Market Overview
Home Prices in Palestine, IL
The median home value in Palestine, IL is $96,224 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's down 6.9% compared to a year ago and up 2% from two years prior.
Compared to the U.S. national median of $410,000, homes in Palestine are priced77% below average.
Price History
Palestine Home Price Trend
2023
$117,942
$118K
—
2024
$101,270
$101K
-14.1%
2025
$103,343
$103K
+2.0%
2026
$96,224
$96K
-6.9%
City Comparison
Palestine vs. National Median
🏠 Palestine
$96,224
National Median
$410,000
At $96,224, homes in Palestine cost 77% below the national median of $410,000. This makes Palestine a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Palestine?
20% Down Payment
$19,245
on $96,224
Monthly P&I
$502/mo
30-yr @ 6.8%
Total Monthly Est.
~$638/mo
incl. taxes & insurance
Income Needed
$25,520
gross annual (30% rule)
10% Down Option
$9,622
+ PMI applies
Loan Amount (20% dn)
$76,979
at current rates
Estimates assume a 30-year fixed mortgage at 6.8%. Monthly total includes estimated property taxes and homeowner's insurance. Actual costs vary.
FAQ
Frequently Asked Questions
What is the average home price in Palestine, IL?
The median home value in Palestine is $96,224 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's down 6.9% year-over-year.
How much have home prices changed in Palestine?
Over the past year, home values in Palestine have decreased by 6.9%.
How much do I need to earn to buy a home in Palestine?
To comfortably afford the median home price of $96,224 with a 20% down payment ($19,245) at today's rates (6.8%), you'd need a gross annual income of approximately $25,520. This assumes keeping total housing costs at or below 30% of gross income.
How does Palestine compare to the national average home price?
The national median home value is approximately $410,000. At $96,224, homes in Palestine are 77% below the national average.