Romeoville, Illinois Housing Market Prices
Updated
Romeoville Home Prices and Rent at a Glance
The median home price (often called the average home price), rent costs, affordability metrics, and housing stock characteristics for this housing market.
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Median home price 112% above the Illinois median$317,182
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Median rent 48% above the Illinois median$1,891
Housing Market Overview
| Metric | Romeoville | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $317,182 | $149,936 | $248,835 |
| Price Trend (Annual %) | 15.6% | 2.5% | 7.5% |
| Median Gross Rent | $1,891 | $1,274 | $1,407 |
| Rent Trend (Annual %) | 3.6% | 4.1% | 5.1% |
| Household Income Trend (Annual %) | — | — | — |
The median home price in Romeoville is about 112% higher than in Illinois. Rent is about 48% higher than the Illinois average.
Median Home and Rent Price Trends
Median Home Prices, 2015-2024
Median Rent Prices, 2015-2024
Both home prices and rent are rising in Romeoville, up about 15.6% and 3.6% a year respectively. Home prices are changing faster.
Median rent in Romeoville rose about 36.7% between 2015 and 2024, from $1,383 to $1,891. Over the same span, rent in Illinois rose about 40.4%.
Affordability
On average, housing unit costs 3.1 yearly household incomes in Romeoville.
Buying the median-priced home in Romeoville costs roughly 14.0 years of rent at the median monthly rate. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Romeoville. The price-to-rent ratio in Illinois is about 9.8.
| Metric | Romeoville | Illinois Avg | US Average |
|---|---|---|---|
| Median Home Price | $317,182 | $149,936 | $248,835 |
| Median Household Income | $102,094 | $84,042 | $80,455 |
| Price-to-Income Ratio | 3.1 | 1.8 | 3.1 |
Home Prices vs Income Over Time
Between 2015 and 2024, the median home price in Romeoville rose about 132.3%, while median household income rose about 46.5% between 2009 and 2025 — the home price grew faster than income.
Income Growth vs Housing Cost Growth (Year-over-Year %)
Compare income and housing cost trends.
Occupancy & Tenure
| Metric | Romeoville | Illinois Avg | US Average |
|---|---|---|---|
| Homeownership Rate | 78.4% | 61.9% | 58.5% |
| Rental Rate | 18.0% | 30.4% | 31.2% |
| Vacancy Rate | 3.5% | 7.7% | 10.2% |
| Median Tenure (years) | 15.0 | 16.0 | 15.0 |
| Median Year Moved In | 2011 | 2010 | 2011 |
Romeoville has a homeownership rate of 78.4%, higher than the Illinois average of 61.9%. Its housing vacancy rate is 3.5%, compared with 7.7% in Illinois.
Housing Stock
| Metric | Romeoville | Illinois Avg | US Average |
|---|---|---|---|
| Average Household Size | 2.98 people | 2.46 people | 2.53 people |
| Median Structure Built Year | 1992 | 1969 | 1978 |
| Median Number of Rooms | 5.9 | 5.6 | 5.5 |
The typical housing unit in Romeoville was built around 1992. On average, 3.0 people live in a home with about 5.9 rooms, staying for about 15.0 years on average.
Romeoville, IL Housing Compared With Nearby Cities
How Romeoville, IL compares with the 1 cities closest to it.
| Area | Population | Median home price | Median rent | Homeownership |
|---|---|---|---|---|
| Romeoville, IL | 36,499 | $317,182 #1/2 | $1,891 #1/2 | 81.3% #1/2 |
| Bolingbrook, IL | 74,594 | $205,512 | $1,748 | 78.7% |
Frequently Asked Questions
Common questions about the housing market in Romeoville, Illinois.
What is the median home price in Romeoville, Illinois?
The median home price in Romeoville, Illinois is $317,182, higher than the Illinois average of $149,936.
What is the average home price in Romeoville, Illinois?
The typical home price in Romeoville, Illinois, reported as the median sale price, is $317,182. The median is used instead of a mathematical average because it is not skewed by a small number of very expensive or very cheap homes, so it better reflects what a typical buyer pays.
What is the median rent in Romeoville, Illinois?
The median gross rent in Romeoville, Illinois is $1,891 per month, higher than the Illinois average of $1,274.
What was the median gross rent in Romeoville in 2020?
In 2020, the median gross rent in Romeoville, Illinois was $1,624 per month.
What is the price-to-rent ratio in Romeoville, Illinois?
The price-to-rent ratio in Romeoville, Illinois is about 14.0, meaning it would take roughly 14.0 years of rent payments at the median rent to equal the median home price. That is a relatively low price-to-rent ratio, which tends to favor buying over renting in Romeoville.
Are home prices or rent rising faster in Romeoville, Illinois?
Both home prices and rent are rising in Romeoville, up about 15.6% and 3.6% a year respectively. Home prices are changing faster.
What is the homeownership rate in Romeoville, Illinois?
78.4% of households in Romeoville, Illinois own their home, higher than the Illinois average of 61.9%.
What is the vacancy rate in Romeoville, Illinois?
The housing vacancy rate in Romeoville, Illinois is 3.5%, lower than the Illinois average of 7.7%.
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