Why Live in Palmwood
Palmwood, a neighborhood in Rockford, Illinois, is gaining attention from those looking to move away from Chicago due to rising property taxes. Located three miles east of downtown Rockford, Palmwood offers easy access to the Rock River and local attractions. The neighborhood features predominantly ranch-style and Cape Cod houses from the 1950s and 60s, with some homes dating back to the 1920s. These homes typically sit on quarter-acre lots. Palmwood is considered safer than the national average, with a low crime risk. Highland Park, within the neighborhood, includes tennis courts, a baseball diamond, and a playground, and hosts the Time2Play program for kids during the summer. Nearby attractions include the Anderson Japanese Gardens, which hosts a summer concert series, and the Nicholas Conservatory and Gardens, known for its food truck rallies. Dining options like Johnny Pamcakes and Laymon’s BBQ, along with Rivera’s Fresh Market, are within a mile. For groceries, residents can visit Schnucks in the Rockford Plaza Shopping Center. The neighborhood is served by Rockford Christian School, a highly rated private school. Palmwood is car-dependent, with some public transportation available on State Street. The Chicago/Rockford International Airport is an 8-mile drive, while O’Hare International Airport is 70 miles away, accessible via Interstate 90.
Frequently Asked Questions
Is Palmwood a good place to live?
Palmwood is a good place to live. Palmwood is considered car-dependent and somewhat bikeable. Palmwood is a suburban neighborhood with a crime score of 4, on par with the average neighborhood in the U.S. Palmwood has 12 parks for recreational activities. It is somewhat dense in population with 6.4 people per acre and a median age of 40. The average household income is $81,976 which is below the national average. College graduates make up 34.5% of residents. A majority of residents in Palmwood are home owners, with 19.6% of residents renting and 80.4% of residents owning their home. A
local real estate agent serving Palmwood can help you decide if this neighborhood is the right one for you. Learn more on our
Palmwood neighborhood guide.
Is Palmwood, IL a safe neighborhood?
Palmwood, IL is a safe neighborhood and is on par with the average neighborhood in the United States. It received a crime score of 4 out of 10.
How much do you need to make to afford a house in Palmwood?
The median home price in Palmwood is $420,000. If you put a 20% down payment of $84,000 and had a 30-year fixed mortgage with an interest rate of 6.74%, your estimated principal and interest payment would be $2,180 a month plus property taxes, HOA fees, home insurance, PMI, and utilities. Using the 28% rule, you would need to make at least $93K a year to afford the median home price in Palmwood. The average household income in Palmwood is $82K.
What are the best public schools in Palmwood?
The best public schools that serve Palmwood are:
What are the best private schools in Palmwood?
The best private schools that serve Palmwood are:
What are the most popular zip codes in Palmwood, Rockford, IL?
What are the most popular neighborhoods near Palmwood, Rockford, IL?
Home Trends in Palmwood, IL
On average, homes in Palmwood, Rockford sell after 16 days on the market compared to the national average of 70 days. The median sale price for homes in Palmwood, Rockford over the last 12 months is $420,000, up 25% from the median home sale price over the previous 12 months.
Median Sale Price
$420,000
Median Single Family Sale Price
$281,000
Median Townhouse Sale Price
$530,000
Average Price Per Sq Ft
$215
Number of Homes for Sale
1
Last 12 months Home Sales
34
Median List Price
$420,000
Median Change From 1st List Price
0%
Median Home Sale Price YoY Change
25%