Median Home Price
$361,064.29
Median Rent
$2,121.37/mo
Price-to-Rent Ratio
14.2
Property Tax RateTIE
2.27%
Price Change (1Y)
+3.1%
Price Change (5Y)
+15.6%
Break-Even Years
N/A
10-Year Wealth Difference
$150,704
Median Home PriceBETTER
$154,382.4
Median RentBETTER
$1,168.27/mo
Price-to-Rent RatioBETTER
11.0
Property Tax RateTIE
2.27%
Price Change (1Y)BETTER
+8.9%
Price Change (5Y)BETTER
+44.4%
Break-Even YearsBETTER
3 years
10-Year Wealth DifferenceBETTER
+$50,773
Key Differences
Home Prices
Joliet's median home price of $361,064.29 is higher than Peoria's $154,382.4 by 134%.
Monthly Rent
Renting in Joliet costs $2,121.37/mo compared to $1,168.27/mo in Peoria—a difference of $953.1/mo.
Buy vs Rent Verdict
Joliet favors renting, while Peoria favors buying.
Break-Even Timeline
Break-even analysis varies based on market conditions in each city.