Many Palos Homeowners are Mortgage-Free

Crain's Chicago Business reports over half of Palos Heights homes are fully paid off. 38.2 percent of Palos Park and 36.2 percent of Palos Hills homeowners own their homes outright.

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? 

Tim F April 04, 2013 at 01:39 AM
I'm sure I know the mean age of those homeowners and how long they have lived in those homes as well.
Gerald Johnson April 06, 2013 at 04:12 PM


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