Market Overview
Home Prices in Palos Heights, IL
The median home value in Palos Heights, IL is $409,403 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.9% compared to a year ago and up 1.8% from two years prior.
Compared to the U.S. national median of $410,000, homes in Palos Heights are priced0% below average. Palos Heights is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Palos Heights home values have risen by approximately25.7%, reflecting strong long-term appreciation in this market.
Price History
Palos Heights Home Price Trend
City Comparison
Palos Heights vs. National Median
At $409,403, homes in Palos Heights cost 0% below the national median of $410,000. This makes Palos Heights a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Palos Heights?
20% Down Payment
$81,881
on $409,403
Monthly P&I
$2,135/mo
30-yr @ 6.8%
Total Monthly Est.
~$2,711/mo
incl. taxes & insurance
Income Needed
$108,440
gross annual (30% rule)
10% Down Option
$40,940
+ PMI applies
Loan Amount (20% dn)
$327,522
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 Palos Heights, IL?
The median home value in Palos Heights is $409,403 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.9% year-over-year.
How much have home prices changed in Palos Heights?
Over the past year, home values in Palos Heights have increased by 4.9%. Over five years, prices have risen approximately 25.7%.
How much do I need to earn to buy a home in Palos Heights?
To comfortably afford the median home price of $409,403 with a 20% down payment ($81,881) at today's rates (6.8%), you'd need a gross annual income of approximately $108,440. This assumes keeping total housing costs at or below 30% of gross income.
How does Palos Heights compare to the national average home price?
The national median home value is approximately $410,000. At $409,403, homes in Palos Heights are 0% below the national average.
What metro area is Palos Heights part of?
Palos Heights is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.