Romeoville, Illinois Real Estate & Housing Market

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Romeoville Housing Information

Index	Romeoville	Illinois	National
Median home price	$166,500	$174,800	$184,700
Median rent asked	$1,432	$925	$949
Avg. people per household	3.0	2.6	2.6
Owner occupied households	82.3%	66.0%	63.6%
Renter occupied households	17.7%	34.0%	36.4%

A general overview of the Romeoville, IL real estate market is displayed above. The median home price for homes in Romeoville, IL is $166,500, which is 5% lower than the Illinois average. This means that real estate in the Romeoville, IL area is generally more affordable than the rest of Illinois. The median rent price in Romeoville, IL is $1,432 which is 55% higher than the Illinois average. In Romeoville, IL, 82.3% of people are home owners and an average of 3.0 people occupy each home. From luxury houses to affordable condos to urban townhomes, there are many different types of real estate in Romeoville, IL. We make it easy to find Romeoville, IL real estate listings and homes for sale by filtering location, price, bedrooms and bathrooms in the search area above.

Romeoville Home Affordability

Home affordability can be a very important factor when determining where to purchase real estate in Romeoville, IL. One method that can be used to calculate home affordability is the home price to median household income ratio. The median home price in Romeoville, IL is $166,500 and the median household income is $71,344. This results in a home price to income ratio of 2.3x, which is 21% lower than the Illinois average. The home affordability ratio is calculated by dividing the median home price by the median home income. A lower than average home price to income ratio means that homes in Romeoville, IL are more affordable based on the median price of homes compared to home income. Of course, there are many other factors to consider when focusing on home affordability. Use the home affordability calculator below to see exactly how much you can afford to pay for real estate in Romeoville, IL.

Nearby cities with low home prices

City, State	Population	Home Price	National Avg.
Hodgkins, IL	1,960	$32,300	83%
Fairmont, IL	2,516	$90,500	51%
Ingalls Park, IL	2,872	$92,600	50%
Preston Heights, IL	2,916	$104,900	43%
Rockdale, IL	2,151	$130,900	29%
Romeoville, IL	39,739	$166,500	10%

Cities with similar population

City, State	Population	Home Price	National Avg.
Calexico, CA	39,750	$165,300	11%
Odenton, MD	39,759	$309,200	67%
Woodlawn, MD	39,685	$203,500	10%
Maplewood, MN	39,678	$188,400	2%
La Quinta, CA	39,801	$360,900	95%
Romeoville, IL	39,739	$166,500	10%

Source: The Romeoville, IL housing data displayed above is derived from the 2016 United States Census Bureau American Community Survey (ACS).