Investment metrics, interactive calculators, and data-driven analysis for Joliet rental properties.
Pre-filled with Joliet medians. Adjust to match a specific property.
Factor in financing to see your actual return on invested capital in Joliet.
Joliet, IL has a population of 151,000 and has been growing at 0.4% annually — roughly in line with national trends, meaning demand is stable but not exceptional. The median home price of $250,000 paired with median rents of $1,380/mo produces an estimated cap rate of 3.38%.
Property taxes at 2.06% are notably high and represent a significant drag on cash flow — model this expense carefully, as it can make or break a deal. The vacancy rate of 5.8% is moderate and within normal parameters for a healthy rental market.
At a price-to-income ratio of 3.7x, homes cost about 3.7 times the local median income of $68,200. This relatively affordable ratio suggests a deep pool of renters who find buying out of reach, supporting rental demand. Home values have appreciated at roughly 2.2% annually. Steady appreciation means total returns will be primarily cash flow-driven — the more sustainable model for long-term wealth building.
Bottom line: At current median prices, Joliet is challenging for pure cash flow investing. Consider BRRRR strategies with below-market purchases, or look at neighboring metros with stronger price-to-rent ratios.