Joliet, IL—60432
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Joliet, IL
As of Oct '25, the median home price in Joliet, IL is $197,000, with a year-over-year change of -3.4%. This indicates that home prices in Joliet, IL are decreasing. According to Zillow, the 1-year price projection is -0.6%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $197,000 | -3.4% |
| Single Family | $196,000 | -4.4% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $178,000 | 2.9% |
3 Bed | $226,000 | 2.3% |
4 Bed | $276,000 | 2.2% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Joliet, IL
As of July '25, Rentcast reports the average rent in Joliet, IL is $1,570, with a year-over-year rent change of 1.9%. Per bedroom, the median rent as of July '25 in Joliet, IL is 1-bedrooms: $1,140, 2-bedrooms: $1,570, 3-bedrooms: $1,980. The most common rental property sizes in Joliet, IL are 2-bedroom and 3-bedroom, accounting for 45.1% and 36.4% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,200 | $1,570 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,120 | $1,140 |
| 2 Bed Rent | $1,200 | $1,570 |
| 3 Bed Rent | $1,750 | $1,980 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Joliet, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Joliet, IL is 28. This is a increase of 19.0% from last year, suggesting that homes are sitting on the market longer than last year. The percentage of listed homes with a reduced price is 32.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $271,000 | 20.0% |
Listing Count | 31 | -15.0% |
| Listings as % of Homes | 0.4% | -15.0% |
Days on Market | 28 | 19.0% |
Demographics — Joliet, IL
As of the latest ACS Survey released in 2023, Joliet, IL has a population of 20,100, which has remained stable by -0.6% over the past 5 years. Joliet, IL is a popular place for families, as children make up 25.7% of the population. The area has a poorly educated workforce, with 12.9% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 6.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 20,100 | -0.6% |
% Under 18 | 25.7% | -18.2% |
% Seniors | 10.1% | 24.7% |
% WFH | 6.4% | 190.9% |
% w/ College Degree | 12.9% | 27.7% |
As of the latest ACS Survey released in 2023, Joliet, IL is a predominantly hispanic area, with 60.5% of the population identifying as hispanic. The hispanic population has grown by 5.6% in the last 5 years. The second most common race or ethnicity in Joliet, IL is black, making up 21.4% of the population. Foreign-born residents account for 27.6% of the population in Joliet, IL, and this percentage has increased by 2.2% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 17.2% | -17.7% |
% Black | 21.4% | 13.2% |
% Hispanic | 60.5% | 5.6% |
% Asian | 0.2% | -50.0% |
% Foreign Born | 27.6% | 2.2% |
Mortgage and Risk — Joliet, IL
According to HUD data as of 2023, there were 135 mortgage originations in Joliet, IL, of which 81.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 41.0% above 90% LTV (very high). This implies large mortgage risk in Joliet, IL. Investor activity is low, as 6.0% of loans were by investors. 13.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 135 |
% Conventional Loans | 81.0% |
% Government Loans | 19.0% |
% Investor Loans | 6.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 13.0% |
Loan Activity
Rentals and Section 8 — Joliet, IL
Joliet, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 250 |
Total Units Section 8 | 238 |
% Rentals under Section 8 | 8.3% |
% Occupied Section 8 | 80.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $240 | $1,120 | $1,360 |
| 2 Bedroom | $330 | $1,200 | $1,530 |
| 3 Bedroom | $220 | $1,750 | $1,970 |
| 4 Bedroom | N/A | N/A | $2,310 |
Affordability — Joliet, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $197,000 |
| Median Household Income | $64,100 |