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Joliet vs Champaign for Rental Property Investing

Side-by-side comparison of Joliet, IL and Champaign, IL — cap rates, rent, prices, and investment metrics.

Champaign wins 6–0 across key metrics
Champaign leads on cash flow (3.96% vs 3.38% cap rate)
Metric
Joliet, IL
Champaign, IL
Est. Cap Rate
3.38%
3.96%
Median Home Price
$250,000
$175,000
Median Monthly Rent
$1,380
$1,050
1% Rule
0.55%
0.60%
GRM
15.1x
13.9x
Price / Income
3.7x
4.1x
Property Tax Rate
2.06%
2.04%
Vacancy Rate
5.8%
5.5%
Population Growth
0.4% / yr
0.5% / yr
Annual Appreciation
2.2%
2.2%
Population
151,000
93,000
Median Income
$68,200
$42,400

Joliet vs Champaign: Which Is Better for Investors?

Cash flow: Champaign has the edge with an estimated cap rate of 3.96% compared to Joliet's 3.38%. Neither city passes the 1% rule outright, so deal sourcing and value-add strategies become more important. Median home prices are $250,000 in Joliet vs $175,000 in Champaign, while rents come in at $1,380/mo and $1,050/mo respectively.

Growth & appreciation: Champaign is growing faster at 0.5% annually vs Joliet's 0.4%. Joliet leads on home value appreciation at 2.2% per year.

Costs & risk: Property taxes are 2.06% in Joliet vs 2.04% in Champaign. Vacancy rates of 5.8% and 5.5% are both healthy, suggesting strong tenant demand in both markets.

Bottom line: Champaign edges out Joliet on most key metrics. While cap rates are moderate at 3.96%, Champaign's overall profile is stronger. Use our free calculators to model specific deals in Joliet or Champaign.

Joliet, IL
3.38% cap rate · $250,000 median · $1,380/mo
Full analysis →
Champaign, IL
3.96% cap rate · $175,000 median · $1,050/mo
Full analysis →
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