Peoria Heights, IL—61616
Real Estate Data & Market Trends
Key Metrics at a Glance
Home Price Trends — Peoria Heights, IL
As of Oct '25, the median home price in Peoria Heights, IL is $114,000, with a year-over-year change of 8.3%. This indicates that home prices in Peoria Heights, IL are increasing. According to Zillow, the 1-year price projection is 2.5%, suggesting an increase housing market in the next year.
Cost per Home Type
| Home Type | Median Home Value | YoY % Change |
|---|---|---|
All Homes | $114,000 | 8.3% |
| Single Family | $113,000 | 8.7% |
| Condos | N/A | N/A |
Cost per Home Size
| Home Size | Median Home Value | YoY % Change |
|---|---|---|
1 Bed | $78,000 | 2.6% |
2 Bed | $101,000 | 9.8% |
3 Bed | $127,000 | 8.5% |
4 Bed | $179,000 | 7.8% |
| 5 Bed | N/A | N/A |
% of Housing Stock
Rental Trends — Peoria Heights, IL
As of July '25, Rentcast reports the average rent in Peoria Heights, IL is $1,620, with a year-over-year rent change of 52.8%. Per bedroom, the median rent as of July '25 in Peoria Heights, IL is 1-bedrooms: $888, 2-bedrooms: $1,960, 3-bedrooms: $1,700. The most common rental property sizes in Peoria Heights, IL are 2-bedroom and 1-bedroom, accounting for 50.3% and 30.9% of the rental stock.
| Type | Median Rent | Average Rent |
|---|---|---|
| Average Rent | $1,100 | $1,620 |
| Studio Rent | N/A | N/A |
| 1 Bed Rent | $875 | $888 |
| 2 Bed Rent | $1,450 | $1,960 |
| 3 Bed Rent | $1,100 | $1,700 |
| 4 Bed Rent | N/A | N/A |
% of Rental Stock
Property Listings — Peoria Heights, IL
As of Oct '25, Realtor.com reports that the median days on market for a home in Peoria Heights, IL is 28. This is a decrease of -5.0% 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 10.0%, representing a small inventory and little supply pressure on home prices.
| Metric | Zip Code Average | Year over Year % Change |
|---|---|---|
Median Listing Price | $175,000 | 8.0% |
Listing Count | 21 | -25.0% |
| Listings as % of Homes | 0.7% | -25.0% |
Days on Market | 28 | -5.0% |
Demographics — Peoria Heights, IL
As of the latest ACS Survey released in 2023, Peoria Heights, IL has a population of 5,830, which has decreased by -1.3% over the past 5 years. Peoria Heights, IL is a moderately popular place for families, as children make up 20.2% of the population. The area has a moderately educated workforce, with 27.0% of adult residents holding a bachelor’s degree or higher. There are few residents working remotely, with 7.4% reporting working from home.
| Metric | Latest Census | YoY % Change |
|---|---|---|
Population | 5,830 | -1.3% |
% Under 18 | 20.2% | -0.5% |
% Seniors | 17.5% | 16.7% |
% WFH | 7.4% | 236.4% |
% w/ College Degree | 27.0% | 8.4% |
As of the latest ACS Survey released in 2023, Peoria Heights, IL is a predominantly white area, with 86.6% of the population identifying as white. The white population has grown by 1.6% in the last 5 years. The second most common race or ethnicity in Peoria Heights, IL is black, making up 3.8% of the population. Foreign-born residents account for 5.2% of the population in Peoria Heights, IL, and this percentage has increased by 300.0% 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 | 86.6% | 1.6% |
% Black | 3.8% | -28.3% |
% Hispanic | 3.3% | 94.1% |
% Asian | 3.8% | 3,700.0% |
% Foreign Born | 5.2% | 300.0% |
Mortgage and Risk — Peoria Heights, IL
According to HUD data as of 2023, there were 82 mortgage originations in Peoria Heights, IL, of which 84.0% of loans were conventional mortgages. The average loan-to-value was 69.0%, with 30.0% above 90% LTV (very high). This implies large mortgage risk in Peoria Heights, IL. Investor activity is low, as 13.0% of loans were by investors. 10.0% of loans were cash-out refinances, suggesting few homeowners are tapping equity.
Mortgages
| Metric | Zip Code Average |
|---|---|
Total Loan Originations | 82 |
% Conventional Loans | 84.0% |
% Government Loans | 16.0% |
% Investor Loans | 13.0% |
% Second Loans | 4.0% |
% Cash Out Refinance | 10.0% |
Loan Activity
Rentals and Section 8 — Peoria Heights, IL
Peoria Heights, IL lacks sufficient Section 8 program data for analysis.
Section 8 Market Size
Total Units under HUD | 174 |
Total Units Section 8 | 174 |
% Rentals under Section 8 | 17.7% |
% Occupied Section 8 | 91.4% |
Section 8 Opportunity
| Home Size | HUD Premium | Market Rent | Max HUD Rent |
|---|---|---|---|
| 1 Bedroom | -$105 | $875 | $770 |
| 2 Bedroom | -$470 | $1,450 | $980 |
| 3 Bedroom | $170 | $1,100 | $1,270 |
| 4 Bedroom | N/A | N/A | $1,330 |
Affordability — Peoria Heights, IL
Home Price to Income Ratio
| Metric | Zip Code Average |
|---|---|
| Home Price to Income Ratio | 1.4 |
| Median Home Price | $114,000 |
| Median Household Income | $62,100 |