Cost of Living in Palatine, IL
Population: 66,548 • 2026 Data
$95,950
Median Household Income
+24% vs national
$1,467
Median Monthly Rent
+9% vs national
$347,900
Median Home Value
+3% vs national
4.4%
Unemployment Rate
Housing in Palatine
The median home value in Palatine, IL is $347,900. Monthly rent for a typical unit averages $1,467, while total monthly housing costs (including utilities and insurance) average $1,634.
Rent-to-income ratio: 18.3%. This is within the recommended 30% threshold, suggesting housing is relatively affordable for median-income earners.
Income and Employment
The median household income in Palatine, IL is $95,950. The unemployment rate stands at 4.4%, with a labor force of 38,547 people.
Data Sources
All data from the US Census Bureau American Community Survey 5-Year Estimates. National median figures used for comparison context.