According to statistics, the population in Palatine, IL amounts to 69,099, which shows n/a% compared to the previous year. The median age of the city’s residents is 38. The average household income is $76,633, shifting growth 2% from the past year, and the average property value in Palatine, IL growth 2% to $270,000 throughout the year.
|Number Of Employees||37,859|
|Median Property Value||$270,000|
The average household income in Palatine, IL grew from $75,066 to $76,633 in the past year. This data is an estimate based upon 26,750 households in Palatine, IL . The chart below presents how household income is distributed in Palatine, IL in comparison to the revenue allocation amid households nationally.
According to data from last year, the average property value in Palatine, IL shifted from $265,800 to $270,000 throughout the year. The subsequent graph indicates the share of properties in the given price range in Palatine, IL in comparison to the median property value in the same price segment across the country. According to the data, the greatest share of Palatine, IL properties falls in the '$300,000 to $399,999' range, which is higher than the most significant median property across the country.
One of the most important aspects for property owners is the amount of property taxes. This graph shows distribution of property taxes in Palatine, IL compared to median property taxes around the country. The prevalent amount of property taxes in Palatine, IL equals $3000, which is less than the national average.
|Apartment Size||Aug||vs Last Month|
|Studio for sale||$84,900||+0%|
|1 bed for sale||$165,806||+12.3%|
|2 bed for sale||$226,112||+3.3%|
|3 bed for sale||$348,851||-3.8%|
|4+ bed for sale||$450,904||-11.2%|
During Aug 2022, the average price for an apartment in/near Palatine, IL increased by 6.3% to $344,195.
After collecting all data points, we now see that the average price for 1-bed apartment increased by 12.3% to $165,806. Asking price for 2-bed apartment also increased by 3.3% and a place of this size will now cost you $226,112. A 3-bed apartment goes for $348,851, it decreased by 3.8% lately. We discerned the rise of 4- and more bed apartment pricing. It decreased by 11.2% and made it down to $450,904.
|Listing Type||Aug||vs Last Month|
|Houses for sale||$408,957||+9.9%|
|Condos for sale||$227,042||+29.3%|
|Land for sale||$211,712||-4.5%|
|Townhouses for sale||$301,954||-1.2%|
|Lofts for sale||$221,750||-26.1%|
Price reports demonstrate that house price increased by 9.9% this month making it up to $408,957. Condos are really in demand in this season. The median price for a condo increased by 29.3%, it’s now available for $227,042. The price dynamics of lofts changed, it decreased by 26.1%, the price tag now starts at $221,750. The property value of townhouses decreased by 1.2%, you’ll have to spend around $301,954 to get one.