Cost of Living in Joliet, Illinois
In Joliet, the median household income is $92,201 and the median gross rent is $1,276/mo, with a median home value of $265,800. Source: Census Bureau ACS, 2020-2024 estimates.
- Median household income
- $92,201
- Median gross rent
- $1,276/mo
- Median home value
- $265,800
- Population
- 150,445
How Joliet compares to the Illinois average
| Measure | Joliet, IL | Illinois statewide | Difference |
|---|---|---|---|
| Median household income | $92,201 | $83,390 | +10.6% |
| Median gross rent (monthly) | $1,276 | $1,274 | +0.2% |
| Median home value | $265,800 | $263,300 | +0.9% |
Statewide, Illinois prices average 100.0 on the BEA Regional Price Parity index (2024), where the U.S. average is 100.
Housing affordability in Joliet
- Salary needed for median rent
- $51,040
- Rent burden at median income
- 16.6%
- Est. affordable home price
- $336,343
So that $1,276/mo is 30% of gross income
Share of the median household income spent on median rent (30%+ = cost-burdened)
At median income, 6.67% 30-yr rate (FRED, 2026-08), 20% down, 28% front-end DTI
The median home value in Joliet is $265,800 — within what the median household income supports under these assumptions.
Estimates from documented formulas — see methodology. Not financial advice.
Cost of living in other Illinois cities
About this data
- American Community Survey 5-Year Estimates — data period 2020-2024, retrieved August 13, 2026.
- Regional Price Parities — data period 2024, retrieved August 13, 2026.
- Federal Reserve Economic Data — data period 2026-08, retrieved August 13, 2026.
Figures are shown exactly as published by the source or derived by the documented formulas on our methodology page. Where a source suppresses an estimate, we show “—” rather than a substitute value.