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Palestine village, IL

ZIP 62451 — Housing & Real Estate

Source: U.S. Census Bureau ACS 2019–2023 5-Year Estimates. Page data updated 2026-08-02.

Middle ClassLow Snow Area

Home values, rent, tenure, and housing stock

Housing & Real Estate in ZIP Code 62451

Median Home Value
$85,500
Median Rent
$529
Affordability Snapshot
$24,000
Est. income to buy

Household income needed for a median home under a 20% down / 6.8% illustrative mortgage model (~$549/mo PITI).

10%
Rent-to-Income Ratio

Below the 30% threshold — generally affordable for median earners.

1.4x
Home Price-to-Income Ratio

Below 3x — relatively affordable housing market.

13.5 yrs
Price-to-Rent Ratio

Years to break even buying vs renting at median home value and rent.

To comfortably buy a median-priced home in ZIP 62451 in Palestine village, IL, a household would need roughly $24,000 in annual income under a 20% down, 30-year loan at 6.8% (illustrative), keeping housing costs near 28% of income. Estimated monthly PITI is about $549. That sits below the local median household income ($60,991), suggesting the typical household income is closer to a workable buy-in level under these assumptions. Rates, taxes, insurance, and HOA fees vary — treat this as a planning estimate, not a lender quote.

Housing Tenure

Owner-occupied majority; balanced tenure mix.

Heating Fuel
Housing Metrics
Owner Occupied
82.1%+26% vs US avg
x
Vacancy Rate
7.7%-25% vs US avg
x
Broadband Access
91.0%+5% vs US avg
x
4+ Bedrooms
3.6%-75% vs US avg
x
Built Pre-1939
8.1%-37% vs US avg
x
Built Post-2014
0.0%
x
Rent Burden >30%
14.0%-72% vs US avg
x
Mortgage-Free
51.1%+34% vs US avg
x
$85,500
Home Value
$529
Rent
1956
Year Built
2009
Moved In

Residents have lived here since ~2009 on average

Housing Structure

Census ACS structure types (single-family, multi-unit, etc.).

  • 1-unit detached85.1%
  • 1-unit attached0.7%
  • 2-9 units5.0%
  • 10+ units0.2%
  • Mobile home & other9.0%

Housing & Real Estate key statistics

Housing statistics
Housing
Median home value$85,500
Median rent$529
Owner-occupied82.1%
Vacant7.7%
Price-to-income1.4x
Est. income to buy$24,000