Real Estate Investing in Joliet, Illinois (60431)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 60431 (Joliet, IL)? Our answer, based on the numbers below.
Solid choice — values are growing steadily and the market is stable enough to buy with confidence.
A middle-of-the-road market. Workable, but the best opportunities may be nearby ZIPs rather than this one.
No major risk flags on the data we track.
What’s happening in Joliet, IL (60431)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 60431 Joliet
Put differently, ZIP 60431 has challenges — vacancy pressure, softer price growth, and tenant stability concerns sit alongside the $357K median. It rewards specialists, not generalists.
On the rental side, the numbers look inviting — $357K purchase price, 0.0% nominal cap — the work to hit that pro forma in 60431 is substantial and deserves full respect.
Regionally, 60431 sits on the difficult end of the IL spectrum. The an appealing option for read — for disciplined operators — is that pricing reflects the difficulty.
Who lives in 60431 is part of why the ZIP is priced as it is. The demographic profile requires hands-on management, tight screening, and local knowledge.
seems to the ZIP is not uninvestable, but it is unforgiving. Section 8 landlords, local operators, and specialized value-add funds are the investor types that tend to succeed.
Here's what matters if you're considering buying a home in Joliet:
Property Strategy for 60431
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $265,330 | $1,880 | 5.1% | +10.0% | $132,665 |
| 3BR | $333,177 | $2,460 | 5.3% | +8.1% | $111,059 |
| 4BR | $398,017 | $2,770 | 5.0% | +8.6% | $99,504 |
| 5BR | $441,493 | — | — | +8.4% | $88,299 |
Market Trends
Home Value History (with trend line)
Rent History (with trend line)
📊 How Does 60431 Compare?
| Metric | 60431 | Joliet | Illinois |
|---|---|---|---|
| Home Value | $357,147 | $265,971 | $279,761 |
| 5-Year CAGR | 5.6% | 5.8% | 6.6% |
| Avg Rent | $2,508 | $1,755 | - |
| Cap Rate | 5.5% | 5.2% | - |
Similar ZIPs Within 25 Miles
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Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 60431 (Joliet, IL). Anonymous, moderated, never written by AI.
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Property managers serving Will County
Manage rentals here? List your business →HSR Property Services, LLC is a full-service property management firm in Tinley Park, IL, specializing in Condominium, Townhome & Single Family Homeowner Associations, Apartment Rentals, Affordable & summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $357,147 |
| Monthly Rent | $2,508 |
| Price-to-Rent | 11.9:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 8.4% |
| Cap Rate | 5.5% |
| 5-Year IRR | 11.1% |
📈 Home Appreciation
| 1-Year | +5.3% ▲ |
| 3-Year CAGR | +4.5% ▲ |
| 5-Year CAGR | +5.6% ▲ |
| 10-Year CAGR | +5.7% ▲ |
🏠 Rent Trends
| 1-Year | -8.7% ▼ |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (5.5%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 60431
Population: 26,789
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 60431
Schools in This ZIP Code
Nearby Schools (5 more)
Schools in adjacent ZIP codes that may serve this area
Troy Cronin Elem School
Orenic Intermediate School
Troy Hofer Elem Sch
Troy Shorewood School
Ridge Elementary School
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 1,390 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What do rentals go for in Joliet, IL?
Rental rates in Joliet, IL average $2,508/mo. Tenant demand and $357K home values make the yield look reasonable by investor standards.
Is Joliet, IL better for rentals, flips, or BRRRR?
For Joliet, IL, careful cash-flow rentals with hands-on management is the standard investor playbook. The market structure makes it a reasonable default approach.
What is the rental occupancy rate in Joliet, IL?
Joliet, IL vacancy trends elevated. Investors running standard buy-and-hold plays see reasonable downtime between tenants.
Where do home prices stand in Joliet, IL?
Joliet, IL home values average about $357K. That price point suits investors targeting rentals with $2,508/mo in monthly income.
Is Joliet, IL a good market for buy-and-hold investors?
Investors tracking Joliet, IL will find a 3.0/5 rating supported by $357K median home values and $2,508/mo rents. That profile suits long-term holders targeting steady returns.
You know 60431 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 60431 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 60431 ranks in Chicago-Naperville-Elgin, IL-IN-WI
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