Peoria, IL—61602
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Peoria, IL
As of Oct '25, the median home price in Peoria, IL is $123,000, with a year-over-year change of -1.8%. This indicates that home prices in Peoria, IL are decreasing. According to Zillow, the 1-year price projection is -0.5%, suggesting a relatively flat housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $123,000 | -1.8% |
| Single Family | N/A | N/A |
| Condos | $136,000 | -1.4% |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | N/A | N/A |
2 Bed | $134,000 | -0.7% |
3 Bed | N/A | N/A |
4 Bed | N/A | N/A |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Peoria, IL
As of July '25, Rentcast reports the average rent in Peoria, IL is $1,650, with a year-over-year rent change of 24.1%. Per bedroom, the median rent as of July '25 in Peoria, IL is 1-bedrooms: $1,350, 2-bedrooms: $1,730. The most common rental property sizes in Peoria, IL are 1-bedroom and studio, accounting for 48.0% and 38.8% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,540 | $1,650 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $1,200 | $1,350 |
| 2 Bed Rent | $1,700 | $1,730 |
| 3 Bed Rent | N/A | N/A |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Peoria, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Peoria, IL is 60. This is a decrease of -7.0% 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 35.0%, representing a large inventory and a lot of supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $219,000 | 53.0% |
Listing Count | 23 | 45.0% |
| Listings as % of Homes | 2.2% | 45.0% |
Days on Market | 60 | -7.0% |
Demographics — Peoria, IL
As of the latest ACS Survey released in 2023, Peoria, IL has a population of 977, which has increased by 11.4% over the past 5 years. Peoria, IL is a less popular place for families, as children make up 3.1% of the population. The area has a moderately educated workforce, with 37.2% of adult residents holding a bachelor’s degree or higher. There are many residents working remotely, with 28.1% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 977 | 11.4% |
% Under 18 | 3.1% | 416.7% |
% Seniors | 22.7% | 76.0% |
% WFH | 28.1% | 307.2% |
% w/ College Degree | 37.2% | 5.4% |
As of the latest ACS Survey released in 2023, Peoria, IL is a predominantly white area, with 60.0% of the population identifying as white. The white population has shrunk by 0.5% in the last 5 years. The second most common race or ethnicity in Peoria, IL is hispanic, making up 16.7% of the population. Foreign-born residents account for 11.9% of the population in Peoria, IL, and this percentage has increased by 24.0% as of the ACS Survey 5 years prior, suggesting more immigrants are calling the area home.
Race and Ethnicity
| Metric | Latest Census | 5-Year % Change |
|---|---|---|
% White | 60.0% | -0.5% |
% Black | 13.4% | -41.0% |
% Hispanic | 16.7% | 114.1% |
% Asian | 1.5% | -74.1% |
% Foreign Born | 11.9% | 24.0% |
Mortgage and Risk — Peoria, IL
Peoria, IL lacks sufficient mortgage origination data for analysis.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | N/A |
% Conventional Loans | N/A |
% Government Loans | N/A |
% Investor Loans | N/A |
% Second Loans | N/A |
% Cash Out Refinance | N/A |
Loan Activity
No data available
Rentals and Section 8 — Peoria, IL
Peoria, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 212 |
Total Units Section 8 | 212 |
% Rentals under Section 8 | 38.3% |
% Occupied Section 8 | 77.8% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$290 | $1,200 | $910 |
| 2 Bedroom | -$540 | $1,700 | $1,160 |
| 3 Bedroom | N/A | N/A | $1,500 |
| 4 Bedroom | N/A | N/A | $1,580 |
Affordability — Peoria, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 7.7 |
| Median Home Price | $123,000 |
| Median Household Income | $17,300 |