Palos Park, IL Profile: Facts & Data

Palos Park, Illinois - Basic Facts

The Village of Palos Park had a population of 4,762 as of July 1, 2024.

The primary coordinate point for Palos Park is located at latitude 41.6673 and longitude -87.8303 in Cook County. The formal boundaries for the Village of Palos Park encompass a land area of 3.93 sq. miles and a water area of 0.04 sq. miles. Cook County is in the Central time zone (GMT -6).

The Village of Palos Park has a C1 Census Class Code which indicates an active incorporated place that does not serve as a county subdivision equivalent. It also has a Functional Status Code of "A" which identifies an active government providing primary general-purpose functions.

The Village of Palos Park is located within Township of Palos, a minor civil division (MCD) of Cook County.

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Palos Park, IL Data & Demographics (As of July 1, 2024)

POPULATION
Total Population	4,762 (100%)
Population in Households	4,517 (94.9%)
Population in Families	3,831 (80.4%)
Population in Group Quarters¹	245 ( 5.1%)
Population Density	738
Diversity Index²	37


INCOME
Median Household Income	$117,944
Average Household Income	$165,970
% of Income for Mortgage⁴	23%
Per Capita Income	$65,104
Wealth Index⁵	207
Socioeconomic Status Index⁶	Moderate (62.5)

HOUSING
Total HU (Housing Units)	2,015 (100%)
Owner Occupied HU	1,768 (87.7%)
Renter Occupied HU	97 ( 4.8%)
Vacant Housing Units	150 ( 7.4%)
Median Home Value	$431,889
Average Home Value	$515,173
Housing Affordability Index³	95

HOUSEHOLDS
Total Households	1,865
Average Household Size	2.42
Family Households	1,305
Average Family Size	3.00

HOUSING

Total HU (Housing Units)

2,015 (100%)

Owner Occupied HU

1,768 (87.7%)

Renter Occupied HU

97 ( 4.8%)

Vacant Housing Units

150 ( 7.4%)

Median Home Value

$431,889

Average Home Value

$515,173

Housing Affordability Index³

HOUSEHOLDS

Total Households

1,865

Average Household Size

2.42

Family Households

1,305

Average Family Size

3.00

NOTES

Group Quarters - a place where people live or stay in a group living arrangement. Includes college residents halls, nursing facilities, military barracks, and correctional facilities.
The Diversity Index is a scale of 0 to 100 that represents the likelihood that two persons, chosen at random from the same area, belong to different races or ethnic groups. If an area's entire population belongs to one race AND one ethnic group, then the area has zero diversity. An area's diversity index increases to 100 when the population is evenly divided into two or more race/ethnic groups.
The Housing Affordability Index base is 100 and represents a balance point where a resident with a median household income can normally qualify to purchase a median price home. Values above 100 indicate increased affordability, while values below 100 indicate decreased affordability.
The % of Income for Mortgage quantifies the percentage of median household income dedicated to mortgage payments on a home priced at the median value (assuming a 30-year mortgage and a 20% down payment).
The Wealth Index is based on a number of indicators of affluence including average household income and average net worth, but it also includes the value of material possessions and resources. It represents the wealth of the area relative to the national level. Values above or below 100 represent above-average wealth or below-average wealth compared to the national level.
The Socioeconomic Index ranges from zero (lowest relative status) to 100 (highest relative status). This measure quantifies disparities in social position of an area's inhabitants and is built from a broad range of demographic, housing, and socioeconomic inputs. More information on this measure can be found in Esri's SEI tutorial.

GROWTH RATE / YEAR	2020-2024	2024-2029
Population	-0.67%	-0.68%
Households	-0.44%	-0.13%
Families		-0.06%
Median Household Income		1.70%
Per Capita Income		2.99%
Owner Occupied HU		-0.10%

GROWTH RATE / YEAR

2020-2024

2024-2029

Population

-0.67%

-0.68%

Households

-0.44%

-0.13%

Families

-0.06%

Median Household Income

1.70%

Per Capita Income

2.99%

Owner Occupied HU

-0.10%

Palos Park, IL - Peer Comparisons by Rank and Percentile

The table below compares Palos Park to the other 1,462 incorporated cities, towns and CDPs in Illinois by rank and percentile using July 1, 2024 data. The location Ranked # 1 has the highest value. A location that ranks higher than 75% of its peers would be in the 75th percentile of the peer group.

Variable Description	Rank	Percentile
Total Population	# 340	77th
Population Density	# 883	40th
Median Household Income	# 104	93rd
Housing Affordability Index	# 309	21st
Per Capita Income	# 67	95th
Diversity Index	# 419	71st

Variable Description

Rank

Percentile

Total Population

# 340

77th

Population Density

# 883

40th

Median Household Income

# 104

93rd

Housing Affordability Index

# 309

21st

Per Capita Income

# 67

95th

Diversity Index

# 419

71st

Illinois Census Data Comparison Tool

Palos Park, IL Profile: Facts & Data

Palos Park, Illinois - Basic Facts

Palos Park, IL Data & Demographics (As of July 1, 2024)

POPULATION

INCOME

HOUSING

HOUSEHOLDS

GROWTH RATE / YEAR

Palos Park, IL - Peer Comparisons by Rank and Percentile

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