The story of this market
The typical home in ZIP 60464 sells for about $463,100, or $215 per square foot.
Prices are up +3.2% from a year ago, so sellers still have some momentum. Homes take about 42 days to sell. HUD's fair market rent for a two-bedroom is $2,161 a month.
ZIP 60464 — Palos Park
The housing market in 60464 remains stable with high demand for single-family homes, supported by strong household incomes and excellent school ratings. Inventory remains tight, which continues to exert upward pressure on prices despite broader economic headwinds. The market is currently characterized by low turnover and high owner-occupancy rates.
This ZIP is ideal for established families and professionals seeking a quiet, affluent suburban environment with high-quality schools and significant green space.
Median prices moved up 3.2% year over year.
Homes spend a median of 42 days on market with 3.8 months of supply — a fast-moving market.
18% of listings have cut prices · homes sell at 98.5% of asking — demand is running ahead of supply.
no recorded foreclosure-ledger notices (0.0 per 10,000 residents) · unemployment 3.1% · poverty 6.0% — a stable, low-distress profile.
Built from 200 recorded sales in the last 24 months against HUD 3-bedroom fair market rents. The location premium is the part of the price that rent, income, education, employment, vacancy, price trend, hazard, lending and flood risk don't explain. It usually reflects amenities, schools and scarcity. It's area context and does not change this ZIP's home value estimates.
Researched annual trajectory for this ZIP, from published historical series
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.3%/yr trend — a deterministic estimate, not a published forecast or guarantee.
Median annual property tax paid on this ZIP's residential parcels
Solid: researched ten-year history · dotted: 1 / 3 / 5-year projection extended from the historical 3.4%/yr trend — a deterministic estimate, not a published forecast or guarantee.
versus the prior ACS vintage
ZCTA 60464, Cook County IL
Palos Park generally reports low crime rates compared to the broader Cook County region, with property crime being the primary concern.
The area is served by highly-rated public school districts, including Consolidated High School District 230, which consistently performs well on state assessments.
The geography is primarily inland with low flood risk, though standard regional insurance policies cover wind and storm damage common to the Chicago metropolitan area.
Economic momentum is driven by its status as an affluent residential suburb with proximity to major employment hubs in the southwest Chicago suburbs and downtown Chicago.
Composed from the ARED governance burden registry — tier-native tax structure (state + county + city + special districts), never averaged. State (Illinois) — Property Tax Assessment (Fair Cash Value): Property is assessed at 33 1/3% of its fair cash value. The tax bill is calculated by multiplying the equalized assessed value (EAV) by the aggregate tax rate of the local taxing districts.
Residents primarily commute via private vehicle to employment centers in the Chicago Loop or nearby suburban business corridors, with Metra rail access available in neighboring communities.
The area features extensive access to the Cook County Forest Preserves, including trails and nature centers, alongside local parks and proximity to regional golf courses.
The rental market is characterized by low vacancy rates and high demand for single-family home rentals, with limited multi-family inventory available.
The local economy is supported by professional services, healthcare, and retail sectors, with many residents commuting to the broader Chicago metropolitan area.
The area is served by major arterial roads connecting to I-294 and I-55, providing access to the regional highway network.
Development is largely constrained by existing forest preserve boundaries, focusing on high-end residential infill and small-scale commercial improvements.
Cook County utilizes a triennial reassessment cycle for property valuations, with assessments managed by the Cook County Assessor's Office.
Parcels are subject to various special districts including school, library, and forest preserve districts, which are reflected in the annual tax bill.
Property insurance premiums are stable, though homeowners should account for regional risks related to severe weather events.
Data retrieved from US Census Bureau ZCTA-level tables.
Public schools whose reported address is in this area (NCES). Not attendance boundaries — schools that serve residents may sit outside it. Check the district's address locator for assignment.
Extensive network of trails and natural areas serving the region.
Renowned public golf facility located nearby.
Key-figure check: median price corroborated by the published ten-year series (2024) (within 12.5%).