Palatine, IL
Population 66,548 · Illinois
About Palatine, IL
Palatine is a mid-sized city located in Illinois with a population of 66,548 residents according to the latest US Census Bureau American Community Survey data. The median household income is $95,950 per year, which is 28% above the national median of $75,149. The median age of 39.6 years is close to the US median age of 38.9 years.
Housing Market Overview
The housing market in Palatine features a median home value of $347,900, which is 42% above the national median of $244,900. This positions Palatine in a moderately priced market relative to the rest of the country. Median monthly rent is $1,467, 26% above the national average of $1,163/month. Of the 28,170 total housing units, 67% are owner-occupied (18,011 units) and 33% are renter-occupied (8,808 units). The high homeownership rate suggests a stable, established residential community.
Economy & Employment
The local economy in Palatine shows an unemployment rate of 4.4%, which is near the national rate of 3.7%. The poverty rate stands at 10.1%, below the national average of 12.4%, reflecting generally favorable economic conditions. Workers in Palatine have an average one-way commute time of 28 minutes.
Education & Demographics
49.8% of Palatine residents aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This significantly higher educational attainment rate often correlates with access to knowledge-economy jobs and higher household incomes. The community's demographic composition includes 16.1% White, 1.5% Hispanic or Latino, 0.9% Black or African American, and 2.1% Asian residents, with 23.9% of the population being foreign-born.
How Palatine Ranks in Illinois
Cost of Living in Palatine, IL
Compared to national averages, Palatine has a median household income of $95,950 (28% above the national median of $75,149). Home values average $347,900, which is 42% above the national median. Monthly rent at $1,467 is 26% above the US average of $1,163. Within Illinois, Palatine's income is 28% above the state average of $75,072, and home values are 110% above the state median of $165,779.
Why Live in Palatine, IL?
Palatine offers a strong local economy with a median household income of $95,950, well above the national average, and a well-educated community where 49.8% of residents hold a bachelor’s degree or higher, and a low poverty rate of 10.1%, better than the national average.
Palatine has a population of 66,548 with a median age of 39.6 years. Compare Palatine with other cities to see how it stacks up, or explore all cities in Illinois.
Similar Cities Near Palatine
Cities in Illinois with a similar population size.
| City | Population | Median Income | Home Value | |
|---|---|---|---|---|
| Skokie | 66,427 | $93,550 | $368,600 | Compare |
| Decatur | 70,368 | $50,809 | $97,300 | Compare |
| Des Plaines | 59,408 | $94,303 | $318,200 | Compare |
| Bolingbrook | 73,813 | $107,552 | $295,500 | Compare |
| Orland Park | 57,961 | $98,979 | $349,400 | Compare |
| Oak Lawn | 57,098 | $82,493 | $267,900 | Compare |
| Arlington Heights | 76,220 | $118,532 | $403,200 | Compare |
| Evanston | 76,552 | $95,766 | $472,300 | Compare |
Demographics
Racial & Ethnic Composition
Economy & Education
Housing
Other Cities in Illinois
Data source: US Census Bureau ACS 5-Year Estimates. Last updated: 2026-04-05.
Compare Palatine With Other Cities
Frequently Asked Questions about Palatine
What is the population of Palatine, IL?
The population of Palatine, IL is 66,548 according to the latest US Census Bureau American Community Survey estimates. This makes it a mid-sized city in Illinois.
What is the median household income in Palatine?
The median household income in Palatine, IL is $95,950 per year, which is 28% above the national median of $75,149.
What is the median home value in Palatine?
The median home value in Palatine, IL is $347,900, which is 42% above the national median of $244,900. The majority of housing units are owner-occupied.
What is the average rent in Palatine?
The median monthly rent in Palatine, IL is $1,467, which is 26% above the national average of $1,163/month.
What is the unemployment rate in Palatine?
The unemployment rate in Palatine, IL is 4.4%, compared to the national average of 3.7%. Job seekers may want to research the dominant industries in the area.
Is Palatine, IL a good place to live?
Palatine offers above-average incomes, a competitive housing market, and growing employment opportunities. With a population of 66,548 and a median age of 39.6, the city appeals to a broad range of residents.
How educated is Palatine, IL?
49.8% of residents in Palatine aged 25 and older hold a bachelor's degree or higher, compared to the national average of 33.7%. This above-average educational attainment often reflects a knowledge-based local economy.
What is the cost of living in Palatine?
Key cost-of-living indicators for Palatine, IL: median home value is $347,900 (42% above national), median rent is $1,467/month, and median household income is $95,950. The home-value-to-income ratio is 3.6x, a moderate figure by national standards.
What is the poverty rate in Palatine?
The poverty rate in Palatine, IL is 10.1%, compared to the national average of 12.4%. This below-average poverty rate reflects generally favorable economic conditions in the community.
How diverse is Palatine, IL?
Palatine's population is 16.1% White, 1.5% Hispanic or Latino, 0.9% Black or African American, 2.1% Asian, and 5.3% two or more races. 23.9% of residents are foreign-born.