Home Insurance in Palos Park, Illinois
Homes in Palos Park carry a median value of $464,700 - 43% higher than the Cook County median.
The typical home in Palos Park was built around 1976. About 36% of homes were built before 1960, about 12 points below Cook County's 49%. Aging wiring, roofing and plumbing in older homes can push up the cost to insure or rebuild them.
The housing stock in Palos Park is 85% single-family homes and 6% apartments in buildings with 5+ units.
In Palos Park, about 50% of owner-occupied homes have a mortgage - lenders require hazard insurance on every mortgaged home.
The vacancy rate is 7%; vacant or unoccupied homes typically need a different coverage form than an owner-occupied policy. About 90% of occupied homes in Palos Park are owner-occupied.
In Palos Park, 86% of homes are primarily heated with natural gas.
FEMA rates Cook County's overall risk as Very High, led by winter weather (Very High). Cook County had 11,554 active NFIP flood policies as of September 2026. See the full Cook County home insurance overview for all FEMA hazard ratings and flood coverage details.
According to the NAIC homeowners insurance report (2023 data), a standard HO-3 homeowners policy in Illinois carries a statewide average premium of $1,480 per year.
Key figures
| Median home value | $464,700 |
|---|---|
| Median year built | 1976 |
| Owner-occupied share | 90% |
| Share of owner-occupied homes with a mortgage | 50% |
| Top county hazard | Winter Weather (Very High) |
| Active NFIP policies in Cook County | 11,554 |
| Home insurance premium | $1,480 - statewide average (NAIC, 2023 data) |
Nearby towns
Sources
Data last updated: 2026-09-29
- U.S. Census Bureau Gazetteer Files (2024)
- U.S. Census Bureau, American Community Survey 2020-2024 5-Year Estimates (2024)
- FEMA National Risk Index (December 2025)
- FEMA OpenFEMA NFIP Redacted Policies v3 (2026)
- NAIC Dwelling Fire, Homeowners Owner-Occupied, and Homeowners Tenant and Condominium/Cooperative Unit Owners Insurance: Data for 2023 (published 2026) (2023)