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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With a population of 150,033, 49,815 total housing units (homes and apartments), and a median house value of $301,716, 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%).
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 94.82%, which ranks in the top 50% nationwide. This equates to an annual average Joliet house appreciation rate of 6.90%.
Appreciation rates are so strong in Joliet that despite a nationwide downturn in the housing market, Joliet real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Joliet appreciation rates continue to be some of the highest in America, at 8.15%, which is higher than appreciation rates in 71.73% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Joliet. Joliet appreciation rates in the latest quarter were at 2.79%, which equates to an annual appreciation rate of 11.63%.
Relative to Illinois, our data show that Joliet's latest annual appreciation rate is lower 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.
$301,716
for Illinois
for nation
49,815
$2,524 / per month