Joliet Home Prices: $251K, Up 0.5% — 4 ZIPs Analyzed (2026)

$250,957. That’s what a typical home costs in Joliet right now. Prices inched up just 0.5% over the past year — barely keeping pace with inflation. For buyers watching the Chicago suburbs, Joliet remains one of the more affordable options in the metro.

Quick answer: The average home price in Joliet, IL is $250,957 as of February 2026, up 0.5% year over year according to Zillow.

Current Home Prices in Joliet

Joliet sits in the Chicago-Naperville-Elgin metro area, but its price tag tells a different story than Chicago proper. Here’s where things stand:

That 0.5% annual gain translates to roughly $1,250 in added value over a year. You’re not building wealth fast here, but you’re not losing it either.

The $150K spread between the cheapest and most expensive ZIP codes is significant for a city this size. That means your experience of the Joliet market depends heavily on which part of town you’re looking at. A buyer with $200K has real options in some neighborhoods. In others, $340K barely gets you in the door.

February 2026 data shows the market has been essentially flat since last spring. Prices dipped slightly through the fall and winter months before ticking back up in early 2026. This is a market that’s holding steady, not surging.

Joliet Home Prices by Neighborhood

All four tracked ZIP codes show meaningful price differences:

Most Expensive

60431 tops the list at $343,924 — nearly 37% above the city median and the only ZIP where rent data is available at $2,654 per month, reflecting the higher-end housing stock in this area.

Most Affordable

60432 is Joliet’s cheapest ZIP at $193,471, a full 23% below the city average. For buyers on a tight budget, this is one of the few spots in the Chicago metro where sub-$200K homes still exist.

60433 comes in at $202,238, just barely over the $200K mark and 19% below the city median.

The gap between 60431 and 60432 is $150,453. That’s enough to buy a modest home in some Midwest markets.

Rent vs Buy in Joliet

Rent data is available for two of Joliet’s four ZIP codes:

Estimated monthly mortgage based on 20% down, 6.5% rate, 30-year fixed. Does not include taxes, insurance, or HOA.

In ZIP 60435, the numbers are close. Renting at $1,420 versus a mortgage around $1,510 means the monthly difference is about $90. Factor in property taxes and insurance, and renting is cheaper on a cash-flow basis. But you’d be building equity as an owner.

ZIP 60431 tells a different story. Rent at $2,654 far exceeds the estimated mortgage payment of $1,970. If you’re renting in this area, buying could save you roughly $680 per month on the base payment alone. That’s an unusual situation — in most markets, buying costs more month to month.

Rent data is not available for ZIPs 60432 and 60433.

Population Growth and Migration

Joliet’s population reached 151,837 in 2024. That’s a 1.0% increase from 150,352 in 2020 — modest growth, but growth nonetheless.

The trajectory dipped slightly in 2022 before recovering. The last two years show steady gains of about 600-750 residents annually.

How does Joliet compare to other Illinois cities?

Joliet’s 1.0% growth outpaces Aurora and Elgin but trails Naperville and Champaign. Waukegan is the only city here losing residents. A growing population supports housing demand, but at this rate, the pressure on prices is minimal — consistent with the 0.5% annual appreciation the data shows.

Joliet Housing Market Trends

The 12-month trend reveals a market that barely moved:

The city average moved within a $2,200 window over 12 months. That’s remarkably flat. Prices peaked in September 2025 at $251,749, dipped to $249,537 in December, then recovered to $250,957 by February.

Something interesting is happening at the ZIP level. The cheapest ZIP (60432) dropped from $200,956 in March 2025 to $193,471 in February 2026 — a decline of about 3.7%. Meanwhile, the most expensive ZIP (60431) climbed from $333,436 to $343,924, a gain of 3.1%. The gap between Joliet’s cheapest and most expensive neighborhoods is widening.

Is Joliet a Good Place to Buy in 2026?

The data points to a balanced market. With prices up only 0.5% year over year, neither buyers nor sellers have a strong upper hand.

For buyers, the case is straightforward: Joliet offers entry into the Chicago metro at a price point well below the metro average. Four ZIP codes with medians between $193K and $344K give you real choices based on your budget. The flat price trend means you’re unlikely to overpay, but you’re also unlikely to see rapid appreciation.

For sellers, the lack of price momentum means overpricing will cost you. The data doesn’t support aggressive listing strategies.

If you’re renting in the 60431 area and paying close to $2,654 per month, buying makes strong financial sense on paper. Elsewhere, the rent-versus-buy math is tighter.

The population is growing — slowly. That’s a signal of sustained demand without the overheating that leads to corrections.

Joliet Housing Market Outlook for 2026-2027

The three-month trend from December 2025 to February 2026 shows a gradual uptick: $249,537 to $250,957. If that pace continues through spring and summer — when buying activity typically picks up — the city average could approach $252,000 to $253,000 by late summer 2026.

The divergence between ZIP codes is worth watching. The most expensive areas are gaining value faster than the city average, while the most affordable ZIP is losing ground. This could compress options for budget buyers over the next year.

Nothing in the data suggests a sharp move in either direction. This is a slow, steady market. Expect more of the same: single-digit annual gains, seasonal dips in winter, and a price floor that holds.

Similar Markets in IL

If you’re exploring the Joliet area, these Illinois cities offer useful comparisons:

• Aurora — Joliet’s neighbor to the north with a larger population but similarly modest price growth.
• Naperville — Nearby and growing at 2.5%, though expect significantly higher prices.
• Plainfield — Another Will County option close to Joliet.
• Chicago — The anchor metro, where prices and dynamics differ sharply from the suburbs.
• Elgin — Flat population growth and a similar suburban profile to Joliet.

Frequently Asked Questions

What is the average home price in Joliet?

The average home price in Joliet is $250,957 as of February 2026. This figure represents the typical home value across all four tracked ZIP codes, which range from $193,471 in ZIP 60432 to $343,924 in ZIP 60431.

Are home prices going up or down in Joliet?

Prices are up 0.5% year over year. That’s essentially flat. Over the past 12 months, the city average has stayed within a narrow $2,200 band, peaking at $251,749 in September 2025 and dipping to $249,537 in December 2025.

Is it cheaper to rent or buy in Joliet?

It depends on the neighborhood. In ZIP 60431, average rent is $2,654 per month — well above the estimated mortgage payment of about $1,970 on a median-priced home there. Buying wins. In ZIP 60435, rent averages $1,420, which is slightly below the estimated $1,510 mortgage. When you add taxes and insurance, renting is cheaper on a monthly basis, though buying builds equity.

What is the most affordable neighborhood in Joliet?

ZIP code 60432 has the lowest median home value at $193,471 — about 23% below the city average. ZIP 60433 is the next most affordable at $202,238. Both are well under the $251K city median and offer entry points below $200K or close to it.

Methodology

Home values are based on the Zillow Home Value Index (ZHVI), a smoothed measure of typical home values in the 35th to 65th percentile range. Rent estimates use the Zillow Observed Rent Index (ZORI). Population figures come from the U.S. Census Bureau Population Estimates Program (2020-2024 vintage). All datasets are publicly available. Housing data updated 2026-02-28.