Cost of Living,
Pekin's Real Estate Market
Peoria Metro Area
Profile: Mid-sized city
Location: North-central Illinois, 135 miles southwest of Chicago
Time zone: Central Standard Time
|Cost of living||Economic cycles|
|Attractive residential areas||Air service|
Peoria is a pleasant, small community that is one of the oldest cities in the state. It is a business, industrial, and agricultural center known as the headquarters for Caterpillar, Inc. and the heavy-equipment industry. It is also home to the United States Agricultural Research Laboratory. Consistent with its mainstream Midwestern stereotype, life in Peoria is generally quiet. Downtown is clean and unremarkable but has some new entertainment venues, including a new museum center, civic center and high-rise residential units. The Illinois River waterfront is nice, and attractive older residential areas surround the city in the nearby hills.
Cost of living and home prices are attractive, especially on a national scale. The nature of Caterpillar and the equipment business suggests economic cycles. There have been periods of extended economic malaise, but the industrial/commercial base is growing and diversifying. Peoria is home to the 6,000-student Bradley University, and educational attainment is high for a small town. The city is also home to a strong healthcare sector, including three hospitals and the University of Illinois College of Medicine.
Peoria is situated next to the Illinois River in a shallow river valley, surrounded by gently rolling terrain. The climate is continental with typically changeable weather and a wide range of temperatures. Summer is generally pleasant, with some humid periods mid-season. Most precipitation falls in summer, mainly as thunderstorms. Falls are pleasant, with frequent periods of long, warm, dry days. Winter brings a mix of rain and snow. First freeze is late October, last is late April.
Interesting Facts about Pekin, Illinois
As of 2014, Pekin's population is 33,700 people. Since 2000, it has had a population growth of -0.32 percent.--------------------
The median home cost in Pekin is $92,400. Home appreciation the last year has been 0.20 percent.--------------------
Compared to the rest of the country, Pekin's cost of living is 13.40% Lower than the U.S. average.--------------------
Pekin public schools spend $11,302 per student. The average school expenditure in the U.S. is $12,435. There are about 18.2 students per teacher in Pekin.--------------------
The unemployment rate in Pekin is 7.80 percent(U.S. avg. is 6.30%). Recent job growth is Positive. Pekin jobs have Increased by 1.27 percent.
Ranked #36 America's Best and Worst Cities for Crime (Mid-Size Metro Areas)
Ranked #51 2005 Best Places to Live
Ranked #260 Best Green Cities
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Average Commute time is 18 minutes. The National Average is 25 minutes.--------------------
Pekin's Real Estate Market (click to see properties)
• Newly Listed Homes
• Most Expensive Listing
• Million Dollar Houses
• Homes from $750,001 to $1,000,000
• Homes from $500,001 to $750,000
• Homes from $250,000 to $500,000
• Homes under $250,000
• Median Priced Homes