Joliet, IL—60435
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 $265,000, with a year-over-year change of 3.2%. This indicates that home prices in Joliet, IL are increasing. According to Zillow, the 1-year price projection is 0.4%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $265,000 | 3.2% |
| Single Family | $268,000 | 2.7% |
| Condos | $199,000 | 4.2% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $221,000 | 4.2% |
3 Bed | $278,000 | 3.7% |
4 Bed | $325,000 | 3.2% |
| 5 Bed | $321,000 | 2.6% |
% of Housing Stock
Rental Trends — Joliet, IL
As of July '25, Rentcast reports the average rent in Joliet, IL is $1,790, with a year-over-year rent change of 8.5%. Per bedroom, the median rent as of July '25 in Joliet, IL is studios: $1,120, 1-bedrooms: $1,160, 2-bedrooms: $1,620, 3-bedrooms: $2,190, 4-bedrooms: $2,580. The most common rental property sizes in Joliet, IL are 2-bedroom and 1-bedroom, accounting for 39.2% and 31.6% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,600 | $1,790 |
| Studio Rent | $1,140 | $1,120 |
| 1 Bed Rent | $1,200 | $1,160 |
| 2 Bed Rent | $1,500 | $1,620 |
| 3 Bed Rent | $2,340 | $2,190 |
| 4 Bed Rent | $2,330 | $2,580 |
% 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 27. This is a increase of 14.0% 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 28.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $295,000 | 5.0% |
Listing Count | 134 | 21.0% |
| Listings as % of Homes | 0.5% | 21.0% |
Days on Market | 27 | 14.0% |
Demographics — Joliet, IL
As of the latest ACS Survey released in 2023, Joliet, IL has a population of 48,500, which has decreased by -2.7% over the past 5 years. Joliet, IL is a moderately popular place for families, as children make up 23.9% of the population. The area has a poorly educated workforce, with 23.1% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 5.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 48,500 | -2.7% |
% Under 18 | 23.9% | -5.9% |
% Seniors | 14.2% | 5.2% |
% WFH | 5.0% | 100.0% |
% w/ College Degree | 23.1% | 9.5% |
As of the latest ACS Survey released in 2023, Joliet, IL is a predominantly white area, with 43.8% of the population identifying as white. The white population has shrunk by 16.3% in the last 5 years. The second most common race or ethnicity in Joliet, IL is hispanic, making up 36.6% of the population. Foreign-born residents account for 15.7% of the population in Joliet, IL, and this percentage has increased by 15.4% 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 | 43.8% | -16.3% |
% Black | 15.3% | 0.0% |
% Hispanic | 36.6% | 29.8% |
% Asian | 1.6% | -20.0% |
% Foreign Born | 15.7% | 15.4% |
Mortgage and Risk — Joliet, IL
According to HUD data as of 2023, there were 683 mortgage originations in Joliet, IL, of which 75.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 43.0% 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. 11.0% of loans were cash-out refinances, suggesting many homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 683 |
% Conventional Loans | 75.0% |
% Government Loans | 25.0% |
% Investor Loans | 3.0% |
% Second Loans | 0.0% |
% Cash Out Refinance | 11.0% |
Loan Activity
Rentals and Section 8 — Joliet, IL
As of 2024, the percent of homes in Joliet, IL under the Section 8 program is 10.9%. 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 2-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 3-bedroom units do not.
Section 8 Market Size
Total Units under HUD | 1,055 |
Total Units Section 8 | 696 |
% Rentals under Section 8 | 10.9% |
% Occupied Section 8 | 85.6% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $220 | $1,200 | $1,420 |
| 2 Bedroom | $100 | $1,500 | $1,600 |
| 3 Bedroom | -$280 | $2,340 | $2,060 |
| 4 Bedroom | $80 | $2,330 | $2,410 |
Affordability — Joliet, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 3 |
| Median Home Price | $265,000 |
| Median Household Income | $75,000 |