New Listing
26
$249,900
854 E Carriage Ln Unit 8
Palatine, IL 60074
3 bd2 ba1,300 sqft$192/ft²
Condo
Lori Christensen · N. W. Village Realty, Inc.
View photos & details
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Palatine, IL Housing Market
Seller's market+6.7% YoY
Zillow, August 2026 · Refreshes monthlyRedfin, through May 2026 · No longer updatingFreddie Mac via FRED, September 2026 · Refreshes weekly
The typical home in Palatine, IL is worth $393,104, rose 6.7% over the past year (Zillow Home Value Index, August 2026). The last median sale price Redfin published was $411,500, +7.7% year over year (through May 2026). With 2.1 months of supply and homes going under contract in about 38 days, Palatine is a seller's market. At today's 7.03% 30-year fixed rate, 20% down on a $393,104 home is about $2,099/mo in principal and interest.
Key numbers for Palatine, IL
Typical home value
$393,104
+6.7% in 12 months
Zillow, August 2026
Typical asking rent
$1,953/mo
Zillow Observed Rent Index
Zillow, August 2026
Median sale price
$411,500
+7.7% year over year
Redfin, through May 2026
Days on market
38
Average pace
Redfin, through May 2026
Active listings
174
2.1 months of supply
Redfin, through May 2026
30-yr fixed rate
7.03%
Freddie Mac weekly average
Freddie Mac via FRED, September 2026
Median household income
$95,950
Home costs 4.1x income
U.S. Census ACS, 2023
Sale-to-list ratio
101.4%
Selling above asking
Redfin, through May 2026
Zillow figures are as of August 2026 and refresh monthly. Redfin figures are through May 2026 — Redfin stopped publishing its public market trackers in June 2026, so those numbers are final, not current. Mortgage rates come from Freddie Mac via FRED and update weekly.
Is Palatine a buyer's or seller's market?
Seller's market2.1 months of supply38 days on market101.4% of asking
Palatine, IL is a seller's market, based on 2.1 months of supply and homes selling in about 38 days. Under 4 months of supply tilts the market toward sellers: homes clear faster than they are replaced, so concessions are scarce.
Inputs are Redfin's final published period (May 2026). How we classify markets · Where the data comes from
What does the Palatine housing market data show?
Every row below is Redfin's final published month for Palatine, IL. Redfin, through May 2026
| Metric | Value |
|---|---|
| Median sale price | $411,500 |
| Median list price | $429,000 |
| Year-over-year price change | +7.7% |
| Median price per sq ft | $235/sq ft |
| Median days on market | 38 days |
| Active inventory | 174 listings |
| Months of supply | 2.1 months |
| Sale-to-list price ratio | 101.4% |
| Homes sold (that month) | 84 |
| New listings (that month) | 103 |
| Listings with a price cut | 13.2% |
| Market condition | Seller's market |
How to read these numbers
- Median sale price
- Half the homes that closed sold for more than this, half for less. It moves with what kind of home sold that month, so a quiet month with two big sales can swing it. Redfin's figure for Palatine is frozen at May 2026.
- Typical home value (ZHVI)
- Zillow's estimate of what a mid-market home in Palatine is worth right now, whether or not it sold. It is smoother than the median sale price and it still refreshes monthly, which is why this page leads with it.
- Months of supply
- How long it would take to sell every active listing at the current pace. Under 3 favors sellers, over 6 favors buyers, and 3 to 6 is the balanced band.
- Days on market
- Median time from listing to accepted offer. Short means you should have financing ready before you tour; long means there is room to negotiate on price and repairs.
- Sale-to-list ratio
- Sale price divided by the last asking price. Above 100% means bidding above asking is normal here; below 100% means the typical buyer got a discount.
- Price per square foot
- The size-adjusted price. Use it to compare a 1,400 sq ft house to a 2,600 sq ft house, not to value your own home — lot, condition and age move it a lot.
- Listings with a price cut
- Share of active listings that dropped their asking price in the month. A high share is the earliest visible sign that sellers are ahead of what buyers will pay.
- Typical asking rent (ZORI)
- Zillow's repeat-rent index for asking rents on new leases. Paired with the home value it gives the price-to-rent ratio in the rent-vs-buy section below.
How have Palatine home prices moved?
Over the last three years the median sale price in Palatine, IL rose 21.9%, from $337,500 to $411,500. The live Zillow value series has rose 6.7% in the last 12 months, which is the more current read now that Redfin's series has stopped. 13.2% of Palatine listings cut their asking price in the final Redfin month — a modest share, which is what a market looks like when sellers are pricing close to where homes actually clear. For prices to fall meaningfully from here, supply would have to keep building past 2.1 months while the sale-to-list ratio slips below its current 101.4%. Watch those two together — they move before the median does.
Redfin, through May 2026 — the chart ends at Redfin's final published month.
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What does it cost to buy a home in Palatine?
Priced off the typical home value of $393,104 at the current 7.03% 30-year fixed rate. These are principal and interest only — property taxes, homeowner's insurance, HOA dues and mortgage insurance are on top, and they vary enough by property that we will not guess them for you.
| Down payment | Cash at close | Loan amount | Monthly P&I |
|---|---|---|---|
| 20% | $78,621 | $314,483 | $2,099/mo |
| 5% | $19,655 | $373,449 | $2,492/mo |
Zillow, August 2026 for the price · Freddie Mac via FRED, September 2026 for the rate
What income do you need?
Lenders generally want housing costs under 28% of gross income. On the 20%-down payment of $2,099, that implies roughly $89,940 a year before you add taxes and insurance. The median household in Palatine earns $95,950, about $6,010 more than that threshold — the typical local household clears the payment on a typical local home with 20% down. That puts the price-to-income ratio at 4.1x — above the historical 3x norm but in line with much of the country in 2026.
Run it with your own numbers: affordability calculator · mortgage calculator
Buying in Palatine in the next 12 months?
Tell us your timeline. We send the Palatine market brief: the price ranges that actually clear, how long homes sit, and what to fix on your credit before you apply.
Is it cheaper to rent or buy in Palatine?
Typical asking rent in Palatine, IL is $1,953/mo, against a typical home value of $393,104. That is a price-to-rent ratio of 16.8x, which means buying and renting land close enough together that the decision turns on how long you stay and your down payment. Compared head to head, 20% down puts principal and interest at $2,099 a month — $145 more than renting before taxes and insurance, so the ownership case here rests on equity and appreciation rather than monthly cash flow.
Zillow, August 2026 for both value and rent
Add your own down payment, tax rate and time horizon in the rent vs. buy calculator.
Is inventory rising or falling in Palatine?
Active listings in Palatine, IL went from 195 in May 2025 to 174 in May 2026, a -10.8% change. Falling inventory tightens competition. When supply drops while demand holds, sale-to-list ratios rise before the median sale price does.
| Month | Active listings | New listings |
|---|---|---|
| June 2025 | 203 | 120 |
| July 2025 | 193 | 95 |
| August 2025 | 182 | 97 |
| September 2025 | 177 | 75 |
| October 2025 | 173 | 80 |
| November 2025 | 158 | 56 |
| December 2025 | 120 | 30 |
| January 2026 | 121 | 53 |
| February 2026 | 128 | 65 |
| March 2026 | 149 | 95 |
| April 2026 | 166 | 111 |
| May 2026 | 174 | 103 |
Redfin, through May 2026
How does Palatine compare to Illinois and the U.S.?
Palatine homes sell for $411,500 — 22% above the Illinois median of $337,900. Against the national median of $410,700, Palatine runs 0% higher. Year-over-year, Palatine moved +7.7% against Illinois's +5.9% — a bigger swing than the state as a whole.
| Market | Median sale price | YoY | Days on market |
|---|---|---|---|
| Palatine, IL | $411,500 | +7.7% | 38 days |
| Illinois statewide | $337,900 | +5.9% | 43 days |
| United States | $410,700 | not published | not published |
City and state rows: Redfin, through May 2026 · U.S. row: Freddie Mac via FRED, April 2026 (MSPUS, quarterly)
What to do next in Palatine
What buyers should watch
- Months of supply, currently 2.1. It turns before price does — when it climbs past 6, sellers start taking offers they would have rejected a quarter earlier.
- The share of listings cutting price, currently 13.2%. A listing that has already cut once is the one most likely to accept below asking.
- The gap between 5% and 20% down here is $393 a month in principal and interest alone, before mortgage insurance. That gap, not the price, is usually what decides your timeline.
- Rate moves. At 7.03%, every full point of rate change moves the payment on a $393,104 home more than a 5% price change does.
- Your credit tier before you shop, not after — it sets the rate you are quoted. Run your numbers first.
What sellers should know
- The median Palatine listing goes under contract in 38 days. If yours passes that mark, the market is telling you the price is wrong — not that you need more showings.
- Homes here close at 101.4% of asking. Price at the number you want and let competition do the rest.
- In the last published month Palatine added 103 new listings against 84 sales — more competition arriving than clearing, so early timing matters.
- Your equity moved +6.7% in the last 12 months on the Zillow value series. That, not the price you paid, is what sets your net proceeds.
- Comparable ZIP-level pricing inside Palatine varies more than the citywide median suggests — check the ZIP pages below before you set a number.
Homes for sale in Palatine
There are currently 174 homes listed for sale in Palatine, Illinois. The median listing price is $429K. Featured listings range from $249,900 to $700,000.
New Listing
34
$268,900
823 E Coach Rd Unit 8
Palatine, IL 60074
3 bd2 ba1,100 sqft$244/ft²
Condo
Yasir Malik · Kairos Brokerage LLC
View photos & details
New Listing
4
$269,000
1215 N Williams Dr Unit 1
Palatine, IL 60074
2 bd2 ba1,200 sqft$224/ft²
Condo
Andrew Oh · iProperties
View photos & details
New Listing
17
$279,900
1390 N Knollwood Dr Unit 1390
Palatine, IL 60067
2 bd2 ba1,155 sqft$242/ft²
Townhouse
Leopoldo Saucedo · Urbanitas Inc.
View photos & details
New Listing
32
$280,000
1375 N Whispering Springs Cir
Palatine, IL 60074
3 bd1 ba1,300 sqft$215/ft²
Townhouse
Peter Petrov · Real People Realty
View photos & details
New Listing
39
$293,900
945 E Kenilworth Ave Unit 312
Palatine, IL 60074
2 bd2 ba1,300 sqft$226/ft²
Condo
Joseph Lynn · Grapevine Realty, Inc.
View photos & details
New Listing
$350,000
316 N Schiller St
Palatine, IL 60067
2 bd1 ba884 sqft$396/ft²
House
Jill Little · Suburban Life Realty, Ltd
View photos & details
New Listing
$409,900
648 E Lincoln St
Palatine, IL 60074
4 bd2 ba1,532 sqft$268/ft²
House
Albert Mendez · Coldwell Banker Realty
View photos & details
New Listing
20
$425,000
659 N Walden Dr
Palatine, IL 60067
3 bd3 ba1,892 sqft$225/ft²
Townhouse
Susan Brill · Baird & Warner
View photos & details
New Listing
27
$435,000
330 S Oak St
Palatine, IL 60067
3 bd2 ba2,013 sqft$216/ft²
House9,888 sqft lot
Cynthia Lang · Century 21 Integra
View photos & details
New Listing
53
$450,000
580 N Quentin Rd
Palatine, IL 60067
3 bd2 ba1,821 sqft$247/ft²
House32,670 sqft lot
Daniel Hoeft · HomeSmart Connect LLC
View photos & details
New Listing
42
$700,000
685 E Thornhill Ln
Palatine, IL 60074
5 bd4 ba3,056 sqft$229/ft²
House
Nevin Nelson · Redfin Corporation
View photos & details
Looking to buy in Palatine?
Get connected with a local real estate expert — free, no obligation.
Active listings
174
Homes on market
Median list price
$429K
Avg. days on market
38
Days until sale
New this week
103
Newly listed
Price drops:13.2%of listings
Sale-to-list:101.4%
How much do homes cost in Palatine by property type?
How the Palatine, IL market breaks down across single-family homes, condos and townhouses. Redfin, through May 2026
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $509,500 | $260/sq ft | 42 | 38 days |
| Condo / co-op | $225,625 | $197/sq ft | 24 | 40 days |
| Townhouse | $400,000 | $242/sq ft | 18 | 36 days |
Who lives in Palatine?
American Community Survey estimates for Palatine. U.S. Census ACS, 2023
Population
66,548
Households
26,819
Median income
$95,950/yr
Median age
39.6 years
Owner-occupied
67.2%
Median home value
$347,900
Median gross rent
$1,467/mo
Mean commute
28 min
67.2% of occupied homes in Palatine are owner-occupied, and the rest are rented — which is the share that decides how much of the local housing stock ever reaches the for-sale market. The Census self-reported median home value is $347,900 against Zillow's $393,104 typical value; the gap is normal — ACS asks owners what they think their home is worth, Zillow models transactions. Census median gross rent (all leases, including long-held ones) is $1,467/mo, below Zillow's $1,953/mo asking rent on new leases — the difference is roughly what a mover pays over a stayer.
Which public schools serve Palatine?
16 schools tracked · 12,310 students
The largest public schools serving Palatine, IL by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Wm Fremd High School
Grades 9-12 · 2,657 students
Palatine High School
Grades 9-12 · 2,562 students
Lake Louise Elem School
Grades PK-6 · 952 students
Lincoln Elementary School
Grades PK-6 · 739 students
Hunting Ridge Elem School
Grades K-6 · 724 students
Virginia Lake Elem School
Grades PK-6 · 665 students
Walter R Sundling Jr High Sch
Grades 7-8 · 614 students
Stuart R Paddock School
Grades PK-6 · 610 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Palatine, IL?
Ordered by distance from Palatine, not by size. Compare Palatine side by side with any of them.
Which ZIP codes are in Palatine?
These are the ZIP codes we see on active Palatine listings. Redfin did not publish a matching ZIP-level sale row for the same period, so we are not ranking them by price here — each ZIP page shows exactly what we hold for it.
Palatine housing market FAQ
Is Palatine a buyer's or seller's market?
Palatine, IL is currently a seller's market. That read comes from 2.1 months of supply, homes going under contract in about 38 days, and sellers getting 101.4% of their asking price in the last month Redfin published (May 2026).
How much do homes cost in Palatine?
The typical home in Palatine, IL is worth $393,104 (Zillow Home Value Index, August 2026). The median sale price in the last month Redfin published was $411,500, about $235 per square foot.
Is Palatine cheaper than the rest of Illinois?
Palatine's median sale price of $411,500 is 22% higher than the Illinois statewide median of $337,900, and 0% above the U.S. median of $410,700. Both figures are for the same period.
How long do homes take to sell in Palatine?
Homes in Palatine, IL spent a median of 38 days on market before going under contract, versus 43 days statewide. That is a normal pace: enough time to see a home twice, not enough to wait a month. (Redfin, through May 2026.)
What income do you need to buy a home in Palatine?
At the current 30-year fixed rate of 7.03%, 20% down on a $393,104 home is about $2,099 a month in principal and interest. Lenders typically want that under 28% of gross income, which works out to roughly $89,940 a year before taxes, insurance, HOA dues or mortgage insurance. The local median household income is $95,950.
Are home prices rising in Palatine?
The typical home value in Palatine, IL rose 6.7% over the last 12 months, from $368,563 to $393,104 (Zillow, August 2026). This is the live series — it refreshes monthly.
What are the cheapest ZIP codes in Palatine?
Palatine ZIP-level sale prices are not all published for the same period, so ranking them would compare different months. The ZIP pages listed on this page show what we hold for each one individually.
Is now a good time to buy in Palatine?
That depends on your timeline, not on a headline. What the data says today: Palatine, IL is a seller's market with 2.1 months of supply, the 30-year fixed rate is 7.03%, and the price-to-rent ratio of 16.8x means buying and renting land close enough together that the decision turns on how long you stay and your down payment. Properties Incorporated publishes the data; it does not give financial advice.
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