Cost of Living in Palatine, IL
Population 66,293 · Census ACS 2020–2024 5-year estimates
The median rent in Palatine, IL is $1,549/month, 22% higher than the Illinois median and 10% higher than the U.S. median. The median home value is $355,600, 7% higher than the national median. Households earn a median of $97,819 a year, 17% higher than the state median.
Affordability
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Palatine vs. Illinois vs. U.S.
| Palatine | Illinois | U.S. | |
|---|---|---|---|
| Median rent | $1,549 | $1,274 | $1,413 |
| Median home value | $355,600 | $263,300 | $332,700 |
| Median household income | $97,819 | $83,390 | $80,734 |
| Homeownership rate | 67.4% | 67.1% | 65.2% |
| Bachelor's degree or higher | 51.1% | 37.8% | 35.7% |
| Poverty rate | 8.2% | 11.8% | 12.5% |
| Unemployment rate | 4.1% | 5.8% | 5.2% |
| Work from home | 20.6% | 15.9% | 15.1% |
| Median age | 40.7 | 39.0 | 38.9 |
FAQ
What is the average rent in Palatine, IL?
The median gross rent in Palatine, IL is $1,549 per month (ACS 2020–2024 5-year estimate).
How much do I need to earn to live in Palatine, IL?
Using the common 30% rule, renting a median-priced home takes about $61,960 a year in gross income.
Is Palatine, IL expensive to live in?
Rent there is 10% higher than the U.S. median, and the median home costs about 3.6 times the median household income.
Other cities in Illinois
Cities with a similar cost of living
Source: U.S. Census Bureau, American Community Survey 5-year estimates. Estimates have margins of error, especially for smaller places. This product uses the Census Bureau Data API but is not endorsed or certified by the Census Bureau.
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