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Data on this report is based on areas within the legal city boundary, outlined in black on the map. Any additional neighborhoods shown on the map are associated with the city by name and are included for reference only.



Joliet, IL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q4 2023. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2022 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Joliet, IL Housing Market Trends

With 150,033 people, 49,815 houses or apartments, and a median cost of homes of $281,135, Joliet real estate and house prices are near the national average for all cities and towns.

Single-family detached homes are the single most common housing type in Joliet, accounting for 69.97% of the city's housing units. Other types of housing that are prevalent in Joliet include large apartment complexes or high rise apartments ( 11.72%), row houses and other attached homes ( 9.02%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 8.72%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Joliet. Owner-occupied housing accounts for 71.07% of Joliet's homes, and 61.27% have either three or four bedrooms, which is average sized relative to America.

There is a lot of housing in Joliet built from 1970 to 1999 so parts of town may have that "Brady Bunch" look of homes popular in the '70s and early '80s, although some of these houses were built up through the early '90s as well. There is also a lot of housing in Joliet built between 2000 and later ( 28.60%). A lesser amount of the housing stock also hails from between 1940-1969 ( 24.04%). There's also some housing in Joliet built before 1939 ( 15.60%).

Joliet Home Appreciation Rates

Appreciation rates for homes in Joliet have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 82.27%, which ranks in the top 50% nationwide. This equates to an annual average Joliet house appreciation rate of 6.19%.

Over the last year, Joliet appreciation rates have trailed the rest of the nation. In the last twelve months, Joliet's appreciation rate has been 4.77%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Joliet were at 0.21%, which equates to an annual appreciation rate of 0.86%.

Relative to Illinois, our data show that Joliet's latest annual appreciation rate is higher than 50% of the other cities and towns in Illinois.

One very important thing to keep in mind is that these are average appreciation rates for the city. Individual neighborhoods within Joliet differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Joliet - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Joliet real estate investment or home purchase decisions.

Average Home Values

Median Home Value

$281,135

Joliet, IL Home Prices
> $1,255,000
$941,001 - $1,255,000
$628,001 - $941,000
$502,001 - $628,000
$377,001 - $502,000
$251,001 - $377,000
$126,001 - $251,000
$63,001 - $126,000
$0 - $63,000
0.6%
0.6%
0.2%
0.2%
0.9%
0.9%
2.9%
2.9%
16.4%
16.4%
36.6%
36.6%
33.8%
33.8%
5.8%
5.8%
2.9%
2.9%
0% 100.0%
% of Homes
High

for Illinois

Average

for nation

Number of Homes And Apartments:

49,815

Joliet Appreciation Rates

Rent & Ownership

Average Market Rent:

$2,399 / per month

Homeownership Rate

Owners
Renters
71.1%
71.1%
28.9%
28.9%
0% 100.0%
% of Homes

Vacancy Rate

Vacant
Occupied
5.7%
5.7%
94.3%
94.3%
0% 100.0%
% of Homes

Housing Market Details

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
28.6%
28.6%
31.8%
31.8%
24.0%
24.0%
15.6%
15.6%
0% 100.0%
% of Homes

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
70.0%
70.0%
9.0%
9.0%
8.7%
8.7%
11.7%
11.7%
0.5%
0.5%
0.1%
0.1%
0% 100.0%
% of Homes

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
2.0%
2.0%
7.7%
7.7%
24.4%
24.4%
38.3%
38.3%
23.0%
23.0%
4.6%
4.6%
0% 100.0%
% of Homes