Communities with a large segment of senior citizens or high median incomes tend to have the highest percentage mortgage-free homes, according to Crain’s Chicago Business.
According to the Crain's analysis of 4,784 Palos Heights homeowners, 51.2 percent are mortgage-free. That compares to 38.2 percent paid-off homes in Palos Park and 36.2 in Palos Hills.
These numbers are all higher than the Chicagoland average of 26 percent of homeowners being mortgage-free.
If you own a home, are you still paying off your mortgage? When will you be mortgage-free?