Joliet, IL—60433
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 $204,000, with a year-over-year change of 3.6%. This indicates that home prices in Joliet, IL are increasing. According to Zillow, the 1-year price projection is -0.2%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $204,000 | 3.6% |
| Single Family | $205,000 | 2.0% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $176,000 | 4.8% |
3 Bed | $223,000 | 4.7% |
4 Bed | $240,000 | 5.3% |
| 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 $1,820, with a year-over-year rent change of 35.8%. Per bedroom, the median rent as of July '25 in Joliet, IL is studios: $1,030, 1-bedrooms: $895, 2-bedrooms: $1,740, 3-bedrooms: $2,080, 4-bedrooms: $1,780. The most common rental property sizes in Joliet, IL are 2-bedroom and 3-bedroom, accounting for 34.4% and 27.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,800 | $1,820 |
| Studio Rent | $1,030 | $1,030 |
| 1 Bed Rent | $895 | $895 |
| 2 Bed Rent | $1,580 | $1,740 |
| 3 Bed Rent | $2,000 | $2,080 |
| 4 Bed Rent | $1,800 | $1,780 |
% 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 32. This is a decrease of -17.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 15.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $258,000 | 9.0% |
Listing Count | 40 | 8.0% |
| Listings as % of Homes | 0.5% | 8.0% |
Days on Market | 32 | -17.0% |
Demographics — Joliet, IL
As of the latest ACS Survey released in 2023, Joliet, IL has a population of 15,300, which has decreased by -8.0% over the past 5 years. Joliet, IL is a moderately popular place for families, as children make up 20.2% of the population. The area has a poorly educated workforce, with 13.4% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.7% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 15,300 | -8.0% |
% Under 18 | 20.2% | -12.9% |
% Seniors | 16.8% | 15.1% |
% WFH | 5.7% | 159.1% |
% w/ College Degree | 13.4% | 50.6% |
As of the latest ACS Survey released in 2023, Joliet, IL is a predominantly hispanic area, with 46.2% of the population identifying as hispanic. The hispanic population has grown by 33.5% in the last 5 years. The second most common race or ethnicity in Joliet, IL is white, making up 27.3% of the population. Foreign-born residents account for 19.8% of the population in Joliet, IL, and this percentage has increased by 32.0% 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 | 27.3% | -8.1% |
% Black | 23.2% | -29.5% |
% Hispanic | 46.2% | 33.5% |
% Asian | 1.0% | 900.0% |
% Foreign Born | 19.8% | 32.0% |
Mortgage and Risk — Joliet, IL
According to HUD data as of 2023, there were 186 mortgage originations in Joliet, IL, of which 71.0% of loans were conventional mortgages. The average loan-to-value was 72.0%, with 46.0% above 90% LTV (very high). This implies large mortgage risk in Joliet, IL. Investor activity is low, as 3.0% of loans were by investors. 12.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 186 |
% Conventional Loans | 71.0% |
% Government Loans | 29.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 12.0% |
Loan Activity
Rentals and Section 8 — Joliet, IL
As of 2024, the percent of homes in Joliet, IL under the Section 8 program is 12.2%. This is considered low, suggesting that the neighborhood is sparsely composed of Section 8 homes. Section 8 opportunity is good when HUD pays more than market rent. 1-bedroom and 3-bedroom and 4-bedroom units appear to be good home sizes to consider for Section 8 housing in Joliet, IL, because HUD payments exceed market rent, while 2-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 368 |
Total Units Section 8 | 230 |
% Rentals under Section 8 | 12.2% |
% Occupied Section 8 | 87.9% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $495 | $895 | $1,390 |
| 2 Bedroom | -$10 | $1,580 | $1,570 |
| 3 Bedroom | $20 | $2,000 | $2,020 |
| 4 Bedroom | $570 | $1,800 | $2,370 |
Affordability — Joliet, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 2.8 |
| Median Home Price | $204,000 |
| Median Household Income | $61,000 |