Pekin, IL—61554
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Pekin, IL
As of Oct '25, the median home price in Pekin, IL is $133,000, with a year-over-year change of 10.0%. This indicates that home prices in Pekin, IL are increasing. According to Zillow, the 1-year price projection is 2.1%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $133,000 | 10.0% |
| Single Family | $133,000 | 10.8% |
| Condos | $156,000 | 9.9% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $57,000 | 5.6% |
2 Bed | $100,000 | 9.9% |
3 Bed | $142,000 | 10.9% |
4 Bed | $190,000 | 9.2% |
| 5 Bed | $204,000 | 10.3% |
% of Housing Stock
Rental Trends — Pekin, IL
As of July '25, Rentcast reports the average rent in Pekin, IL is $862, with a year-over-year rent change of -15.5%. Per bedroom, the median rent as of July '25 in Pekin, IL is 1-bedrooms: $704, 2-bedrooms: $884, 3-bedrooms: $1,210. The most common rental property sizes in Pekin, IL are 2-bedroom and 1-bedroom, accounting for 37.6% and 35.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $800 | $862 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $650 | $704 |
| 2 Bed Rent | $850 | $884 |
| 3 Bed Rent | $1,200 | $1,210 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Pekin, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Pekin, IL is 38. This is a decrease of -3.0% from last year, suggesting that homes are sitting on the market shorter than last year. The percentage of listed homes with a reduced price is 34.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $147,000 | 6.0% |
Listing Count | 123 | 20.0% |
| Listings as % of Homes | 0.6% | 20.0% |
Days on Market | 38 | -3.0% |
Demographics — Pekin, IL
As of the latest ACS Survey released in 2023, Pekin, IL has a population of 40,800, which has decreased by -3.0% over the past 5 years. Pekin, IL is a moderately popular place for families, as children make up 19.9% of the population. The area has a poorly educated workforce, with 20.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.0% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 40,800 | -3.0% |
% Under 18 | 19.9% | -8.7% |
% Seniors | 19.3% | 4.3% |
% WFH | 7.0% | 133.3% |
% w/ College Degree | 20.0% | 8.1% |
As of the latest ACS Survey released in 2023, Pekin, IL is a predominantly white area, with 90.9% of the population identifying as white. The white population has shrunk by 3.3% in the last 5 years. The second most common race or ethnicity in Pekin, IL is black, making up 3.0% of the population. Foreign-born residents account for 1.2% of the population in Pekin, IL, and this percentage has remained stable as of the ACS Survey 5 years prior, suggesting immigration has remained steady.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 90.9% | -3.3% |
% Black | 3.0% | 66.7% |
% Hispanic | 2.6% | 23.8% |
% Asian | 0.6% | 50.0% |
% Foreign Born | 1.2% | 0.0% |
Mortgage and Risk — Pekin, IL
According to HUD data as of 2023, there were 924 mortgage originations in Pekin, IL, of which 77.0% of loans were conventional mortgages. The average loan-to-value was 71.0%, with 36.0% above 90% LTV (very high). This implies large mortgage risk in Pekin, IL. Investor activity is low, as 3.0% of loans were by investors. 6.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 924 |
% Conventional Loans | 77.0% |
% Government Loans | 23.0% |
% Investor Loans | 3.0% |
% Second Loans | 1.0% |
% Cash Out Refinance | 6.0% |
Loan Activity
Rentals and Section 8 — Pekin, IL
Pekin, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 946 |
Total Units Section 8 | 736 |
% Rentals under Section 8 | 15.0% |
% Occupied Section 8 | 94.0% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | $70 | $650 | $720 |
| 2 Bedroom | $70 | $850 | $920 |
| 3 Bedroom | -$10 | $1,200 | $1,190 |
| 4 Bedroom | N/A | N/A | $1,250 |
Affordability — Pekin, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.7 |
| Median Home Price | $133,000 |
| Median Household Income | $62,500 |