Palos Hills, IL
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA




Highest
Lowest

Highest Appreciating Palos Hills Neighborhoods Since 2000




Palos Hills, IL Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q1 2017. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2015 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Palos Hills Housing Market Information

With 17,565 people, 6,896 houses or apartments, and a median cost of homes of $223,755, Palos Hills real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Palos Hills, accounting for 43.44% of the city's housing units. Other types of housing that are prevalent in Palos Hills include large apartment complexes or high rise apartments ( 34.69%), row houses and other attached homes ( 13.83%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 7.97%).

Dwellings in Palos Hills tend to be quite small (one, two, or no bedrooms) and owner occupied. In fact, 48.98% of the homes in Palos Hills have two or fewer bedrooms.

There is a lot of housing in Palos Hills built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Palos Hills built between 1940-1969 ( 19.62%). A lesser amount of the housing stock also hails from between 2000 and later ( 7.27%). There's also some housing in Palos Hills built before 1939 ( 1.05%).

Palos Hills Home Appreciation Rates

Homes have actually lost value in Palos Hills over the last then years, as home values have seen a decline of 20.72% during the ten year period. In the latest quarter, NeighborhoodScout appreciation rate data shows Palos Hills home appreciation rates at 0.43%, which equates to an annual appreciation rate of 1.74%.

Appreciation rates are so strong in Palos Hills that despite a nationwide downturn in the housing market, Palos Hills real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Palos Hills appreciation rates continue to be some of the highest in America, at 5.74%, which is higher than appreciation rates in 71.82% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Palos Hills. Palos Hills appreciation rates in the latest quarter were at 0.43%, which equates to an annual appreciation rate of 1.74%.

Relative to Illinois, our data show that Palos Hills's latest annual appreciation rate is higher than 90% of the other cities and towns in Illinois.

Average Home Values

 

Median Home Value:
$223,755

Palos Hills, IL HOME PRICES

Value Range
> $1,139,000 0.3
$854,001 - $1,139,000 0.0
$569,001 - $854,000 0.7
$456,001 - $569,000 5.8
$342,001 - $456,000 9.3
$228,001 - $342,000 32.9
$114,001 - $228,000 37.1
$57,001 - $114,000 10.2
$0 - $57,000 3.7

Very High for IL
High for Nation

Value Relative to Nation Value Relative to State
27.0039845306457 20.0

Number Of Homes And Apartments:
6,896

Palos Hills Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2016 Q4 - 2017 Q1
Last 12 Months:
2016 Q1 - 2017 Q1
Last 2 Years:
2015 Q1 - 2017 Q1
Last 5 Years:
2012 Q1 - 2017 Q1
Last 10 Years:
2007 Q1 - 2017 Q1
Since 2000:
2000 Q1 - 2017 Q1
24.76% 1.29% 5 3
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$1,803 / per month

Homeownership Rate

Homeownership
Owners 77.84
Renters 22.16
Vacant 3.27

Housing Market Details

 

Age of Homes

AGE OF Palos Hills HOMES
2000 or Newer 7.3
1970 - 1999 72.1
1940 - 1969 19.6
1939 or Older 1.1

Types of Homes

TYPE OF Palos Hills HOMES
Single-Family 43.4
Townhomes 13.8
Small Apt. Buildings 8.0
Apt. Complexes 34.7
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Palos Hills HOMES
No Bedroom 0.59
1 Bedroom 6.58
2 Bedrooms 41.82
3 Bedrooms 36.95
4 Bedrooms 10.93
5 or more bedrooms 3.14