60074, Palatine, IL

The 60074 zip code of Palatine, IL has a median home value of $269,000. This is higher than the Illinois median home value of $217,500. The 60074 zip code also has a lower than average percentage of homeowners with mortgages at 54%. This indicates that most homeowners in this zip code are able to borrow against their homes equity.

The average home price in the 60074 zip code increased by 5% from 2017 to 2018. Over the past five years, the average home price has increased by 17%. This increase is likely due to increasing demand for homes in Palatine and surrounding areas. In addition, there have been no major changes in zoning laws or regulations that could affect home prices.

While there is an increase in home prices, it's important to keep in mind that not all areas within the 60074 zip code have experienced this same growth. For example, the area around O'Hare airport has seen slower growth rates due to stricter zoning laws and limited availability of land for development.