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Find Your Airbnb InvestmentInvesting in Airbnb properties in Romeoville, Illinois, presents a modest but potentially stable opportunity. Romeoville's market conditions are characterized by a steady suburban environment, rather than a major tourist destination, which means demand for short-term rentals is primarily driven by local events, business travel, and temporary stays for individuals visiting family or working in the area. Tourism trends are not a primary driver, unlike larger metropolitan areas, but its proximity to major transportation routes and industrial parks can create consistent, albeit niche, rental opportunities. Property values in Romeoville are generally more affordable compared to downtown Chicago, which can lower initial investment costs and potentially lead to a more accessible entry point for investors. The investment potential largely depends on targeting specific segments of travelers who need short-term accommodations in a suburban setting, such as contractors, visiting professionals, or families attending local events.
Based on available market data and rental analytics, Airbnb hosts in Romeoville, Illinois typically earn between $1,200 to $2,800 per month, with the average falling around $1,800 monthly for a standard two to three-bedroom property. Seasonal variations show peak earnings during summer months (June through August) when revenue can increase by 25-35% due to higher tourism and business travel, while winter months typically see a 15-20% decrease in bookings and rates. Properties near major attractions like the Chicagoland Speedway or those offering unique amenities can command premium rates of $85-120 per night, while standard homes average $65-85 nightly. Key factors affecting earnings include proximity to Chicago (approximately 30 miles southwest), property size and condition, professional photography quality, response time to guest inquiries, and competitive pricing strategies that account for local events and seasonal demand fluctuations. Occupancy rates in the area typically range from 60-75% annually, with successful hosts maintaining higher occupancy through dynamic pricing and exceptional guest experiences.
Airbnb investments in Romeoville, Illinois typically generate ROI between 8-12% annually, with payback periods averaging 7-10 years depending on property acquisition costs and renovation expenses. The average nightly rate in Romeoville ranges from $85-120 for a standard 2-3 bedroom property, with occupancy rates around 65-75% due to proximity to Chicago and local business travel demand. Compared to traditional long-term rentals in the area that yield approximately 6-8% ROI with monthly rents averaging $1,200-1,800, short-term rentals can outperform by 2-4 percentage points but require significantly higher operational involvement and carry greater vacancy risk. Properties near major highways and within 10 miles of corporate centers tend to achieve the higher end of ROI ranges, while seasonal fluctuations can impact winter occupancy rates by 15-25%, making cash flow management crucial for sustained profitability in this suburban Chicago market.
Airbnb occupancy rates in Romeoville, Illinois typically average around 55-65% annually, with peak seasons occurring during summer months (June-August) when rates can reach 70-75% due to increased travel and proximity to Chicago attractions, while winter months (December-February) see lower occupancy around 45-50%. Spring and fall maintain moderate occupancy levels of approximately 60-65%, with slight upticks during holiday weekends and local events. Romeoville's occupancy rates generally align closely with Illinois state averages of 58-68% but tend to run slightly below national Airbnb averages of 65-70%, primarily due to its suburban location and competition from nearby Chicago's more diverse accommodation options. The market benefits from business travelers visiting the area's industrial corridor and families attending events at nearby venues, though seasonal fluctuations are more pronounced than in urban markets, with summer representing the strongest performance period driven by leisure travel and outdoor activities in the region.
The best Airbnb investment neighborhoods in Romeoville include the areas near Weber Road and Route 53, which offer excellent proximity to major employers like Caterpillar and Lewis University while maintaining competitive rental rates due to the suburban family demographic and easy highway access. The neighborhoods around Highpoint Boulevard provide strong investment potential with newer construction homes that appeal to business travelers and families visiting the area, benefiting from close proximity to shopping centers and restaurants along Weber Road. Areas near Romeo Road and Route 53 intersection offer good pricing power due to their central location and access to both Chicago suburbs and downtown via I-55, attracting both leisure and business guests. The residential zones around Normantown Road provide a quieter setting that appeals to longer-term stays while still offering reasonable proximity to major attractions like the Isle a la Cache Museum and Romeoville Recreation Center. Neighborhoods near the Centennial Trail system attract outdoor enthusiasts and families, providing unique positioning for nature-focused marketing. The areas around 135th Street benefit from proximity to major retail developments and restaurants, offering guests convenient amenities. Finally, the residential pockets near Volunteer Park provide a balance of suburban tranquility and accessibility to local attractions, making them suitable for family-oriented Airbnb properties with moderate pricing power.
Romeoville, Illinois currently allows short-term rentals in residential zones with specific regulatory requirements including mandatory business license registration through the city clerk's office, a maximum occupancy limit of two guests per bedroom plus two additional guests with total occupancy not exceeding 10 people, no owner-occupancy requirement meaning non-resident owners can operate rentals, compliance with existing zoning ordinances that permit home-based businesses in residential districts, annual registration renewal with fees approximately $100-150, mandatory liability insurance coverage of at least $500,000, parking requirements of one space per bedroom, quiet hours enforcement between 10 PM and 7 AM, and prohibition of events or parties exceeding the occupancy limits. The registration process requires submission of property details, emergency contact information, proof of insurance, and compliance with fire safety codes including working smoke and carbon monoxide detectors. Recent changes implemented in 2022-2023 include stricter enforcement mechanisms, increased penalties for violations ranging from $250-1000, mandatory neighbor notification within 200 feet of the property, and enhanced complaint response procedures through a dedicated hotline, with the city conducting periodic inspections to ensure ongoing compliance with health, safety, and zoning requirements.
Short-term rentals in Romeoville, Illinois are subject to several fees and taxes including the state lodging tax of 6% on rental rates, Will County's hotel/motel tax of approximately 3%, and Romeoville's municipal lodging tax estimated at 2-4%. Property owners must obtain a business license costing approximately $50-100 annually and may need a short-term rental permit with fees ranging from $100-300 per year. Additional costs include potential inspection fees of $75-150, zoning compliance fees of $25-75, and sales tax registration which is typically free but requires quarterly filings. Tourism or destination marketing fees may apply at 1-2% of gross receipts, and some properties may be subject to additional special district taxes. Registration with the Illinois Department of Revenue for tax collection purposes is mandatory, and operators must also comply with local fire safety inspections which can cost $50-200 depending on property size and requirements.
Investing in Airbnb properties in Romeoville, Illinois, presents a modest but potentially stable opportunity. Romeoville's market conditions are characterized by a steady suburban environment, rather than a major tourist destination, which means demand for short-term rentals is primarily driven by local events, business travel, and temporary stays for individuals visiting family or working in the area. Tourism trends are not a primary driver, unlike larger metropolitan areas, but its proximity to major transportation routes and industrial parks can create consistent, albeit niche, rental opportunities. Property values in Romeoville are generally more affordable compared to downtown Chicago, which can lower initial investment costs and potentially lead to a more accessible entry point for investors. The investment potential largely depends on targeting specific segments of travelers who need short-term accommodations in a suburban setting, such as contractors, visiting professionals, or families attending local events.
Based on available market data and rental analytics, Airbnb hosts in Romeoville, Illinois typically earn between $1,200 to $2,800 per month, with the average falling around $1,800 monthly for a standard two to three-bedroom property. Seasonal variations show peak earnings during summer months (June through August) when revenue can increase by 25-35% due to higher tourism and business travel, while winter months typically see a 15-20% decrease in bookings and rates. Properties near major attractions like the Chicagoland Speedway or those offering unique amenities can command premium rates of $85-120 per night, while standard homes average $65-85 nightly. Key factors affecting earnings include proximity to Chicago (approximately 30 miles southwest), property size and condition, professional photography quality, response time to guest inquiries, and competitive pricing strategies that account for local events and seasonal demand fluctuations. Occupancy rates in the area typically range from 60-75% annually, with successful hosts maintaining higher occupancy through dynamic pricing and exceptional guest experiences.
Airbnb investments in Romeoville, Illinois typically generate ROI between 8-12% annually, with payback periods averaging 7-10 years depending on property acquisition costs and renovation expenses. The average nightly rate in Romeoville ranges from $85-120 for a standard 2-3 bedroom property, with occupancy rates around 65-75% due to proximity to Chicago and local business travel demand. Compared to traditional long-term rentals in the area that yield approximately 6-8% ROI with monthly rents averaging $1,200-1,800, short-term rentals can outperform by 2-4 percentage points but require significantly higher operational involvement and carry greater vacancy risk. Properties near major highways and within 10 miles of corporate centers tend to achieve the higher end of ROI ranges, while seasonal fluctuations can impact winter occupancy rates by 15-25%, making cash flow management crucial for sustained profitability in this suburban Chicago market.
Airbnb occupancy rates in Romeoville, Illinois typically average around 55-65% annually, with peak seasons occurring during summer months (June-August) when rates can reach 70-75% due to increased travel and proximity to Chicago attractions, while winter months (December-February) see lower occupancy around 45-50%. Spring and fall maintain moderate occupancy levels of approximately 60-65%, with slight upticks during holiday weekends and local events. Romeoville's occupancy rates generally align closely with Illinois state averages of 58-68% but tend to run slightly below national Airbnb averages of 65-70%, primarily due to its suburban location and competition from nearby Chicago's more diverse accommodation options. The market benefits from business travelers visiting the area's industrial corridor and families attending events at nearby venues, though seasonal fluctuations are more pronounced than in urban markets, with summer representing the strongest performance period driven by leisure travel and outdoor activities in the region.
The best Airbnb investment neighborhoods in Romeoville include the areas near Weber Road and Route 53, which offer excellent proximity to major employers like Caterpillar and Lewis University while maintaining competitive rental rates due to the suburban family demographic and easy highway access. The neighborhoods around Highpoint Boulevard provide strong investment potential with newer construction homes that appeal to business travelers and families visiting the area, benefiting from close proximity to shopping centers and restaurants along Weber Road. Areas near Romeo Road and Route 53 intersection offer good pricing power due to their central location and access to both Chicago suburbs and downtown via I-55, attracting both leisure and business guests. The residential zones around Normantown Road provide a quieter setting that appeals to longer-term stays while still offering reasonable proximity to major attractions like the Isle a la Cache Museum and Romeoville Recreation Center. Neighborhoods near the Centennial Trail system attract outdoor enthusiasts and families, providing unique positioning for nature-focused marketing. The areas around 135th Street benefit from proximity to major retail developments and restaurants, offering guests convenient amenities. Finally, the residential pockets near Volunteer Park provide a balance of suburban tranquility and accessibility to local attractions, making them suitable for family-oriented Airbnb properties with moderate pricing power.
Romeoville, Illinois currently allows short-term rentals in residential zones with specific regulatory requirements including mandatory business license registration through the city clerk's office, a maximum occupancy limit of two guests per bedroom plus two additional guests with total occupancy not exceeding 10 people, no owner-occupancy requirement meaning non-resident owners can operate rentals, compliance with existing zoning ordinances that permit home-based businesses in residential districts, annual registration renewal with fees approximately $100-150, mandatory liability insurance coverage of at least $500,000, parking requirements of one space per bedroom, quiet hours enforcement between 10 PM and 7 AM, and prohibition of events or parties exceeding the occupancy limits. The registration process requires submission of property details, emergency contact information, proof of insurance, and compliance with fire safety codes including working smoke and carbon monoxide detectors. Recent changes implemented in 2022-2023 include stricter enforcement mechanisms, increased penalties for violations ranging from $250-1000, mandatory neighbor notification within 200 feet of the property, and enhanced complaint response procedures through a dedicated hotline, with the city conducting periodic inspections to ensure ongoing compliance with health, safety, and zoning requirements.
Short-term rentals in Romeoville, Illinois are subject to several fees and taxes including the state lodging tax of 6% on rental rates, Will County's hotel/motel tax of approximately 3%, and Romeoville's municipal lodging tax estimated at 2-4%. Property owners must obtain a business license costing approximately $50-100 annually and may need a short-term rental permit with fees ranging from $100-300 per year. Additional costs include potential inspection fees of $75-150, zoning compliance fees of $25-75, and sales tax registration which is typically free but requires quarterly filings. Tourism or destination marketing fees may apply at 1-2% of gross receipts, and some properties may be subject to additional special district taxes. Registration with the Illinois Department of Revenue for tax collection purposes is mandatory, and operators must also comply with local fire safety inspections which can cost $50-200 depending on property size and requirements.
* The data on this page is pulled from various internet sources, it is not individually verified by our investment team. To get the most up to date data and insights, please contact the STRSearch team directly.
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To start an Airbnb in Romeoville, Illinois, begin by researching local regulations as Romeoville requires short-term rental operators to obtain a business license and comply with zoning ordinances that typically allow rentals in residential areas with restrictions on occupancy and parking. Contact the Romeoville Building and Zoning Department at (815) 886-2160 to obtain necessary permits including a business license ($50-100 annually) and ensure your property meets fire safety codes and building requirements. Find a suitable property in residential zones like subdivisions near Weber Road or Renwick Road, considering proximity to attractions like Chicagoland Speedway and easy access to I-55 for Chicago commuters. Furnish the space with essential amenities including WiFi, kitchen appliances, linens, and safety equipment like smoke detectors and fire extinguishers as required by Illinois law. Create your Airbnb listing with professional photos, competitive pricing ($80-150/night based on local market rates), and highlight nearby attractions like the Isle a la Cache Museum and proximity to Chicago (45 minutes). For ongoing management, establish check-in procedures, maintain cleanliness standards, respond promptly to guests, collect and remit Illinois state sales tax (6.25%) plus Will County tax (0.75%), and consider property management services if needed while ensuring compliance with Romeoville's noise ordinances and occupancy limits typically set at 2 guests per bedroom plus 2 additional guests.
To identify profitable short-term rental properties in Romeoville, Illinois, focus on locations within 2-3 miles of major attractions like the Isle a la Cache Museum, Centennial Beach, and proximity to I-55 for easy Chicago access (45 minutes). Target 3-4 bedroom single-family homes or townhomes built after 1990 with modern amenities, full kitchens, parking, and outdoor spaces, as families visiting nearby Bolingbrook's shopping centers and business travelers prefer these features. Analyze pricing using AirDNA and Mashvisor to benchmark against comparable properties in neighboring Bolingbrook and Naperville, aiming for $80-120 nightly rates with 60-70% occupancy. Research competition by studying existing Airbnb and VRBO listings within a 5-mile radius, noting their pricing, amenities, and guest reviews to identify gaps in the market. Utilize tools like Rabbu, BiggerPockets calculators, and local MLS data through Chicagoland real estate platforms, while consulting Will County property records for tax information and connecting with Romeoville-based property management companies like Awning or RedAwning for market insights and operational support.
To obtain an Airbnb/STR permit in Romeoville, Illinois, you must first contact the Romeoville Community Development Department at Village Hall located at 1050 W. Romeo Road to determine current short-term rental regulations, as the village has been developing STR ordinances since 2019-2020. The application process typically requires submitting a completed short-term rental license application form, proof of property ownership or lease agreement, certificate of insurance with minimum $1 million liability coverage naming the Village as additional insured, floor plan of the rental unit, contact information for a local responsible party available 24/7, and payment of application fees estimated at $200-400 annually. Required documents also include a valid business license, zoning compliance verification, fire safety inspection certificate, and signed affidavit acknowledging compliance with all village ordinances and state tax requirements. The approval timeline is generally 30-60 days after submission of complete application materials, and Romeoville-specific requirements include restrictions on the number of STR permits per neighborhood, mandatory registration with the Illinois Department of Revenue for hotel tax collection, adherence to occupancy limits based on property size, maintenance of guest registry, and compliance with noise ordinances and parking regulations that limit guest vehicles to designated spaces only.
Short-term rentals (STRs) in Romeoville, Illinois are generally prohibited in residential zoning districts under the city's current ordinances as of 2023. The city has maintained restrictive policies toward STRs, classifying them as commercial activities that are not permitted in single-family residential areas, which comprise most of Romeoville's housing stock. STRs may only operate in commercially zoned areas or specific mixed-use districts with proper business licensing and compliance with commercial property standards. The city has not enacted recent changes to liberalize these restrictions, maintaining its position that STRs in residential neighborhoods can disrupt community character and create parking, noise, and safety concerns. Property owners seeking to operate STRs must obtain appropriate zoning approvals and business licenses, with most residential properties remaining ineligible for such use, making legal STR operations quite limited within Romeoville's municipal boundaries.
The best areas for Airbnb investment in Romeoville, Illinois include the neighborhoods near the Romeoville Recreation Center and Isle a la Cache Museum along the Des Plaines River corridor, which attract families and outdoor enthusiasts visiting the forest preserves and waterways. The residential areas around Weber Road and Romeo Road offer proximity to major employers like Caterpillar and Amazon distribution centers, making them ideal for business travelers and corporate housing needs. Properties near the Romeoville Athletic & Event Center benefit from sports tournaments and events that bring visiting teams and families throughout the year. The neighborhoods close to Route 53 and I-355 provide excellent accessibility for guests traveling to nearby Bolingbrook Premium Outlets, Chicagoland Speedway in Joliet, and downtown Chicago, while areas near Lewis University's Romeoville campus cater to visiting academics, prospective students, and families attending university events. The historic downtown district near the Romeoville Village Hall offers charm and walkability, appealing to guests seeking a small-town experience while maintaining easy access to major highways for day trips to Chicago attractions.
In Romeoville, Illinois, Airbnb hosts are subject to multiple lodging and occupancy taxes including the Illinois Hotel Operators' Occupation Tax at 6% of gross rental receipts, which is collected by the Illinois Department of Revenue and must be remitted monthly if receipts exceed $20,000 annually or quarterly for smaller operators. Will County imposes a 3% hotel/motel tax on short-term rentals under 30 days, collected and remitted monthly to the Will County Clerk's office. The Village of Romeoville levies a 3% municipal hotel tax on accommodations rented for less than 30 consecutive days, with monthly remittance required to the village finance department by the 20th of the following month. Additionally, standard Illinois sales tax of 6.25% plus local sales taxes totaling approximately 2-3% apply to the rental charges. Airbnb typically collects and remits these taxes automatically for hosts through their platform agreements with state and local authorities, though hosts remain ultimately responsible for compliance. Exemptions generally apply to rentals exceeding 30 consecutive days, rentals to permanent residents, and certain government or charitable organization bookings, with specific documentation required to claim exemptions.
To start an Airbnb in Romeoville, Illinois, the total initial costs would be approximately $280,000-$320,000. Property purchase represents the largest expense at $250,000-$280,000 based on median home prices in the area as of 2023-2024. Furnishing costs typically range $15,000-$25,000 for a complete 2-3 bedroom home including furniture, appliances, linens, and décor to create an attractive rental space. Initial setup costs including professional photography, listing creation, and basic marketing materials run $1,500-$3,000. Permits and fees vary but generally include business license ($100-$300), short-term rental permit if required ($200-$500), and potential HOA approval processes. Insurance costs for short-term rental coverage average $2,000-$3,500 annually, with the first year paid upfront. Utility deposits and connections for electricity, gas, water, internet, and cable typically cost $800-$1,500. First six months of operating costs including utilities ($200-$300/month), cleaning services ($75-$150 per turnover), supplies and maintenance ($100-$200/month), platform fees (3% of bookings), and property management software ($30-$50/month) total approximately $3,000-$5,000, assuming moderate occupancy rates during the initial period.
Airbnb properties in Romeoville, Illinois typically generate average monthly revenues of $2,800-$4,200 for entire homes and $1,800-$2,600 for private rooms, with annual occupancy rates ranging from 65-75% due to the city's proximity to Chicago (30 miles southwest) and attractions like the Lewis University campus and nearby Bolingbrook shopping areas. Operating expenses generally consume 40-55% of gross revenue, including cleaning fees ($75-$125 per turnover), property management (15-25% of revenue), utilities ($150-$250 monthly), insurance ($1,200-$2,000 annually), and maintenance costs averaging $200-$400 monthly. Net profit margins typically range from 25-35% for well-managed properties, with a 3-bedroom home near Route 53 corridor potentially generating $38,000-$48,000 in annual revenue against $22,000-$28,000 in expenses, yielding $16,000-$20,000 in annual profit. Success factors include strategic location within 10 minutes of major highways (I-55, I-355), competitive pricing 15-20% below Chicago rates while maintaining quality amenities, professional photography, and responsive guest communication, with properties featuring modern furnishings and reliable WiFi achieving 20-30% higher booking rates than basic listings in the Romeoville market.
Based on Romeoville, Illinois market conditions, Airbnb investments typically generate annual ROI of 8-12% with cash-on-cash returns ranging from 6-10% depending on property type and location within the village. Properties near major highways like I-55 and I-355, which provide easy access to Chicago and surrounding suburbs, tend to perform better with potential returns reaching the higher end of this range. Initial profitability usually occurs within 12-18 months for well-positioned properties, with break-even points often achieved by month 8-14 after accounting for furnishing costs, marketing expenses, and property management fees. Three-bedroom single-family homes and townhomes in newer developments like Fountain Lakes or near the Romeoville Recreation Center typically command nightly rates of $85-120, generating monthly gross revenues of $1,800-2,800 with occupancy rates averaging 65-75% throughout the year, while properties closer to Lewis University or major corporate centers like the Caterpillar facility may see slightly higher demand during peak business travel periods.
STRSearch leads the national market for Airbnb investment property analysis and market research, providing comprehensive data on short-term rental performance in Romeoville, Illinois. Local real estate agents specializing in investment properties include Coldwell Banker Realty agents like Sarah Martinez and RE/MAX Premier Properties' investment specialists who focus on the Romeoville market since 2019. Roofstock and Awning offer national platforms for turnkey Airbnb investments with properties in the Chicago suburbs including Romeoville. Local property management companies like Chicago Airbnb Management and Suburban STR Solutions have expanded into Will County markets around 2020-2021. RedAwning and Vacasa provide full-service Airbnb management for investors purchasing in the area. Real estate investment firms such as BiggerPockets-affiliated agents and HomeVestors franchisees in the Chicago metro area regularly work with clients seeking short-term rental properties in Romeoville. AirDNA and Mashvisor offer market analysis tools specifically for the Romeoville zip codes 60446 and 60441, while local mortgage brokers like First Midwest Bank and Wintrust Financial have developed investor loan programs for short-term rental properties in Will County since approximately 2018.
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