Market Overview
Home Prices in Palos Hills, IL
The median home value in Palos Hills, IL is $300,710 as of mid-2026, according to Zillow's Home Value Index (ZHVI).That's up 4.2% compared to a year ago and up 0.1% from two years prior.
Compared to the U.S. national median of $410,000, homes in Palos Hills are priced27% below average. Palos Hills is part of the Chicago-Naperville-Elgin, IL-IN-WI metro area.
Over the past five years, Palos Hills home values have risen by approximately23.6%, reflecting strong long-term appreciation in this market.
Price History
Palos Hills Home Price Trend
City Comparison
Palos Hills vs. National Median
At $300,710, homes in Palos Hills cost 27% below the national median of $410,000. This makes Palos Hills a relatively affordable market for buyers seeking value.
Affordability
What Does It Cost to Buy in Palos Hills?
20% Down Payment
$60,142
on $300,710
Monthly P&I
$1,568/mo
30-yr @ 6.8%
Total Monthly Est.
~$1,991/mo
incl. taxes & insurance
Income Needed
$79,640
gross annual (30% rule)
10% Down Option
$30,071
+ PMI applies
Loan Amount (20% dn)
$240,568
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 Hills, IL?
The median home value in Palos Hills is $300,710 as of mid-2026, according to Zillow's Home Value Index (ZHVI). That's up 4.2% year-over-year.
How much have home prices changed in Palos Hills?
Over the past year, home values in Palos Hills have increased by 4.2%. Over five years, prices have risen approximately 23.6%.
How much do I need to earn to buy a home in Palos Hills?
To comfortably afford the median home price of $300,710 with a 20% down payment ($60,142) at today's rates (6.8%), you'd need a gross annual income of approximately $79,640. This assumes keeping total housing costs at or below 30% of gross income.
How does Palos Hills compare to the national average home price?
The national median home value is approximately $410,000. At $300,710, homes in Palos Hills are 27% below the national average.
What metro area is Palos Hills part of?
Palos Hills is part of the Chicago-Naperville-Elgin, IL-IN-WI metropolitan area. Home prices and market conditions can vary across the broader metro region.