in Palos Heights is 1,281.

Cost Of Living In Palos Heights, IL

So, about how much do homes cost in Palos Heights? The most recent median value of resident-owned homes in Palos Heights is 282,173. An estimated 95.2 percent of households in Palos Heights own their homes, with an average family size of 3.03. The median household income in Palos Heights is 89,286, with43.8 percentage of households earning at least $100,000 annually. For working parents and professionals who are searching for cheap homes in Palos Heights, the median commute time of resident workers (in minutes) is 33. And last, but certainly not least, are you looking for homes to rent in Palos Heights? If so, the average rent price paid by renters in Palos Heights is 1,322, according to recent statistics.

Diversity And Demographics In Palos Heights, Illinois

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 Palos Heights, 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 Palos Heights is 52.1, split between 47.6 percent male versus 52.4 female. The percentage of residents who report being married in Palos Heights is 56.4, with an average family size of 3.03.

The percentage of residents who report their race in Palos Heights is as follows:

White 92.5%
Black / African American 2.1%
Asian 1.8%
American Indian / Alaskan Native 0.5%
Native Hawaiian / Other Pacifc Islander 0%
Multi-racial 2%
Other 1%

Looking for family-friendly neighborhoods in and/or near Palos Heights? Or maybe you are searching for 55+ active adult communities in and/or near Palos Heights?

The percentage of residents who report their age in Palos Heights is as follows:

Under 10 8.8%
Aged 10-19 12.3%
20s 8.2%
30s 9.5%
40s 8.4%
50s 14.1%
60s 17.8%
70s 11.9%
80+ 8.8%

Best Schools In Palos Heights, Illinois

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 Palos Heights with dedicated in-home learning spaces, as well as for homes located within the best school systems for in-person instruction in Palos Heights.

Pros And Cons Of Living In Palos Heights, Illinois

How do you know that living in -- or moving to -- Palos Heights is right where you need to be? Perhaps you grew up in Palos Heights or already live nearby; therefore, the decision to buy a home in Palos Heights is a no-brainer. For others, however, it may not be such a straightforward or simple decision. Whether you are relocating to Palos Heights 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 Palos Heights:

  • What type of neighborhood environment (suburban, urban, rural, etc.) do you prefer?
  • What types of shopping (mom and pop, mall, big box), restaurants (fast food, chain, local) and businesses (small, big, mixed) would you like nearby?
  • What leisure-time activities (golf, biking, hiking, etc.) do you enjoy?
  • What type of commute (car, plane, home office) do you seek?

In short, it always helps to create a “Pros vs. Cons” list of what you need in a home and/or neighborhood like Palos Heights.

Reasons To Move To Palos Heights, Illinois, In 2024

Prospective homebuyers are clearly taking advantage of the low interest rates and numerous government assistance programs. These low interest rates mean homebuyers in Palos Heights can now afford much more house for the same monthly payment (if interest rates were higher). Motivated and opportunistic sellers in Palos Heights, meanwhile, can field multiple offers from more qualified buyers.

Palos Heights, IL Rent To Own Homes


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