Data through September 2026 · updated 2026-11-08 · free, from Zillow, Realtor.com, the Census Bureau and other public sources
Typical home value$174,845+6.4% YoY · prices are rising fast
Market right nowBalanced marketMore homes for sale than last year, 23% have cut their price
Income needed to buy, per year$37,903About 0.5× the local median income ($75,590): affordable for a typical household
Days on market36 daysAbout the same pace as a year ago
Next 12 months+4.7%Zillow expects prices to rise strongly
The typical home in Peoria, IL is worth $174,845, up 6.4% from a year ago. That is slightly above what local incomes have historically supported: fair value is about $168,463, so the area is 3.8% overvalued. It is a balanced market: homes take about 36 days to sell, listings are up 22% from a year ago, 23% of listings have had a price cut. Zillow expects prices to rise about 4.7% over the next year. A household needs about $37,903 a year to afford the typical home here at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $75,590. Typical rent is $1,157 a month, or $1,284 for a house. In the latest IRS figures, 334 more people moved out than in.
Home value over time
Solid: typical home value · dashed: fair value (household income × the 20-year average price-to-income ratio). Sources: FHFA, Zillow, U.S. Census Bureau.
Prices and affordability
Typical home value
$174,845
Change in 1 year
+6.4%
Overvalued %
+3.8%
Show 7 more
Fair home value
$168,463
Change in 5 years
+37.1%
Zillow forecast, next 12 months
+4.7%
Home value to income
2.3×
Monthly mortgage payment (20% down)
$948
Income needed to afford it
$37,903
Property tax rate
2.16%
Rent and investing
Typical rent
$1,157
Typical rent for houses
$1,284
Price-to-rent ratio
12.6×
Show 3 more
HUD Fair Market Rent, 2 bedrooms
$1,212
Gross rental yield
7.94%
Cap rate (estimate)
5.16%
Market activity
Listings vs a year ago
+21.9%
Days on market
36
Listings with a price cut
22.8%
Show 3 more
Homes for sale
740
Pending sales per 100 listings
56
Asking price per sq ft
$110
People and jobs
Median household income
$75,590
Population change (1 year)
−0.0%
Unemployment rate
4.8%
Show 4 more
Population
363,505
Income adjusted for cost of living
$82,884
Net moves in (IRS)
−334
Cost of living (US = 100)
91.2
Schools, risk and environment
School rating (1 to 10)
6.2
FEMA hazard risk score (0 to 100)
79.8
Unhealthy air days a year
4
Show 4 more
Flood risk score
80.4
Wildfire risk score
8.2
Walkability (1 to 20)
9.1
Road, rail and air noise
54 dB
Questions people ask
Is Peoria, IL overvalued?
Home prices in Peoria, IL are slightly above what local incomes have historically supported: fair value is about $168,463, so the area is 3.8% overvalued.
Is Peoria, IL a buyer's or seller's market?
Peoria, IL is a balanced market: homes take about 36 days to sell, listings are up 22% from a year ago, 23% of listings have had a price cut.
Are home prices going down in Peoria, IL?
Home values in Peoria, IL are up 6.4% over the last year. Zillow's forecast for the next 12 months is +4.7%.
How much do you need to earn to buy a home in Peoria, IL?
A household needs about $37,903 a year to afford the typical home in Peoria, IL at today's 7.18% mortgage rate (20% down, payment at 30% of income); the median household earns $75,590.