menu





Romeoville, IL Real Estate Market

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q2 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Romeoville, IL Housing Market Trends

With a population of 39,863, 11,675 total housing units (homes and apartments), and a median house value of $265,598, Romeoville real estate prices are well above average cost compared to national prices.

Single-family detached homes are the single most common housing type in Romeoville, accounting for 71.11% of the village's housing units. Other types of housing that are prevalent in Romeoville include row houses and other attached homes ( 18.95%), large apartment complexes or high rise apartments ( 8.03%), and a few duplexes, homes converted to apartments or other small apartment buildings ( 1.91%).

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Romeoville. Owner-occupied housing accounts for 81.32% of Romeoville's homes, and 75.33% have either three or four bedrooms, which is average sized relative to America.

Romeoville homes and real estate are some of the newest in America. 48.15% of Romeoville's housing was built since 2000, making the village have a very new look and feel. If you like the amenities of newer homes and subdivisions, then you will probably like what the Romeoville real estate market has to offer. Quite a bit of the housing here was also built between 1970-1999 ( 31.80%), and between 1940-1969 ( 19.49%).

Romeoville Home Appreciation Rates

Appreciation rates for homes in Romeoville have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 90.57%, which ranks in the top 30% nationwide. This equates to an annual average Romeoville house appreciation rate of 6.66%.

Over the last year, Romeoville appreciation rates have trailed the rest of the nation. In the last twelve months, Romeoville's appreciation rate has been 11.00%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Romeoville were at 2.62%, which equates to an annual appreciation rate of 10.90%.

Relative to Illinois, our data show that Romeoville's latest annual appreciation rate is higher than 80% of the other cities and towns in Illinois.

One very important thing to keep in mind is that these are average appreciation rates for the village. Individual neighborhoods within Romeoville differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Romeoville - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Romeoville real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$265,598

Romeoville, IL HOME PRICES

> $1,305,000
$980,001 - $1,305,000
$653,001 - $980,000
$523,001 - $653,000
$391,001 - $523,000
$261,001 - $391,000
$130,001 - $261,000
$66,001 - $130,000
$0 - $66,000
0.7%
0.7%
0.0%
0.0%
0.2%
0.2%
0.6%
0.6%
4.7%
4.7%
43.6%
43.6%
46.8%
46.8%
1.7%
1.7%
1.8%
1.8%
0.0% 100.0%
% OF HOMES
Value Relative To State

High for Nation

High for IL

Value Relative To Nation

Number Of Homes And Apartments:
11,675

Romeoville Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
IL*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
74.46% 2.50%
8
2
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$2,541 / per month

Homeownership Rate

Owners
Renters
Vacant
81.3%
81.3%
18.7%
18.7%
5.6%
5.6%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
48.1%
48.1%
31.8%
31.8%
19.5%
19.5%
0.6%
0.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
71.1%
71.1%
18.9%
18.9%
1.9%
1.9%
8.0%
8.0%
0.0%
0.0%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.3%
0.3%
2.9%
2.9%
18.2%
18.2%
50.4%
50.4%
24.9%
24.9%
3.3%
3.3%
0.0% 100.0%
% OF HOMES