Mortgage Rates in Joliet, Illinois — March 2026
Updated March 2026 | Based on Joliet market data and regional lending conditions
Joliet is a growing city in Illinois with a population of 150,362. The current 30-year fixed mortgage rate in Joliet is 6.69%, which is 0.04% above the national average. With a median home price of $245,000 and a 20% down payment of $49,000, homebuyers can expect a monthly principal and interest payment of approximately $1,263.
Current Mortgage Rates in Joliet, IL
Below are the current average mortgage rates available in the Joliet area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.69% | 6.65% | +0.04% |
| 15-Year Fixed | 5.93% | 5.89% | +0.04% |
| 5/1 ARM | 6.19% | 6.15% | +0.04% |
| FHA | 6.29% | 6.25% | +0.04% |
| VA | 6.09% | 6.05% | +0.04% |
| Jumbo | 6.89% | 6.85% | +0.04% |
Joliet Housing Market Overview
The Joliet housing market offers relatively affordable housing compared to many major cities. The median household income in Joliet is $68,250, and the cost of living index is 93.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $72,257 to comfortably afford the median-priced home in Joliet, which exceeds the current median household income.
Monthly Payment Breakdown for Joliet
Based on the median home price of $245,000 with 20% down ($49,000), here is what you can expect to pay monthly in Joliet:
15-Year vs. 30-Year Mortgage in Joliet
Choosing a 15-year mortgage in Joliet at 5.93% instead of a 30-year at 6.69% would save you $158,220 in total interest over the life of the loan. However, your monthly payment would be $1,647 instead of $1,263 — an increase of $384 per month.
Calculate Your Joliet Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Joliet
What are the current mortgage rates in Joliet, IL?
As of March 2026, the average 30-year fixed mortgage rate in Joliet, Illinois is 6.69%, while the 15-year fixed rate is 5.93%. FHA loans average 6.29% and VA loans 6.09%. These rates are 0.04% above the national average of 6.65%.
How much is a monthly mortgage payment in Joliet?
Based on the median home price of $245,000 with 20% down, the estimated monthly mortgage payment in Joliet is $1,263 for principal and interest. Including property taxes of $423/month, the total monthly housing cost is approximately $1,686.
What income do I need to buy a home in Joliet?
Using the 28% rule, you would need an annual income of approximately $72,257 to afford the median-priced home in Joliet at $245,000. The median household income in Joliet is $68,250. This means most households would need to either earn above the median or consider homes below $245,000.
Is Joliet a good place to buy a home in 2026?
Joliet offers a below-average cost of living with a cost of living index of 93.5 (national average = 100). The property tax rate in Illinois is 2.07%, which is above the national average. Joliet has a population of 150,362 and offers a very affordable lifestyle.
Mortgage Rates in Other Illinois Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Joliet, Illinois area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.