Will County Housing Market 2026: Trends, Prices, and Outlook

The Will County housing market has shifted in some interesting ways heading into 2026. Whether you're thinking about buying your first home, upgrading to something bigger, or listing a property, here's what the numbers and local conditions actually look like right now.

Where Do Home Prices Stand Across Will County?

One thing that hasn't changed: location still drives pricing more than anything else in this county. The spread between the most affordable and most expensive communities remains wide, which is part of what makes Will County appealing to such a range of buyers.

Here's a snapshot of median home prices by community as of early 2026:

Compared to a year ago, most communities have seen prices climb between 3% and 6%. Frankfort and Plainfield have led the way, while Joliet and Bolingbrook saw more modest gains in the 2% to 4% range. None of that is surprising given how tight inventory has been.

The Bigger Picture: Chicago Metro Housing Forecast

Will County doesn't exist in a vacuum. The broader Chicago metropolitan housing forecast for 2026 points to continued price appreciation in the 3% to 5% range, driven largely by persistent supply constraints and steady employment in the region.

A few factors shaping the metro outlook:

• Job growth in logistics, healthcare, and professional services is keeping demand stable across the southwest suburbs.
• Migration patterns still favor the outer suburbs. Buyers priced out of DuPage and western Cook County continue looking south into Will County for more square footage per dollar.
• Inflation has moderated, which helps consumer confidence, but hasn't translated into dramatically lower mortgage rates yet.

The bottom line for Will County: prices aren't likely to drop. The question is really whether they'll rise at 3% or closer to 5%, and that depends heavily on what happens with mortgage rates and new construction over the next several months.

Inventory: Slowly Getting Better, But Still Tight

If you've been watching the local market, you've probably noticed more "For Sale" signs popping up compared to 2024 and early 2025. That's real. Active listings across Will County have increased roughly 12% to 15% year-over-year as of February 2026.

That said, "improving" and "balanced" aren't the same thing. We're still firmly in seller's territory for most price brackets under $400,000. Homes priced correctly in Plainfield, New Lenox, and Mokena continue to attract multiple offers within the first week. The luxury segment above $500,000 has a bit more breathing room for buyers, with longer days on market and more room to negotiate.

What's driving the inventory increase? A few things are at play. Some homeowners who locked in ultra-low rates during 2020-2021 are finally deciding to move for life reasons - job changes, growing families, retirements - despite the rate gap. New construction completions are also adding to the supply, particularly in Plainfield and the Joliet west side. For a broader look at household budgeting in this area, our cost of living guide breaks down what to expect beyond just the mortgage payment.

Interest Rates and What They Mean for Affordability

Mortgage rates have been hovering in the mid-6% range for 30-year fixed loans through early 2026. That's down from the peaks we saw in late 2023 and 2024, but it's a far cry from the sub-3% rates that feel like ancient history now.

What does that actually mean in monthly payment terms? On a $300,000 home with 10% down, a 6.5% rate puts your principal and interest payment around $1,706 per month. Compare that to a 3% rate on the same loan, and you'd have been paying $1,138. That's a $568 difference every single month, which is a real hit to purchasing power.

The practical effect in Will County: buyers are gravitating toward communities where they can get more home for their budget. Joliet and Lockport have benefited from this dynamic. Buyers who might have been shopping in Plainfield or Frankfort two years ago are now running the numbers and finding they can get a comparable home in Joliet or Bolingbrook while keeping their monthly payment manageable.

There's cautious optimism that rates could dip into the high 5% range later in 2026 if inflation continues to cool, but nobody should bank on that. The smart move is to buy when the home and payment work for your situation, not when you think rates might be at their lowest.

New Construction Activity

Builders have been busy in several pockets of Will County, and that new inventory is a welcome addition to a market that's been starved for supply.

Plainfield

Multiple subdivisions are still delivering new homes, primarily in the $350,000 to $500,000 range. Demand from families targeting District 202 schools keeps absorption rates strong. Most builders report 30 to 60 day sales cycles on completed spec homes.

Joliet West Side

This area has seen some of the most notable new development activity in the county. Several communities are going up along the Route 30 and Caton Farm Road corridors, with price points in the $250,000 to $350,000 range. These are attracting first-time buyers and young families who want a new home without the Plainfield price premium.

Romeoville

Romeoville's proximity to major employers along the I-55 corridor and its relatively affordable land costs have made it a target for builders. Townhome and single-family developments are underway, mostly priced between $250,000 and $380,000.

One caveat with new construction: property taxes on brand-new homes can be a shock. The first year or two of tax bills are often based on the land value alone, but once the home is fully assessed, your tax bill could jump significantly. Make sure you're budgeting for the fully-assessed tax amount, not just the initial bill.

Property Taxes: The Elephant in the Room

You can't have an honest conversation about the Will County housing market without talking about property taxes. Illinois ranks near the top nationally, and Will County's average effective tax rate sits around 2.62%. That number matters more than most people realize when they're calculating affordability.

On a home assessed at $300,000, you're looking at roughly $7,860 per year in property taxes, or about $655 per month on top of your mortgage payment. For a $400,000 home in Frankfort, that jumps to around $10,480 annually.

The tax picture varies quite a bit depending on which taxing districts your property falls in. School district boundaries, park districts, library districts, and fire protection districts all layer on. Two homes sitting a half-mile apart can have meaningfully different tax rates if they're in different districts. Our property tax guide goes deeper into how these rates are calculated and what exemptions you might qualify for.

Worth noting: the homestead exemption can reduce your assessed value by up to $10,000 for owner-occupied primary residences. If you're a senior, there are additional exemptions available. These won't eliminate the bill, but they do help.

Tips for Buyers in This Market

Buying a home in Will County right now requires some strategy. Here's what's working for successful buyers:

• Get fully pre-approved, not just pre-qualified. Sellers and their agents want to see a thorough underwriting review, not just a quick credit pull. A strong pre-approval letter makes your offer stand out.
• Know your total monthly cost. Don't just look at the purchase price. Factor in property taxes, insurance, and any HOA fees. A $300,000 home in Will County with taxes and insurance can easily run $2,800 to $3,200 per month.
• Be ready to move fast under $350K. Homes in the most competitive price range get scooped up quickly. Have your paperwork in order and be ready to make an offer within 24 to 48 hours of seeing a home you like.
• Consider communities you might have overlooked. Lockport, Romeoville, and parts of Joliet offer solid value. Don't limit yourself to the "name brand" towns without at least running the numbers elsewhere.
• Don't skip the inspection. Waiving inspections became common during the frenzy years. The market has cooled enough that most sellers will accommodate a reasonable inspection contingency, and you should absolutely insist on one.

Tips for Sellers

Sellers still have leverage in most price brackets, but that doesn't mean you can be lazy about it. The days of throwing a home on the market with phone photos and getting ten offers are largely behind us.

• Price it right from day one. Overpricing and sitting on the market for 30+ days is worse than pricing competitively and generating urgency. Buyers are more informed than ever, and they know when something is overpriced.
• Invest in presentation. Clean, decluttered, and well-photographed homes sell faster and for more money. Professional photography is essentially mandatory at this point.
• Be flexible on closing timelines. Many buyers need to sell their current home or coordinate a move. Offering flexibility on the closing date can be the thing that tips a deal in your favor.
• Understand your competition. Look at what else is on the market in your price range and neighborhood. If three similar homes are listed within a mile, you need to differentiate yours somehow, whether that's price, condition, or terms.

Looking Ahead: What to Expect Through the Rest of 2026

Barring some unforeseen economic shock, the Will County housing market should remain stable through 2026 with modest price appreciation. The spring selling season will tell us a lot. If mortgage rates edge down into the high 5% range, expect a wave of pent-up demand to hit the market, which could push prices up faster than the 3% to 5% consensus.

New construction will continue to add supply, particularly in Plainfield and western Joliet, but not nearly enough to flip the market in buyers' favor. The fundamental imbalance between the number of people who want to live in Will County and the number of available homes isn't going away anytime soon.

For most people, the decision to buy or sell should be driven by personal circumstances, not by trying to time the market perfectly. If you've found a home you can afford in a neighborhood that fits your family, waiting for rates to drop another quarter point probably isn't worth the risk of losing out on the right property.