Living in Palatine, Illinois
Cost of living, income, home prices, rent and demographics of Palatine · Census data 2020–2024
Palatine has 66,293 residents with a median age of 40.7. The median household income is $97,819 (17% higher than the Illinois median), the median home value is $355,600, the median rent is $1,549/month.
Palatine at a glance
- Population
- 66,293
- Median age
- 40.7State: 39
- Median household income
- $97,819State: $83,390
- Median home value
- $355,600State: $263,300
- Median rent
- $1,549/moState: $1,274
- Homeowners
- 67.4%
- Bachelor's degree or higher
- 51.1%
- Average commute
- 28 min
Is Palatine a good place to live?
Pros: Median household income 17% higher than the Illinois median; an average commute of 28 minutes; unemployment of 4.1%; a poverty rate of 8.2%.
Cons: Home values 35% higher than the state median.
The weather is best in June to September.
Cost of living in Palatine
Housing is the biggest part of the cost of living. In Palatine the median home value is $355,600, 7% higher than the U.S. median. Renters pay a median of $1,549 per month, which is 31.3% of household income. Homeowners with a mortgage pay $2,356 a month in housing costs.
Palatine median household income
The median household income in Palatine is $97,819 and the income per person is $51,147. 8.2% of residents live below the poverty line (Illinois: 11.8%).
Housing in Palatine: homes for sale and rent
- Housing units
- 28,469
- Owner-occupied
- 67.4%
- Renter-occupied
- 32.6%
- Vacant
- 4.1%Includes seasonal homes
- Median year built
- 1977
- Average household size
- 2.42
Palatine demographics
- Population
- 66,293
- Median age
- 40.7
- Under 18
- 20.9%
- 65 and older
- 16.9%
- Households
- 27,303
- Foreign-born
- 24.2%
- Veterans
- 2.6%Adults 18+
Hispanic or Latino can be of any race. Population history of Palatine ›
Education in Palatine
51.1% of adults 25 and older in Palatine have a bachelor's degree or higher (Illinois: 37.8%), and 18.8% have a graduate or professional degree.
Jobs and commute in Palatine
- Unemployment rate
- 4.1%State: 5.8%
- Average commute
- 28 minState: 28 min
- Work from home
- 20.6%
- Drive alone
- 69.4%
- Public transit
- 2.3%
- Walk to work
- 1%
- Homes with broadband
- 95.6%
Palatine vs nearby towns
| Town | Population | Median income | Home value | Rent |
|---|---|---|---|---|
| Palatine | 66,293 | $97,819 | $355,600 | $1,549 |
| Inverness | 7,275 | $207,434 | $715,600 | — |
| Rolling Meadows | 24,027 | $98,514 | $326,200 | $1,607 |
| Arlington Heights | 76,005 | $116,723 | $414,500 | $1,760 |
| Deer Park | 3,711 | $174,458 | $661,300 | $2,754 |
| Kildeer | 4,292 | $250,001 | $770,700 | — |
| Barrington | 11,077 | $147,989 | $582,500 | $1,500 |
| Buffalo Grove | 42,891 | $129,395 | $412,300 | $2,037 |
| Long Grove | 8,305 | $250,001 | $804,600 | $3,501 |
More for people moving to Palatine
Palatine ZIP code ›Weather and climate ›Living in Palatine: FAQ
What is the median household income in Palatine, IL?
The median household income in Palatine is $97,819, 17% higher than the Illinois median of $83,390 (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
What is the average home price in Palatine?
The median home value in Palatine is $355,600, compared with $263,300 in Illinois.
How much is rent in Palatine?
The median gross rent in Palatine is $1,549 per month, about 31.3% of household income.
Is Palatine, IL a good place to live?
Pluses: median household income 17% higher than the Illinois median; an average commute of 28 minutes; unemployment of 4.1%; a poverty rate of 8.2%. Minuses: home values 35% higher than the state median.
What is the median age in Palatine?
The median age in Palatine is 40.7 years (Illinois: 39).
How long is the commute in Palatine?
The average commute to work in Palatine is 28 minutes; 20.6% of workers work from home.
What is the unemployment rate in Palatine?
The unemployment rate in Palatine is 4.1% (U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024).
How educated is Palatine?
51.1% of adults in Palatine have a bachelor's degree or higher.
Source: U.S. Census Bureau, American Community Survey 5-year estimates 2020–2024 (margins of error apply, especially in small towns). Figures are in 2024 dollars.
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